No. 25/223/DKom
The latest Residential Property Price Survey conducted by Bank Indonesia in the second quarter of 2023 indicates that residential property prices in primary market are still rising on an annual basis, with growth of the Residential Property Price Index (RPPI) accelerating to 1.92% (yoy) from 1.79% (yoy) in the previous period.
In terms of sales, the latest survey indicates sluggish residential property sales in the primary market in the second quarter of 2023, as reflected by a deeper 12.3% (yoy) contraction in the reporting period after contracting 8.26% (yoy) in the first quarter of 2023.
Based on the sources of finance, the latest Residential Property Price Survey also shows that most developers continue to rely on non-bank financing in the form of internal funds for residential property development, dominating 72.80% of total capital in the second quarter of 2023. On the consumer side, housing loans disbursed by the banking industry remain the preferred source of financing residential property purchases, accounting for 76.02% of total financing in the reporting period.
The complete Residential Property Prices Survey is available for download via the official Bank Indonesia website.
Jakarta, 16th August 2023
Communication Department
Erwin Haryono
Executive Director
Information on Bank Indonesia
Tel. 021-131, email: bicara@bi.go.id
