THE shakeup in the capital market is affecting the property sector. When trade opened at the Indonesian Stock Exchange (IDX) on Monday last week, the property market had declined 5.19 percent, in line with the weakening of the Composite Stock Price Index (IHSG).

The property business is indeed in a slump. Purchasing power has plummeted. Housing companies in Sulawesi and Maluku have decided to lower prices for non-subsidized housing by 30 percent