Residential property prices in Indonesia climbed by 1.79 percent year-on-year during the first quarter of 2023, after a 2 percent growth in the previous period. It was the weakest growth in new home prices since the second quarter of 2022, due to drops in sales of residential property, amid rising costs for building materials and interest rates. Prices eased for all categories: small (1.77% vs 2.08% in Q4), medium properties (2.76% vs 3.22%), and large house prices (1.36% vs 1.43%). Among cities, prices grew the most in Pekanbaru (4.17%), Banda Lampung (4.08%), Yogyakarta (3.41%), Batam (2.60%), and Pontianak (2.26%). Sales of residential property shrank by 8.26% yoy in the first quarter of 2023, reversing from a 4.54% gain in the fourth quarter of 2022. source: Bank Indonesia
House Price Index YoY in Indonesia averaged 3.86 percent from 2003 until 2023, reaching an all time high of 13.51 percent in the third quarter of 2013 and a record low of 0.96 percent in the first quarter of 2021. This page includes a chart with historical data for Indonesia House Price Index YoY. Indonesia Residential Property Price Index YoY - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
House Price Index YoY in Indonesia is expected to be 2.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Indonesia Residential Property Price Index YoY is projected to trend around 2.60 percent in 2024 and 3.20 percent in 2025, according to our econometric models.