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The real estate landscape presents a host of challenges that transcend geographical boundaries, impacting aspiring homeowners worldwide. Affordability remains a significant obstacle, fueled by escalating property prices and stagnant wages in many regions. Access to financing can be constrained by stringent lending criteria and high down payment requirements, particularly for first-time buyers. Moreover, market volatility and economic uncertainties can deter investment and exacerbate housing inequalities. Issues such as inadequate infrastructure, regulatory complexities, and legal disputes further complicate property transactions, eroding trust and confidence in the real estate market.

Addressing these multifaceted challenges requires concerted efforts from policymakers, industry stakeholders, and communities to foster sustainable and inclusive housing solutions for all.

More particularly, with Indonesia’s burgeoning middle class, consumers encounter various challenges when engaging in selling, buying, renting, instalment, and property maintenance endeavours. Firstly, the process of selling or buying property can be hindered by bureaucratic red tape and inefficiencies in the legal system, leading to lengthy and complex transactions. Additionally, the lack of standardised property valuation methods often results in discrepancies between seller expectations and buyer perceptions of value, contributing to negotiation difficulties and transaction delays.

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Moreover, consumers face obstacles in securing financing, with limited access to mortgage options and high interest rates constraining purchasing power, particularly for first-time buyers. This can perpetuate housing inequality and impede homeownership aspirations for many Indonesians.

Furthermore, renting property in Indonesia presents its own set of challenges for consumers. Tenants may need help finding suitable accommodation due to a mismatch between rental supply and demand, especially in densely populated urban areas. Rental agreements may lack clarity and enforceability, exposing tenants to potential exploitation by landlords.

Additionally, property maintenance experiences can be subpar, with issues such as inadequate infrastructure, poor sanitation, and insufficient access to utilities plaguing rental properties. These challenges underscore the need for comprehensive reforms to streamline property transactions, enhance consumer protection measures, and improve the quality of housing and rental experiences in Indonesia.

As such, founded in 2020, Pinhome, the leading end-to-end property platform in Indonesia, made it their mission to revolutionise the way individuals engage with the real estate market by leveraging cutting-edge technology and innovative solutions.

Pinhome’s one-stop solution to challenges in the real estate space

With Pinhome’s one-stop solution, the platform helps address challenges faced by stakeholders through five key areas: finding properties, buying properties, owning properties, home maintenance services, and property development.

Pinhome has established partnerships with over 20,000 agents and forged relationships with more than 23 bank partners, enabling seamless transactions within the real estate market. With an extensive network, Pinhome offers access to over 1 million property listings, spanning over 90 per cent of the cities in Indonesia. Its comprehensive features, including advanced search capabilities and secure payment options, have positioned Pinhome as the preeminent choice for individuals navigating the real estate landscape. This recognition was further solidified as Pinhome emerged as the most downloaded application in the Real Estate and Home category on the Google Play Store in 2023, a testament to its user-friendly interface and unparalleled service offerings.

“Our commitment is to continue to provide services that can always be a solution for various property-related needs and make the user experience easy, effective, and fun with various innovative features on the Pinhome platform,” shared Fibriyani Elastria, CMO of Pinhome.

Due to their successes, Pinhome has recorded an increase in performance in their home service sector in 2023 and is expected to see higher returns in 2024.

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To help us learn more about Pinhome’s successes, Dayu Dara Permata, CEO and Founder of Pinhome, will be discussing strategies and insights into the real estate market as well as the challenges faced by Pinhome that have led to its current success. With a wealth of experience and expertise, she will shed light on the innovative approaches adopted by Pinhome to address the unique challenges encountered in the Indonesian real estate market. From navigating regulatory complexities to harnessing the power of technology, Permata will offer invaluable perspectives on how Pinhome has successfully carved out its niche and cemented its status as a leading end-to-end property platform.

Moderated by Rama Mamuaya, CEO of DailySocial.id, the fireside chat promises to delve deep into the intricacies of Pinhome’s journey, exploring not only its successes but also the hurdles overcome along the way. Permata will share candid insights into the challenges faced by Pinhome, from initial inception to scaling operations, highlighting the lessons learned and the strategies employed to overcome obstacles. By offering a comprehensive overview of Pinhome’s trajectory, Permata’s discussion will provide invaluable learnings for entrepreneurs and industry professionals seeking to navigate the dynamic landscape of real estate in Indonesia and beyond.

This fireside chat will be happening at Echelon X taking place on 15 and 16 May at the Singapore EXPO.

Join us at Echelon X!

Gear up for the premier tech and innovation conference as Echelon X kicks off on May 15th and 16th, 2024, at the Singapore EXPO. This dynamic event will bring together industry leaders, visionary entrepreneurs, and groundbreaking startups from all corners of the region for two packed days.

Whether you’re eager to expand your knowledge, network with key players from the tech startup scene, or showcase your innovative ideas, Echelon X offers an unparalleled experience. Join us as a participant or an official partner by securing your spot now on our official page. Together, let’s embark on a journey to shape the future and create a lasting impact.

Join us at Echelon 2024, where innovation knows no limits, and the possibilities are endless!

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