"Noting that the price gap between apartments in Singapore and those in Indonesia is huge, Luhut added: "This is a good opportunity (for Indonesia). "Hopefully, I will be able to close at least one deal this month," she told The Straits Times. "Those priced at Rp1 billion rupiah would immediately increase to, probably, Rp1.2 billion," said the analyst, who cannot be identified due to company policy. "If, let’s say, foreigners are allowed to buy apartments worth Rp5 billion (Bt1.33 million) or above, this would still affect lower-priced homes," a Jakarta-based equity analyst with a foreign brokerage told The Straits Times. "Most callers were keen on houses with prices around 2 billion rupiah and lower," said Ratih, who is with Era Radiant property agency, located just outside Jakarta.

Source: The Nation Bangkok July 22, 2016 04:41 UTC