BI: Slow Growth in Residential Property Prices
By : Ahmad Fadli And Aldi Firhand. A | Friday, August 10 2018 - 23:10 IWST

Bank Indonesia
INDUSTRY.co.id - Jakarta - Bank Indonesia (BI) Residential Property Price (SHPR) Survey in quarter II-2018 indicates a slowdown in the increase in residential property prices in the primary market.
This is reflected in the Residential Property Price Index (IHPR) in the second quarter of 2018 which grew 0.76% (qtq), slowing down from 1.42% (qtq) in the previous quarter.
"The slowing increase in residential property prices occurred in all types of houses. In the future, the slowing increase in housing prices is expected to continue in the third quarter of 2018 at 0.55% (qtq)," said Director of the Wuryandani Statistics Department in Jakarta.
In quarter II-2018, residential property sales volume was recorded at -0.08% (qtq), lower than 10.55% (qtq) in the previous quarter. The decline in residential property sales was caused by a decline in sales in medium-sized and large-type houses. Meanwhile, sales of small types of houses increased.
"Some of the factors that led to the decline in residential property sales in the second quarter of 2018 were the high interest rates on housing loans (KPR) and the minimum down payment (DP) limit on home loans," he said.
The survey results show that the financing of residential property development by developers mainly comes from non-banking. This was reflected in development financing sourced from internal developer funds which reached 58.11%.
Meanwhile, as much as 75.21% of consumers use mortgage facilities as the main facility for the purchase of residential property.
Read Also
Savyavasa and Permata Bank Launch Exclusive Foreign Mortgage Program
Boediman Widjaja's Technology Ready to be Adopted in Jababeka Industrial…
SUNeVision Initiates MEGA IDC Phase Two Development
President Prabowo Orders Massive Dissemination of Pro-People Policies…
Boediman Widjaja, Hero of Environmentally Friendly Building Materials…
Today's Industry

Rabu, 09 Juli 2025 - 08:55 WIB
Indonesia's First Harman Professional Experience Center Opens in Jakarta
PT Inti Megah Swara (IMS Indonesia) announces the grand opening of the country's first Harman Professional Experience Center, located at Desound Melawai, South Jakarta.

Rabu, 21 Mei 2025 - 10:09 WIB
Indonesia, Thailand Sign MoU on Health Sector, Focusing on Global Capacity, Collaboration
As a part of President Prabowo Subianto’s official visit to Thailand, both countries signed a Memorandum of Understanding (MoU) on health sector, in an effort to strengthen bilateral cooperation…

Rabu, 21 Mei 2025 - 10:06 WIB
Indonesia, Thailand Deepen Cooperation on Security, Trade, and Regional Stability
resident Prabowo Subianto has reaffirmed Indonesia’s strong commitment to deepening bilateral relations with Thailand during the meeting with Thailand’s Prime Minister Paetongtarn Shinawatra…

Jumat, 02 Mei 2025 - 10:46 WIB
Binawan and Government Support Indonesian Nurses in Europe through Scholarships
In the midst of the viral #KaburAjaDulu hashtag as a symbol of the young generation's disappointment with domestic working conditions, Binawan responded with real action: dispatching Indonesian…

Jumat, 28 Maret 2025 - 22:07 WIB
TDL Records New Revenue Record of IDR 25 Trillion in 2024 Ahead of 50th Anniversary
PT Metrodata Electronics Tbk (MTDL), the largest technology Company with the most complete IT and telecommunications products in Indonesia, managed to record a revenue of IDR 25 trillion in…
News Comment