Medan is the capital of North Sumatra province in Indonesia. Located along the northeastern coast of Sumatra island, Medan is the fourth biggest city by population in Indonesia, behind Jakarta, Surabaya and Bandung. Bordered by the Strait of Malacca, Medan is a busy trading city around the island as located near the strait which is one of the most important shipping lanes in the world.
Medan is the gateway to the western part of Indonesia, and its economy is linked well with Malaysian cities (especially Penang and Kuala Lumpur) and Singapore by trade, service and natural resource exchanges. Both the seaport and the airport are connected to the city center via toll road and railway. Medan also became the first city in Indonesia to have an airport supported with train service.
In recent years, the city has undergone rapid development, and has seen large scale infrastructure projects such as a new airport, seaport, elevated railroad, toll roads, and a planned mass rapid transit system. Residential property prices in Medan have also 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
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