Property prices in Indonesia on the rise
According to the latest data from Bank Indonesia’s Property Price Index (IHPR), prices of new buildings have been rising steadily.
In the fourth quarter of 2023, new building prices increased by 1.74% compared to 2022. This increase was mainly driven by small properties, whose prices increased by 2.15 per cent, while prices of medium and large houses increased by 1.87% and 1.58%, respectively.
$415,000
Total area 80 m² 1 bedroom
$180,000
Total area 82 m² 1 bedroom
From $120,000
Yield 10.0% Completion in: 2028.IV
From $145,000
Yield 10.0% Completion in: 2028.I
From $97,000
Yield 10.0% Built in 2026
From $248,000
Yield 9.0% Completion in: 2027.III
From $197,000
Yield 8.0% Built in 2026
From $126,000
Yield 8.0% Completion in: 2027.II
The report’s data showed that 10 out of the 18 cities surveyed recorded an increase in house prices in the fourth quarter of 2023. Pontianak, Banjarmasin and Manado saw a notable jump in property values, which rose by 3.57%, 0.70% and 0.32% year-on-year respectively.
Despite the increase in prices, sales in the property market are on the rise. The increase in sales applies to all types of properties, especially medium and large properties, with an increase of 6.29% year-on-year.
Source: Expat Life in Indonesia
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