House Sales Average Up 24% in Q1 2019

Based on Bank Indonesia (BI)'s Residential Property Price Survey report, sales of residential properties in the first quarter of 2019 grew by 23.77% compared to the previous quarter (qtq). This growth is an increase compared to the previous quarter, which experienced a 5.78% decrease (qtq), and is also higher than the growth in the first quarter of 2018, which only grew by 10.55%.

This improvement in sales was driven by increased sales of both small and large residential units. Furthermore, the stable growth in sales of large houses also positively influenced the overall residential property sales figures.

Sales of small-type houses showed a significant increase. While experiencing a 12.28% decrease in the fourth quarter of 2018, they increased to 30.13% in the first quarter of 2019. The same trend occurred for large-type houses, which saw a 24.16% decrease in the fourth quarter of 2018 but increased by 24.56% in the first quarter of 2019. Meanwhile, growth for medium-type houses slowed from 13.46% in the fourth quarter of 2018 to 13.33% in the first quarter of 2019.