Property Prices Rose 2.75 Percent in One Year

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28/11/2016 11:11 WIB

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Residential Property Price Index 2015-2016

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Residential Property Price Index 2015-2016

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Over the past year, residential property prices have increased by 2.75 percent. This is evident from a Bank Indonesia survey release, showing that the residential property price index in the primary market rose to 193.83 from 188.65 in the same period last year. Compared to the previous quarter, residential property prices also rose by 0.36 percent. In the fourth quarter of 2016, property prices are projected to rise another 0.28 percent.

The increase in the prices of building materials and labor costs is the main factor driving the increase in property prices in the third quarter. In addition, high demand for housing is also a potential factor contributing to the increase in property prices in this primary market. This price increase is also influenced by various other factors such as security, peace and order, flood-free locations, and investment certainty.

"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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Property Prices Rose 2.75 Percent in One Year

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Property Prices Rose 2.75 Percent in One Year

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