Rising Residential Property Prices are Accelerating - Bank Sentral Republik Indonesia
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August 26, 2019

The Residential Property Price Survey conducted by Bank Indonesia in the first quarter of 2019 pointed to a faster pace of rising residential property prices, as confirmed by 0.49% (qtq) growth in the Residential Property Price Index (RPPI) compared with 0.35% (qtq) in the previous period. Furthermore, respondents predicted RPPI growth to accelerate again in the second quarter of 2019 to 0.52% (qtq), edged up by rising construction material prices and higher wages.

Residential property sales reversed the previous 5.78% (qtq) contraction recorded in the fourth quarter of 2018 to increase 23.77% (qtq) in the first quarter of 2019, led by small houses with medium and large houses also posting gains.

The latest survey also indicated that most consumers (74.16%) relied on bank financing when purchasing residential property. In line with rising residential property prices, housing loans disbursed by the banking industry also accelerated from 1.14% (qtq) in the fourth quarter of 2018 (December 2018) to 4.02% (qtq) in the first quarter of 2019 (March 2019).

Complete survey results are available from the Residential Property Price Survey posted on the official Bank Indonesia website.

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