Jakarta: The latest Residential Property Price Survey conducted by Bank Indonesia (BI) in the third quarter of 2022 indicates that residential property prices are still climbing on an annual basis, with Residential Property Price Index (RPPI) accelerating to 1.94% (yoy) infrom 1.66% (yoy) in the previous period.
"Notwithstanding, respondents predict moderation of residential property price growth in the fourth quarter of 2022 to 1.65% (yoy)," Bank Indonesia Communication Department Executive Director Erwin Haryono said in a media release on Monday.
In terms of sales, the latest survey indicates that residential property sales in the primary market in the third quarter of 2022 remained strong, with growth nevertheless decelerating to 13.58% (yoy) from 15.23% (yoy) in the second quarter of 2022.
?Based on the sources of finance, the latest Residential Property Price Survey also shows that most developers continued to rely on non-bank financing in the form of internal funds for residential property development, dominating 73.20% of total capital in the third quarter of 2022.
On the consumer side, housing loans disbursed by the banking industry remain the preferred source of financing residential property purchases, accounting for 74.53% of total financing.
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