At the beginning of 2020, the world must be concerned because of the COVID19 pandemic, where this outbreak has paralyzed almost all sectors of human life. This pandemic creates a domino effect that is detrimental to various economic sectors, one of which is the property sector. The question is “When does this pandemic end?”. Of course no one can answer that question.
However, in Mandarin, Crisis has 2 meanings, namely “danger” and “opportunity”. In this pandemic crisis, of course many crises have occurred. Several sectors are really affected, such as: tourism, hotels, restaurants, shopping malls, cinemas, etc. However, behind this crisis, of course there are opportunities that we can take. As the saying goes “looking for opportunities in the narrow”.
In these conditions there are many properties that are sold cheaply or at revised prices. Why is that? Because many businesses have been affected, so many people need fresh funds to run their business, one way is to cash the property into money, so that it is sold at a lower price than the market price.
In addition, it also relates to banking conditions, according to data from the Financial Services Authority (OJK) per April 2020, which states that the increase in Non-Performance Loans (NPL) makes banks have to execute existing collateral at a lower value than the market. The large number of cheap properties can be an opportunity for investors and end-users who are looking for housing as necessity.
Of course, this opportunity must be followed by supportive conditions, namely financial conditions and business conditions. If you have sufficient savings and the condition of the business sector is not affected, buying cheap property during this pandemic is the right decision. However, if the condition is the opposite then it must be reconsidered.
So, it can be concluded that buying property is basically profitable, it’s just not in the short term, because property is included in a long-term investment. But of course, don’t forget to adjust it to the conditions of each person to buy cheap property.