DEVELOPMENT OF REAL ESTATE INDUSTRY: Prospects of real estate industry

The number of houses built by real estate companies in Indonesia is still small, compared with the existing demand for housing each year. Last year, there were 53,387 simple, low-cost houses, 9,849 medium-cost houses and 1,500 big, high-cost houses built, while the country's housing requirements are estimated to average 600,000 units annually.

Housing development in the country continues to be concentrated in big and densely populated cities in Java, like Jakarta, Bandung, Semarang and Surabaya. Last year, of the total of low-cost and medium-cost houses built by Perumnas an