Indonesia's housing market remains sluggish
House prices were down by 0.48% during the year to Q1 2022
Indonesia’s housing market has hardly moved, with real residential prices in the country’s 14 largest cities falling slightly by 0.48% in Q1 2022 from a year earlier, following y-o-y declines of 0.28% in Q4 2021 and 0.16% in Q3 2021. House prices fell by 0.56% q-o-q during the latest quarter.
Demand still falling
Residential property sales fell by 10.1% in Q1 2022 from a year earlier, following declines of 11.6% in Q4 2021, 15.2% in Q3 and 10% in Q2, according to Bank Indonesia. On a quarterly basis, sales increased 1.38% in Q1 2022.
However, housing and apartment loans disbursed by banks in Q1 2022 rose by 10.61% from a year earlier and by 2.2% from the previous quarter. Read More...
