Indonesia's middle class is driving the property sector said General Chair of Indonesia Real Estate (REI), Soelaeman Soemawinata at the opening of the REI Mandiri Property Expo 2018 in Jakarta recently.

According to local news wires, most of REI's members are developers targeting the middle class providing medium-scale, affordable housing. This year's Expo has the theme 'Dream Home Becomes Reality' and by all accounts turn out has been good with young couples showing interest from day one. 

40 developers in locations around the country, including Bali, are offering more than 120 housing projects. Bank Mandiri's Millennial Mortgage Programme (KPR), is providing the financial keys and support by tempting the young middle class with no down payments, minor installments, a tenure of up to 30 years, higher lending limits and 5-year fixed interest rates.

The REI Mandiri Property Expo 2018, is part of REI's larger commitment to the government to promote the industry by building livable and more affordable homes.

Along with door prizes such as BMW's, Mini Coopers, iPhones and competitions for kids, there are also daily talk shows about property in Indonesia aimed at instilling greater confidence in the industry with guest speakers from the government and developers.

The REI Mandiri Property Expo 2018 runs until November 25 at the Jakarta Convention Centre.

Sources: Tribun News, Warta Ekonomi, Liputan6, Tempo, Detik, REI, Netral News, Indo News, PU-Net

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