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The latest Residential Property Price Survey conducted by Bank Indonesia indicated that residential property prices posted modest annual gains in the second quarter of 2022, with the Residential Property Price Index (RPPI) growing 1.72% (yoy), relatively limited compared to 1.77% (yoy) in the previous period. Meanwhile, respondents predict further moderation to 1.53% (yoy) in the third quarter of 2022.
In terms of sales, the latest survey indicated stronger residential property sales in the primary market, accelerating to 15.23% (yoy) in the second quarter of 2022 after contracting 10.11% (yoy) in the first quarter of 2022.
Based on the sources of finance, the Residential Property Price Survey also showed that most developers continued to rely on non-bank financing in the form of internal funds for residential property development, dominating 64.82% of total capital in the second quarter of 2022. On the consumer side, housing loans disbursed by the banking industry remained the preferred source of financing residential property purchases, accounting for 74.97% of total financing.
Complete survey results are available from the Residential Property Price Survey posted on the official Bank Indonesia website.
Jakarta, 16th August 2022
Head of Communication Department
Information on Bank Indonesia
Tel. 021-131, email: email@example.com
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