No.26/175/DKom

The latest Residential Property Price Survey conducted by Bank Indonesia in the second quarter of 2024 indicates limited gains in terms of residential property prices in the primary market, as reflected by 1.76% (yoy) growth in the Residential Property Price Index (RPPI), moderating from 1.89% (yoy) in the first quarter of 2024.

Meanwhile, residential property sales recorded 7.30% (yoy) growth in the reporting period, decelerating from 31.16% (yoy) in the previous quarter, with broad-based moderation affecting all residential property types, particularly small houses.

Based on the sources of finance, most developers continued relying on non-bank financing in the form of internal funds for residential property development, dominating 74.69% of total capital in the second quarter of 2024. On the consumer side, housing loans disbursed by the banking industry remained the preferred source of financing residential property purchases, accounting for 75.52% of total financing in the reporting period.

The Residential Property Price Survey is available for download in full via the official Bank Indonesia website.

Jakarta, 16 August 2024

Communication Department

Erwin Haryono

Governor Assistant