JAKARTA – The growth of residential property prices in Q3 2021 tends to decline compared to Q2 2021. This condition could be observed by seeing the contraction in sales by 15.19%, particularly in small houses type.
Erwin Haryono, Executive Director, Head of Communication Department of Bank Indonesia (BI), announced that the Residential Property Price Index until Q3 2021 reached 1.41%. It is slightly lower than the index reported in Q2 2021 of 1.49%. “In Q4 2021, the residential property price is projected to grow 1.19%,” he further stated in the press release of the Residential Property Price Survey of Bank Indonesia earlier today (12/11).
In terms of the financing aspect, in Q3 2021, the developer still relied 65.87% of financing on internal cash while giving up the rest to bank loans. Meanwhile, housing ownership credit (KPR) from banks was still consumers’ main choice, dominating 75% of total financing. (LK/ZH)