October 2023 Used Home Price Increases in Jabodetabek: Bekasi Shows the Highest Rise

Based on data from 99.co Indonesia and Rumah123.com, the price trend of Indonesian used homes in October 2023 increased by 2.5% compared to October 2022 (year-on-year/yoy).

In the Jabodetabek area, the highest increase in used home prices occurred in Bekasi, at 4.8% (yoy) in October 2023. This increase has occurred for three consecutive periods.

The second highest increase was in Tangerang at 3.4% (yoy). Bogor followed in third place at 3.3% (yoy).

Depok and Jakarta occupied the fourth and fifth positions, with percentages of 3.1% and 1.9% (yoy) respectively.

The group's research team added that, generally across Indonesia, the highest increase occurred in Makassar at 10.5% (yoy), followed by Denpasar at 9.2% and Medan at 8.4% (yoy).

These three cities also experienced the highest price growth exceeding the annual inflation rate: Makassar (7.5%), Denpasar (6.7%), and Medan (5.9%).

99 Group Indonesia's Country Manager, Maria Herawati Manik, stated that there are positive indications from these changes. She sees that the potential investment value of properties in these cities could increase over time, presenting an attractive opportunity for individuals and investors seeking to diversify their portfolios.

"It can also be a good option for seeking stable long-term investments," said Maria in her official statement on Tuesday (November 21, 2023).

The calculation of the used home price increase uses a used home price index relying on a platform database containing 290,000 homes in 13 cities studied. The data is recorded in the *Flash Report November 2023*.

(See also: This List of Mid-Range Used Home Prices in DKI Jakarta in October 2023)