Residential Property Price Survey Fourth Quarter 2019: Residential Property Price Growth Subdued - Bank Sentral Republik Indonesia
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July 15, 2020

The latest Residential Property Price Survey conducted by Bank Indonesia revealed more subdued residential property price growth in the fourth quarter of 2019, as reflected by a flatter Residential Property Price Index (RPPI) of 0.30% (qtq) compared with 0.50% (qtq) in the third quarter of 2019. Meanwhile, respondents predicted RPPI growth to hit 0.43% (qtq) in the first quarter of 2020.

Developers acknowledged a deep -16.33% (qtq) residential property sales contraction in the fourth quarter of 2019 after posting positive 16.18% (qtq) growth in the third quarter of 2019. Furthermore, the decline was felt across all types of residence.

The survey results also reiterated that most developers (58.80%) relied on non-bank financing in the form of internal funds, while the majority of customers (71.88%) were inclined to borrow housing loans disbursed by the banking industry.

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

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