Fakky Ismail Hidayat, Senior Associate Director Advisory and Investment Knight Frank Indonesia, said the condotel market growth is directly proportional to the growth of hotels. Hotel occupancy in Bali is now 70 percent.
According Fakky, although the existing supply is now up to more than 2.000 units, the increasing number of tourists will drive growth in the supply of condotels. "By the end of 2012, the proposed supply reaches 1.700 to 2.000 new condotel units," he said.
Source : Indonesia Finance Today
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