Property Prices Increased in Q2 2021

Indonesia's property prices increased in the second quarter of 2021. This is reflected in the Indonesia Property Market Index, which stood at 112.8 in April-June 2021.

This value increased by 2.3% from the previous quarter, which was 110.3. The price index also rose by 2% compared to the same period last year, which was 110.6.

By segment, the detached house price index was recorded at 119 in the second quarter of 2021. This value increased by 2.36% from the previous quarter, which was 116.3. The figure also rose by 3.61% from the previous year, which was 114.9.

Meanwhile, the apartment price index was recorded at 109 in the second quarter of 2021, down 0.83% from the first quarter of 2021, which was 109.9. The figure also contracted by 4.4% from last year, which reached 114.

According to Rumah.com, the recovery of the property sector was driven by the national economic stimulus issued by the government. This stimulus boosted the situation in East Java and Jakarta in the first quarter of this year.

This also drove up the price of detached houses in Banten and West Java. However, there are still provinces that have not yet recovered, such as Yogyakarta.

Rumah.com compiled the Indonesia Property Market Index by collecting 400,000 residential property listings. Rumah.com then analyzed this data to show the movement of price determination from the supply side.