House Price Developments in Depok: Luxury Homes See Price Drops

House prices in Depok generally increased in May 2023 compared to the previous year. This is recorded in the *Flash Report* released by Rumah123.com in June 2023.

"Year-on-year, up to May 2023, the Jabodetabek area recorded the following increases in house prices: Jakarta 2.6%, Tangerang 5.3%, Depok 5.0%, Bogor 8.3%, and Bekasi 4.9%," said the Rumah123.com team in their report.

"This *Flash Report* presents a crucial direct reference index for real estate professionals and the public to monitor price changes in the property market," they continued.

The increase in house prices in each city varies, depending on the size of the house. Here's a breakdown of the changes in the median house price in Depok based on size:

1. Houses ?60 square meters:

* May 2022: Rp557 million
* May 2023: Rp560 million
* Change: increased by 0.5% (year-on-year/yoy)

2. Houses 61-90 square meters:

* May 2022: Rp886 million
* May 2023: Rp900 million
* Change: increased by 1.58% (yoy)

3. Houses 91-150 square meters:

* May 2022: Rp1.4 billion
* May 2023: Rp1.42 billion
* Change: increased by 1.64% (yoy)

4. Houses 151-250 square meters:

* May 2022: Rp2.3 billion
* May 2023: Rp2.5 billion
* Change: increased by 8.7% (yoy)

5. Houses ?251 square meters:

* May 2022: Rp5.2 billion
* May 2023: Rp5.1 billion
* Change: decreased by 1.9% (yoy)

The figures above represent the median or middle value of house prices sold through the 99.co and Rumah123.com websites.

Based on this data, the median house price in Depok increased in almost all categories, except for houses ?251 square meters, where the median price decreased by Rp100 million in the last year.

Houses ?251 square meters are classified as luxury homes because they usually have a swimming pool, a gazebo for relaxation, and a large garage.

According to the real estate agency Ray White, in addition to being very expensive, these types of houses require high maintenance costs, and their market is very limited.