Bank of Indonesia published its Residential Property Price Survey for the fourth quarter of 2024, indicating continued limited growth in primary-market residential property prices alongside a contraction in sales. The Residential Property Price Index increased 1.39% year on year, easing slightly from 1.46% in the third quarter of 2024. Primary-market residential property sales fell 15.09% year on year, driven mainly by weaker sales of small and medium houses, while sales of large houses were stronger. On financing, developers relied predominantly on non-bank internal funds, which represented 74.38% of total capital, while housing loans from banks remained the main financing source for buyers, accounting for 72.54% of total consumer financing.
Bank of Indonesia 2025-02-14
Bank of Indonesia survey shows primary-market residential prices rose 1.39% year on year while sales fell 15.09% in Q4 2024
Bank of Indonesia's Residential Property Price Survey for Q4 2024 shows limited growth in primary-market residential property prices, with a 1.39% year-on-year increase in the Residential Property Price Index. Sales contracted by 15.09% year on year, mainly due to weaker sales of small and medium houses. Developers primarily used non-bank internal funds for financing, while housing loans from banks were the main source for buyers.