Property Price Growth Slows in Q2 2019

Bank Indonesia's (BI) Residential Property Price Survey shows a slowdown in the growth of residential property prices in the primary market in the second quarter of 2019. This is reflected in the lower growth of the Residential Property Price Index (RPPI) compared to the previous quarter. In the second quarter of 2019, RPPI growth was only 0.2% (qtq), 0.29% lower than the 0.49% in the first quarter of 2019.

On a quarterly basis, the slowdown in residential property price increases occurred across all house types. For small houses, growth slowed from 0.72% (qtq) in the first quarter of 2019 to 0.37% (qtq) in the second quarter of 2019. Meanwhile, price growth for medium-sized houses decreased from 0.6% (qtq) to 0.18% (qtq), and for large houses from 0.2% (qtq) to 0.03% (qtq).

Year-on-year, price growth in the prime market slowed to 1.47% (yoy) compared to 2.04% (yoy) in the first quarter of 2019. As with the quarterly data, year-on-year growth also slowed for all house types. Price growth for small houses slowed from 3.18% (yoy) in the previous quarter to 2.18% (yoy). Price growth for medium-sized houses decreased from 1.82% (yoy) in the previous quarter to 1.32% (yoy), and for large houses from 1.16% (yoy) in the first quarter of 2019 to 0.92% (yoy) in the second quarter of 2019.

(Read Databoks: [Prices of Small Houses Increased the Most in Q1 2019](https://databoks.katadata.co.id/datapublish/2019/05/09/kenaikan-harga-properti-terjadi-pada-tipe-rumah-kecil-dan-menengah))