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Used Home Prices Continue to Rise Through April 2022

Dzulfiqar Fathur Rahman 01/06/2022 15:30 WIB

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Used home prices are estimated to have increased by 3.37% in April year-on-year, according to 99 Group.

Used Home Sales Price Index (December 2021–April 2022)

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Used Home Prices Continue to Rise Through April 2022

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Used Home Sales Price Index (December 2021–April 2022)

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Used home prices are projected to continue rising during the December 2021-April 2022 period.

According to a report by 99 Group, a company managing a property sales website, the used home sales price index rose 3.37% (yoy) to 107.1 in April 2022 compared to the previous year.

This index is the highest in the last five months, as shown in the graph.

The supply of used homes is also expected to increase, reflected in the used home supply index, which rose 28.12% (yoy) to 123 in April 2022, according to 99 Group.

"Strategic policies implemented by the government until 2022 have made a significant contribution to boosting the property market to soar again. We hope that consumers and property businesses can utilize this momentum to the best of their ability," said Wasudewan, CEO of 99 Group Indonesia, in a press release on Tuesday (24/5/2022).

The government implemented an incentive policy for the Value Added Tax Borne by the Government (PPN DTP) for the property sector until September 2022.

With this policy, buyers of houses priced below Rp2 billion are charged 50% VAT, while buyers of houses priced between Rp2 billion and Rp5 billion are charged 75% VAT.

Editor : Adi Ahdiat

"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."

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Used Home Prices Continue to Rise Through April 2022

Used Home Prices Continue to Rise Through April 2022

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Used Home Prices Continue to Rise Through April 2022

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