Residential Property Prices Grow Slower - Bank Sentral Republik Indonesia
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September 18, 2020

The latest Residential Property Price Survey conducted by Bank Indonesia indicated another period of slower annual residential property price growth in the primary market, as reflected by a Residential Property Price Index (RPPI) of 1.59% (yoy) in the second quarter of 2020, down from 1.68% (yoy) in the previous period. Small residences were the main drag on rising residential property prices. In addition, survey respondents predicted further moderation in the third quarter of 2020, with a reading of 1.19% (yoy).

Respondents confirmed shrinking residential property sales in the second quarter of 2020, despite the contraction easing to -25.60% (yoy) from -43.19% (yoy) in the previous period. Declining residential property sales in the second quarter of 2020 affected all types of residence.

The survey also showed that most developers continued to rely on non-bank financing in the form of internal funds, accounting for 67.67% of total capital. Meanwhile, from the customers perspective, housing loans remained the primary form of financing for residential property purchase, accounting for 78.41% of respondents.

Head of Communication Department
Onny Widjanarko
Executive Director 
 
Information on Bank Indonesia
Tel. 021-131, email: bicara@bi.go.id
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