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Residential Property Prices Grew 1.77% in Q1 2022

Vika Azkiya Dihni 19/05/2022 12:30 WIB

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Based on the results of Bank Indonesia's (BI) Residential Property Price Survey (SHPR), residential property prices in the primary market showed an upward annual growth trend in Q1 2022.

Residential Property Price Index (Q1 2019-Q1 2022)

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Residential Property Prices Grew 1.77% in Q1 2022

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Residential Property Price Index (Q1 2019-Q1 2022)

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Based on the results of Bank Indonesia's (BI) Residential Property Price Survey (SHPR), residential property prices in the primary market showed an increasing year-on-year growth in Q1 2022.

This is reflected in the Residential Property Price Index (IHPR) in Q1 2022, which grew by 1.77% year-on-year (yoy). This growth was higher than the IHPR in Q4 2021, which grew by 1.47% (yoy), and Q1 2021, which grew by 1.35% (yoy).

BI noted that the increase in IHPR occurred across all house types. Small houses grew by 2.01% (yoy), medium houses by 2.18% (yoy), and large houses by 1.11% (yoy). This growth was also higher than the previous quarter, which grew by 1.99% (yoy), 1.48% (yoy), and 0.93% (yoy), respectively.

Spatially, the highest IHPR growth occurred in Manado City at 5.07% (yoy), followed by Yogyakarta at 4.00% (yoy) and Pontianak at 3.97% (yoy).

The increase in year-on-year IHPR growth in Q1 2022 is in line with the increase in inflation of household consumer housing costs. This is indicated by the Consumer Price Index (CPI) sub-group for the maintenance, repair, and security of housing/homes, which stood at 2.59% (yoy), higher than 2.21% (yoy) in the previous quarter.

In Q2 2022, residential property prices in the primary market are projected to grow modestly by 1.16% (yoy), lower than 1.77% (yoy) in Q1 2022, but higher than 1.07% (yoy) in Q2 2021.

(Also Read: [Used House Prices Increased by 3.1% in March 2022](https://databoks.katadata.co.id/datapublish/2022/05/06/harga-rumah-bekas-naik-31-pada-maret-2022))

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."

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Residential Property Prices Grew 1.77% in Q1 2022

Residential Property Prices Grew 1.77% in Q1 2022

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Residential Property Prices Grew 1.77% in Q1 2022

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