Kuningan City is optimistic that the increasing fear of financial turmoil related to the suprime mortgage crisis in the U.S. will not overly affect its business.
As revealed at a recent seminar, only 2 percent of the overall buyers of Kuningan City property took out bank loans, while most buyers availed of developer-facilitated monthly direct cash payments for 28 to 32 months.
Twenty-two percent of its customers have initiated hard cash perchasing, with the same percentage making one-year credit payments.
“The developer’s payment scheme is still popular because customers can avoid increasing bank interest with this scheme,” explained Handaka Santosa, the president director of the project.
The company’s comparison between, the Indonesian Stock Exchange’s index and Kuningan City’s product sales record is also quite convincing, with the sales record continuing to increase even as the index is falling.
That is not to say that the nation’s property business will not be dragged down by the world financial crisis, but the product sales of Kuningan City continue to rise.
As revealed at a recent seminar, only 2 percent of the overall buyers of Kuningan City property took out bank loans, while most buyers availed of developer-facilitated monthly direct cash payments for 28 to 32 months.
Twenty-two percent of its customers have initiated hard cash perchasing, with the same percentage making one-year credit payments.
“The developer’s payment scheme is still popular because customers can avoid increasing bank interest with this scheme,” explained Handaka Santosa, the president director of the project.
The company’s comparison between, the Indonesian Stock Exchange’s index and Kuningan City’s product sales record is also quite convincing, with the sales record continuing to increase even as the index is falling.
That is not to say that the nation’s property business will not be dragged down by the world financial crisis, but the product sales of Kuningan City continue to rise.
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