PANDEMIC EFFECT TOWARDS RESIDENTIAL PROPERTIES IN BANDUNG AREA

• Main Author: Yelizaveta Lazuardi, Ivanka
• Format: Final Project
• Language: Indonesia
• Online Access: https://digilib.itb.ac.id/gdl/view/57693
• Institution: Institut Teknologi Bandung

COVID-19 has affected almost all business sectors in Indonesia, including real estate. This research is purposed to examine the condition of residential properties around Bandung area after the COVID-19 pandemic. The objectives of the research are to recognize the pandemic effects for residential properties, especially to their overall financial condition, and to give recommendations for the future strategy of residential properties in the city. By reviewing some reviewed papers and preliminary studies, the author concluded the current residential property industry is mostly having a setback such as; low development, drop housing prices, low demand, layoffs, and evictions. Afterwards, this research will use a semi-structured interview to analyze the real condition in Bandung city. The researcher has targeted four main stakeholders to be interviewed which are; the real estate agents, property developers, consumers of residential property, and the government officials. The interviews have proven that Bandung’s residential property situation is currently in a precarious state. Prices fluctuate based on the intention or urgency of both buyers and sellers, and the demand is decreasing, with developments also being unpredictable. The government and customers, on the other hand, believe that residential properties in Bandung have a bright future. There are also recommendations provided for the years to come. This research would be beneficial to all the stakeholders to handle the pandemic situation that might happen in the future and prepare the best strategy for this industry so the business could run well.