medcom.id, Jakarta: Bank Indonesia reported that the Residential Property Price Index accelerated to 1.23 percent in January-March 2017 from 0.37 percent in October-December 2016.
The increase was primarily influenced by higher construction material prices and construction worker wages.
"Surabaya reported the strongest growth of house prices," Bank Indonesia announced on Tuesday.
Moreover, the central bank reported that house sales growth slowed to 4.16 percent in January-March 2017 from 4.16 percent in October-December 2016.
The decrease was mainly influenced by less housing loans disbursed by banks.
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