Denpasar Leads in Highest Used Home Price Increase in October 2024

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Nabilah Muhamad 04/12/2024 12:42 WIB

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According to Rumah123's report, Indonesian used home prices increased by 1.7% in October 2024. Denpasar led the increase with a 13.2% year-on-year (yoy) rise.

Percentage Increase in Pre-Owned House Prices in Several Major Indonesian Cities (October 2024)

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Denpasar Leads in Highest Used Home Price Increase in October 2024

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Percentage Increase in Pre-Owned House Prices in Several Major Indonesian Cities (October 2024)

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Based on the November 2024 Flash Report released by Rumah123.com, the trend of secondhand house prices in Indonesia in October 2024 increased by 1.7% year-on-year (yoy).

Nine out of thirteen major cities in Indonesia experienced an annual increase in secondhand house prices. Denpasar led the increase with 13.2% (yoy).

Head of Research Rumah123 Marisa Jaya stated that Denpasar consistently shows significant growth in secondhand house prices.

"As the economic, cultural, and tourism center of Bali, Denpasar has a strong appeal to investors and homebuyers, thanks to its strategic location, rapidly developing infrastructure, and tourism potential that not only supports the international and national hospitality sector but also drives the development of high-value residential housing," said Marisa in a written statement on Friday (29/11/2024).

Yogyakarta followed with an annual house price growth of 6.8% (yoy) in October 2024.

This was followed by Bogor with a 4.5% (yoy) increase, Semarang 3.9% (yoy), Surakarta 2.6% (yoy), Depok 2.4% (yoy), Tangerang 2% (yoy), Medan 0.7% (yoy), and Bandung 0.4% (yoy).

Meanwhile, secondhand house prices in Jakarta, Surabaya, Bekasi, and Makassar experienced a decrease, as shown in the graph.

"The decrease in the median house price in several cities provides a good opportunity to increase affordability for prospective buyers," said Marisa.

The calculation of the secondhand house price increase is based on the property platform database of 99.co and Rumah123.com from the 13 cities studied.

Editor : Erlina Fury Santika

"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."