Property Financing Soared 11.4 Percent Throughout May
By : Herry Barus And Aldi Firhand. A | Friday, July 13 2018 - 21:20 IWST

Property Illustration
INDUSTRY.co.id - Jakarta- Total financing for the property sector in Indonesia in May 2018 grew 11.4 percent compared to May 2017 or exceeded Rp840.3 trillion, most of which was supported by property loans of domestic banks, the Central Bank said.
The Assistant Governor of Bank Indonesia's Macroprudential Policy Department Filianingsih Hendarta in Jakarta, Thursday (12/7/2018) said that domestic property credit until May 2018 reached Rp741.7 trillion, and financing sourced from Foreign Debt (ULN) of Rp80.6 trillion and Domestic Securities Rp18 trillion.
"Growth in financing sources in the property sector is showing an upward trend over the past year, driven primarily by growth in property loans originating domestically," he said.
Fili claims the relaxation of the credit value of total collateral (Loan to Value) conducted in August 2016 also has a medium-term effect and sustains the growth of mortgages to date. It also made the Central Bank loosen back the LTV ratio until the total elimination of LTV for the first house of all types on August 1, 2018.
As in May 2018, mortgages lifted 12.75 percent (yoy), or doubled its growth in the past two years when in May 2016, mortgages only grew moderately at 6.21 percent (yoy).
Mortgage also surpassed the average credit growth of banks in May 2018 grew 10.26 percent (yoy).
The highest mortgage growth is channeled for financing of flat / apartment type 22-70 square meters and more than 70 square meters, as well as a type 22-70 square meter tread house and more than 70 square meters.
"The ability to pay from debtors is also still very good, so the KPR can still continue to be lifted in the middle of this year," he said.
The Central Bank projected mortgage growth to grow by 13.46 percent (yoy) by the end of 2018 as the stimulus from LTV exemption for the first house of all types applied as of 1 August 2018
Read Also
PT Patra Jasa: A Giant In The Making
Opening of the 2023 Mall to Mall Exhibition at Trans Studio Mall,…
Jababeka and Mitsui Fudosan Asia Launch Wimbledon Shophouse in Kota…
tops! Handover of Cluster 'The Grove' Shila at Sawangan Faster Than…
Swire Properties, A Story of World-Class Excellence and Creative…
Today's Industry

Kamis, 07 Desember 2023 - 20:41 WIB
Lenggang Nyai Dance Enchants at Asian Cup Mascot Launch in Doha
Doha, Qatar - At the Asian Cup mascot launch event in Qatar, the traditional Indonesian dance, Lenggang Nyai from Betawi, stole the show as the only representative from the Southeast Asian region…

Kamis, 07 Desember 2023 - 20:35 WIB
The Consulate General of Indonesia in Vancouver Receives the Integrity Zone Award for a Corruption-Free Region (WBK) in 2023
Bali, Indonesia - The Consulate General of the Republic of Indonesia in Vancouver has achieved the Integrity Zone (ZI) Towards a Corruption-Free Region (WBK) Award 2023. The award was presented…

Kamis, 07 Desember 2023 - 20:31 WIB
Indonesia´s Jamu Wellness Culture Declared as UNESCO Intangible Cultural Heritage
Kasane, Botswana - The UNESCO Intangible Cultural Heritage (ICH) Convention Committee has declared Jamu Wellness Culture as a UNESCO Intangible Cultural Heritage on (6/12). Jamu Wellness Culture…

Kamis, 07 Desember 2023 - 20:29 WIB
From Cape Town to Nordkapp, Indonesian Explorer Sets Off on Expedition Promoting Indonesia
Cape Town, South Africa - Balines globetrotter, Ida Bagus (IB) Ngurah Wijaya has once again set off on an adventure by riding a motorbike from Cape Town to Nordkapp (06/12). On this trip, IB…

Kamis, 07 Desember 2023 - 20:24 WIB
The Indonesian Christian Community holds Christmas Commemoration in Brunei
Bandar Seri Begawan, Brunei Darussalam - Indonesian Ambassador to Brunei Darussalam, Dr. Achmad Ubaedillah hopes that the commemoration of Christmas Day 2023 can further strengthen the sense…
News Comment