Business · Companies · 1 day ago

Buyers Urged to Check Apartment Projects Before Paying

Buyers Urged to Check Apartment Projects Before Paying

Experts in Indonesia are warning people to look beyond a low price when buying an apartment, especially before construction is complete.

In an off-plan sale, buyers are relying on a developer to finish the building later, as promised.

Some apartment projects in the country have been delayed or left unfinished, weakening buyers’ confidence.

Experts say problems can arise when developers lack funds, demand is below the number of units available, or projects lack the required permits.

Buyers are advised to check the project’s permits and land ownership, monitor construction progress, and review the developer’s track record.

They should also read the sale agreement closely, including the handover deadline and penalties for delays.

Those who can afford it may consider a completed unit or a project further along in construction, while weighing the risk as well as the price.

Sources

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