Welcoming 2023, It’s the Right Time to Buy a House!

Tierra Mallorca Rgj1j8sdeay Unsplash

Recently, the news has been filled with the problem of an economic recession that is predicted to hit the world in 2023. In fact, a recession in 2023 is certain to actually occur, seeing the trend of rising interest rates. The OECD (Organization of Economic Co-operation and Development) estimates that several central banks, such as the Fed (United States central bank) and ECB (European central bank), will raise interest rates until early 2023.

This report is certainly cause for concern. This is because interest rates that continue to rise will affect credit interest. This reason then causes people to resist the desire to buy a house. However, is that true? Is it better not to make a decision to buy a house in 2023?

Tierra Mallorca Rgj1j8sdeay Unsplash

Global economic recession, how about Indonesia?

The 2023 economic recession is predicted to have a global impact. That means, Indonesia will also receive the impact. This was felt when the Asian Development Bank (ADB) cut Indonesia’s growth forecast in September 2022.

However, from the same report it can also be seen that Indonesia is one of the countries that will not be too affected by the global economic recession. This is because Indonesia’s economic growth until mid-2022 is still in line with expectations. The ADB even estimates that Indonesia’s growth will actually increase to 5.2% (from the original 5%) in 2023.

In addition, data from the Central Statistics Agency (BPS) states that the growth of Gross Domestic Product (GDP) in the second quarter of 2022 is still above 5% (around 5.44% per y-on-y). The inflation rate was under control at 4.9%. This report certainly raises its own optimism. However, when talking about the opportunity to buy a house, is it still possible?

Year 2023, the right time to buy a house?

It’s normal for you to feel worried about 2023 because of this economic recession. However, actually, this new year actually opens up opportunities for having a new home. Why?

1. The trend of rising interest rates

There is an assumption that when interest rates rise, there is a possibility that house prices will fall. However, the reality is that no one knows when this will happen.

On the contrary, if interest rates continue to rise, house prices will increase. Therefore, if you already have a target house, you should not delay it any longer. With a note, the price of the target house does not exceed your financial ability.

2. The influence of the political year

2023-2024 is a political year in Indonesia that will most likely discourage people from buying a house. This is because the political tension ahead of the ELECTION is feared to have an impact on the business sector.

However, if you look at previous track records, such as in 2018 or 2014, it’s actually safe to buy a house. This is because the house is basically one of the basic human needs. Instead, there is a possibility that house prices will drop slightly to encourage a sluggish market.

3. More affordable house ownership solutions

In the past, buying a house could only be done in two ways: paying cash or credit. However, more affordable house ownership solutions are now available, such as the Tanaku SuperAPP.

Tanaku SuperAPP provides a low-cost home ownership solution, which is even lighter than installments or mortgages. The process is easy, it can be done online. With Tanaku SuperAPP, you can collect points every time you pay rent for a house. Later, points can be exchanged to pay off a down payment or house down payment. It’s easier, really, to upgrade from renting a house to having your own house!

Even though it is predicted that there will be an economic recession in 2023, don’t let it scare you and prevent yourself from achieving financial goals such as buying a new house. Especially now that there is a relatively easier way to buy housing by using the Tanaku SuperAPP.

Tanaku SuperAPP provides comprehensive solutions to realize the dream of having your own home. This super app features a point system that will help you get one step closer to your dream home. You will earn points after paying rent and completing missions, such as filling out short surveys. Besides being able to be used to pay off a down payment for a house, points can also be exchanged for rewards such as gym memberships or eating at restaurants. So what are you waiting for? Come on, download the Tanaku SuperApp now!