...for seven major Indonesian property developers tracked in this report rose by 10.4% yoy in 2Q15 to IDR9.3trn, as they offered easier repayment terms to buyers. Fitch Ratings estimates that the seven companies account for a majority of the Indonesian residential property development sector. Presales in 2Q15 were also higher by 5.1% from the previous quarter, and by 1.2% from 2Q13. Larger Firms to Excel: We expect larger companies with a stronger track record to continue to surpass their peers in the next 12 months. We expect property demand to remain weak due to economic growth at a five-year low, and interest rates that could remain high even as the rupiah slides. Four of these seven majors reported presales growth, while three had declines. Higher Sector-Wide Leverage: Leverage...
