Astra Property, a subsidiary of Astra International engaged in commercial, residential and industrial properties, is formulating a special strategy to target the first-time homebuyer market segment, in line with the shifting trend of property consumer needs in Indonesia. 

President Director of Astra Property, Wibowo Muljono, said that so far the property products offered by Astra Property tend to target the middle-up segment, with a price range of Rp2.5 to Rp4 billion (US$237,000).

"So far we have been too focused on current consumer needs. In fact, we should be mapping who our consumers will be in the next five years," Wibowo said while addressing a media gathering in Jakarta, on Tuesday, April 22, 2025.

According to him, the majority of these products are not for first-time homebuyers, but rather for parents seeking homes for their children, or for parents who want to move to a more comfortable residence.

He added that a change in strategy is needed to adapt to new demographics, especially the younger generation entering productive age and are ready to own a home.

Astra Property has now started to redesign the residential products and specifications to suit the needs of first home buyers. From a design aspect, the company is starting to evaluate the use of space such as living rooms, bathrooms, and foyer areas.

Besides physical aspect of the building, the ownership and financing aspects are also a major concern.

Wibowo said that the his company is currently communicating with a number of financial institutions to formulate a financing scheme that is suitable for the first-time homebuyer segment who do not have a long credit history.

"This financing issue is very unique. We are looking for other matrices that can be the basis so that first home buyers can get access to mortgages more easily," he said.

In the long term, Astra Property also emphasizes the importance of infrastructure connectivity as a determinant of land value and property attractiveness. According to Wibowo, all Astra Property land acquisitions always consider proximity to toll road access, MRT, and other public infrastructure.

"Our land acquisition strategy is always aligned with infrastructure development plans. This is important, especially for industrial projects that are highly dependent on logistics access," he said.