Economic observer from the Institute for Development of Economics and Finance (Indef), Enny Sri Hartati, predicted that the countrys property industry would recover from long slump as a result of the tax amnesty policy as the sector still attracts investors.

“If the investment climate is conducive, people would rush to invest in the property sector. I think one of the most attractive areas for investment is property sector,” Enny Sri Hartati said here on Tuesday.

Enny said fears among many observers that property sector could cause economic bubble are groundless, adding the condition in Europe or the United States is not the same as in Indonesia.

“I dont believe the property sector would cause bubble as the ratio of houses to population in Indonesia is still very low, while the prices continue to climb. The tax amnesty will bring in funds to finance development. Property business players should grab this opportunity,” she said.

Meanwhile, Agung Wirajaya, an executive of PT Agung Podomoro Land (APL), one of the countrys property giants, also said that the tax amnesty program, now being promoted by the government, would have positive impact on all economic sectors including the property sector.

However, the government should maintain the intensity of the promotion to ensure greater success of the program, he said.

“The people look enthusiastic when President Joko Widodo promoted the program on August 1 at Kemayoran,” he said.

The people still need to be convinced of the benefit of the program, he said, adding, the people would rush to take part in the program when they know that it would benefit not only the country but also the business players as individuals.

source: antaranews.com