Medan

Medan (Indonesian pronunciation: [meˈdan]; Indonesian: Kota Medan) is the capital of North Sumatra province in Indonesia. Located on the northern coast, and with 2,097,610 inhabitants at the 2010 census. Medan is the fifth largest city in Indonesia by population after Jakarta, Surabaya, Bandung and Bekasi, also the third largest city by economy (behind Jakarta and Surabaya), and the largest Indonesian city outside Java.[2][3][4] Its built-up (or metro) area made of 18 municipalities or districts was home to 4,103,696 inhabitants at the 2010 census.[5] The city is bordered by the Deli Serdang Regency to the east, south and west, and the Strait of Malacca to the north, make the city located very strategically for economy as the Strait of Malacca is one of the most important shipping lanes in the world.

The city was known as Medan-Deli when it was established by Dutch tobacco commerce after the formation of the Deli Company. The Deli Railway was established for shipping rubber, tea, timber, palm oil, and sugar industries from the city to Belawan, a port town up to north area. Medan also was a capital of East Sumatra, a state of United States of Indonesia during 1449 to 1950.

Medan was dubbed by the Dutch Parijs van Soematra due to the city's resemblance to Paris. Lamudi, a worldwide real estate portal, recognized Medan as one among six cities in Asia to feature and preserve several colonial architectural sites, while accompanying its growth as a metropolitan city.[6]

In recent years, the development growth rise rapidly with a large scale infastructure such as a new airport, seaport, elevated railroad, toll roads, and also a planned mass rapid transit. Bringing a major-scaled properties, mixed developments and housings is being built. One of the favorable markets in the country's property industry outside Java is Medan. The rising demand in North Sumatra's capital is also due to Java's increasingly rapid population growth. The way that a new airport has been developed to become bigger and grander has helped make Medan a more attractive place to visit.[7] Residential property prices in Medan have trended upward over the period from 2013 to the first quarter of 2015, according to Bank Indonesia (BI). According to BI, Medan’s residential property price index rose from 205.24 in the fourth quarter of 2013 to 212.17 in the fourth quarter of 2014, and to 214.41 in the first quarter of 2015.[8]