KPR Remains the Favorite Choice for Home Purchases in Q1 2022

Economics & Macro

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Dzulfiqar Fathur Rahman 23/05/2022 18:00 WIB

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Bank Indonesia reports that 69.54% of consumers used mortgages (KPR) to purchase residential properties in the first three months, 21.79% used staged cash payments, and the remainder used cash.

Home Buyer Proportions by Financing Source (January–March 2022)

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KPR Remains the Favorite Choice for Home Purchases in Q1 2022

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Home Buyer Proportions by Financing Source (January–March 2022)

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Most Indonesians still utilize the People's Ownership Credit (KPR) facility to purchase residential properties during the January-March period. This continues the trend from the previous quarter.

Bank Indonesia (BI) reported that 69.54% of consumers used KPR to purchase residential properties in the first three months. This proportion is slightly smaller than the 76.05% seen in the previous quarter.

“Meanwhile, from the consumer side, bank financing with KPR facilities remains the primary choice in purchasing residential properties, with a share of 69.54% of total financing,” said Erwin Haryono, Head of BI's Communication Department, in a press release issued on May 18, 2022.

BI also reported that 21.79% of consumers purchased homes with staged cash payments in the first quarter of 2022. This proportion is slightly larger than the 16.6% in the previous quarter.

Overall, the disbursement of KPR and apartment ownership credit (KPA) grew by 10.61% in the first three months year-on-year, continuing the upward trend seen since the fourth quarter of 2020.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."