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Bank Indonesia's (BI) Residential Property Price Survey indicates an increase in residential property prices in the primary market. This increase is reflected in the 0.49% (qoq) growth of the Residential Property Price Index (IHPR) in Q1 2019, reaching a level of 208.37.
This growth in residential property prices is higher than the growth in the previous quarter, which was only 0.35%. BI estimates that in the following quarter, the IHPR will increase by 0.52% (qoq) to a value of 209.46. This is due to increases in the prices of building materials and labor wages.
This survey also reveals that the majority of consumers still rely on bank financing to purchase residential properties. The percentage of consumers using Home Ownership Credit (KPR) facilities in purchasing residential properties reached 74.16%.
"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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