Respondents predict further moderation to 1.53% (yoy) in the third quarter of 2022. (Photo: medcom.id)
Respondents predict further moderation to 1.53% (yoy) in the third quarter of 2022. (Photo: medcom.id)

Residential Property Prices Posted Modest Growth in Second Quarter of 2022: BI

Wahyu Dwi Anggoro • 16 August 2022 20:41
Jakarta: The latest Residential Property Price Survey conducted by Bank Indonesia (BI) indicated that residential property prices posted modest annual gains in the second quarter of 2022.
 
The Residential Property Price Index (RPPI) grew 1.72% (yoy), relatively limited compared to 1.77% (yoy) in the previous period.  
 
Meanwhile, respondents predict further moderation to 1.53% (yoy) in the third quarter of 2022. 

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"In terms of sales, the latest survey indicated stronger residential property sales in the primary market, accelerating to 15.23% (yoy) in the second quarter of 2022 after contracting 10.11% (yoy) in the first quarter of 2022," BI Communicatio Department Head Erwin Haryono said in a press release on Tuesday.
 
Based on the sources of finance, the Residential Property Price Survey also showed that most developers continued to rely on non-bank financing in the form of internal funds for residential property development, dominating 64.82% of total capital in the second quarter of 2022.  
 
On the consumer side, housing loans disbursed by the banking industry remained the preferred source of financing residential property purchases, accounting for 74.97% of total financing. 
 
(WAH)

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