Luxury Home Price Growth in Jakarta Continues to Plummet

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03/03/2017 18:59 WIB

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Luxury Property Price Growth in Jakarta 2012-2016

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Luxury Property Price Growth in Jakarta 2012-2016

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The increase in luxury home prices in Jakarta in 2016 was the lowest compared to previous years. According to a Knight Frank survey in the Prime International Residential Index (PIRI) 2017, the growth in luxury home prices in Jakarta was only 0.30 percent. After experiencing a 30 percent growth in 2012, the growth of house prices in Jakarta continued to decline due to the slowdown in the property business over the past three years.

Globally, Jakarta's position slumped to 54th out of 100 cities surveyed. In Southeast Asia, the Indonesian capital narrowly trailed Phuket, Thailand, which ranked 53rd with a 0.52 percent increase. Singapore, meanwhile, excelled at 23rd with a price growth of 3.40 percent. Jakarta only ranked higher than Bangkok and Kuala Lumpur, which were ranked 55th and 80th respectively.

"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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Luxury Home Price Growth in Jakarta Continues to Plummet

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Luxury Home Price Growth in Jakarta Continues to Plummet

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