Jakarta East and Tangerang's Property Market Remains Promising
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Property prices in several areas of Jakarta, Bogor, Tangerang, and Bekasi (Jabodetabek) have started to increase at the beginning of the year. The Rumah.com Indonesia Property Market Index (RIPMI) recorded a 5.6-point increase in the combined property price index in Tangerang Regency in Q1 2021, reaching 127.9 compared to Q4 2020. This was driven by a 9.1-point increase in landed house prices, while the apartment price index decreased by 4.9 points.
Meanwhile, in Tangerang City, the combined property price index in the first quarter of 2021 reached 122.6, a growth of 8.3 points compared to the previous quarter. This increase was also largely contributed by an 8.4-point increase in landed house prices. The apartment price index, however, remained negative at 100, down 3 points.
In East Jakarta, the combined property price index in the first quarter of this year remained stagnant compared to the previous quarter at 129.6. This is reflected in the landed house price index, which remained at 137.7, while apartment prices increased slightly to 99.5 from 99.1 in the previous quarter.
"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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