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News 11/11/2019

An apartment for Millennials, SouthCity Offers The Parc Apartment with Down Payments of IDR 50,000 / Day

Indonesia is a country that is endowed with demographic wealth. The population of productive age is estimated to increase by 2 million people annually for the next 10 years. However, with progress comes new problems that arise, namely housing.

For the millennial generation, having a residence is not a priority, because a philosophy of life that emphasizes life experience has made this generation born in 1980-2000 prioritize socialization and adventure. In fact, it is estimated that in the next 10 years, occupancy will be a problem for this city in the next few years. There is a gap between capacity and the market price of property.

From the REI survey, millennials in the age range of 30 to 35 years currently get an average salary of IDR 5-6 million / month. Only a handful of them had a salary of IDR 10 million / month at that age. From that income, if a millennial buy a house, their ability is subsidized at 130 percent. Meanwhile, buying a non-subsidized house is in the range of only 60-70 percent.

The inability of millennials to buy commercial housing is the result of their income. With a salary of Rp. 5-10 million, millennials are not entitled to housing subsidies. Automatically they have to switch to commercial housing. It is estimated that in the next 5 years, millennials will have difficulty owning houses.

Based on a Housing Finance Center (HFC) survey of 270 respondents aged 21-35 years, the millennial generation wants to have a landed house at an affordable price, a mortgage tenor for 10-15 years, and installments according to their abilities. For this reason, innovation is needed from developers that can provide affordable residential soil for the millennial generation. Moreover, the millennial market in Indonesia will soon become large.

Seeing this opportunity, property developer PT Setiawan Dwi Tunggal built The Parc, a modern apartment with a millennial concept and affordable prices. Apartments that have just been ground breaking some time ago are expected to be handed over in the second quarter of 2022.

SouthCity Director Peony Tang said that her party understands the millennial need for community and collaboration. In addition, with the increase in housing prices, especially in big cities, it is increasingly difficult for millennials to have housing.

“That is why The Parc comes with a millennial concept and at an affordable price, we even provide various payment facilities for millennials so that occupancy is no longer mission impossible for them,” she said.

According to her, The Parc apartment comes with a concept that accommodates the needs of millennials. As the first coliving residence in Indonesia, The Parc provides community and collaborative facilities for its residents by paying attention to the aesthetic value and comfort of the residents.

“The coliving concept that we offer is different from other residences. We provide opportunities for residents to communicate and collaborate, but still prioritizing comfort, The Parc is a residence designed to support a better life. This is an idea from an existing idea, designed for the needs of the millennial generation who tend to value openness, collaboration, social networking and business, “said Peony.

In line with Peony, SouthCity Associate Director, Stevie Faverius Jaya said that the millennial generation is a huge market opportunity for developers. That is why, The Parc provides paid facilities ranging from DP savings to installments of IDR 50,000 per day.

“The most important thing that is offered to our customers is a living experience with a large and beautiful area, supported by a fully equipped superblock area. And we offer all of this at affordable prices and easy ways to pay for millennials.” said Stevie.

The Parc is the first apartment in the SouthCity Superblock area developed by PT Setiawan Dwi Tunggal. This 57-hectare integrated development area consists of a new residential area for landed house Fortunia Residences, residential apartments, retail, commercial, shopping centers, offices, hotels in Pondok Cabe, South Tangerang.

Since being marketed in June 2018, The Parc has sold around 70 percent of the total 391 units in the first tower, Summer Tower. “We are targeting sales to reach 100 percent this year and then we will market the second tower,” concluded Stevie.

SouthCity (PT. Setiawan Dwi Tunggal) as an optimistic developer, the presence of this apartment project with an investment of up to Rp 1 trillion can provide fresh air for investors and end users, especially millennials who want housing according to their needs and lifestyle. The Parc Apartment consists of 3 towers as high as 13 floors, with a planned total of 1,701 units.

The first tower, which is planned to begin construction at the end of this year, will provide 3 types, namely Studio (22.55 m2), 1 Bedroom (30.06-37.49 m2) and 2 Bedroom (46.60 m2). Currently, The Parc is priced at promo and affordable prices starting from IDR 357 million to IDR 731 million per unit. Tower 1 construction is targeted to be completed by the end of this year.

Source: Merdeka

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