No. 26/104/DKom
The latest Residential Property Price Survey conducted by Bank Indonesia in the first quarter of 2024 confirms that the upward residential property price trend is continuing, as reflected by higher 1.89% (yoy) growth of the Residential Property Price Index (RPPI) in the reporting period from 1.74% (yoy) in the fourth quarter of 2023.
Meanwhile, residential property sales recorded impressive 31.16% (yoy) growth in the reporting period, up significantly from 3.37% (yoy) in the previous quarter, driven by broad-based gains across all residential property types.
Based on the sources of finance, the latest Residential Property Price Survey also shows that most developers continued relying on non-bank financing in the form of internal funds for residential property development, dominating 72.93% of total capital in the first quarter of 2024. On the consumer side, housing loans disbursed by the banking industry remain the preferred source of financing residential property purchases, accounting for 76.25% of total financing in the reporting period.
The Residential Property Price Survey is available in full for download via the official Bank Indonesia website.
Jakarta 16th May 2024
Communication Department
Erwin Haryono
Assistant Governor
