No. 27/31/DKom
The latest Residential Property Price Survey conducted by Bank Indonesia in the fourth quarter of 2024 indicates limited gains in terms of residential property prices in the primary market, as reflected by 1.39% (yoy) growth in the Residential Property Price Index (RPPI), moderating slightly from 1.46% (yoy) in the third quarter of 2024.
In terms of sales, the latest survey indicates a decline in the primary market in the fourth quarter of 2024, primarily affecting small and medium residential properties, contrasting stronger sales of large houses. Overall, therefore, residential property sales experienced a 15.09% (yoy) contraction in the reporting period.
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 74.38% of total capital in the fourth 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 72.54% 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 14th February 2025
Communication Department
Ramdan Denny Prakoso
Executive Director
