JAKARTA – The price of residential properties is projected to gradually increase in Q2 2022 from the same period in 2021. However, this growth is said not to exceed the increase detected in the Residential Property Price Index in Q1 2022.

In the press release quoted Wednesday (18/5), Erwin Haryono, Executive Director and Head of Communication Department of Bank Indonesia (BI), announced that the survey regarding the residential property price showed a 1.16% increase in Q1 2022, lower than the current quarter’s increase of 1.87% yet higher than the index in Q1 2021 of 1.07%. “The residential property price surge is estimated to be found in all types of properties, be its small, medium, and large,” he added.

Meanwhile, the premier residential housing price is predicted to decline following the price adjustment made by developers since early 2022. The decrease is particularly visible in Manado and Batam.

The non-bank financing source for property development still dominated with 65.50% in Q1 2022, followed with bank credits of 20.41% and consumer financing of 8.68%. (LK/ZH)