Bid to revive Indonesia property market highlights c.bank’s policy dilemma

As Indonesia’s central bank
drives up interest rates to defend a fragile currency, Governor
Perry Warjiyo is banking on a revival of the sluggish property
sector to help maintain growth momentum in Southeast Asia’s
biggest economy.
Five years ago, luxury Indonesian apartment prices
skyrocketed amid a commodities boom that saw some wealthy buyers
pay cash upfront. The boom’s end, slower economic growth and
rules to curb property speculation slammed on the brakes.
Now,