The Indonesian residential property price index (16 major cities) rose by 3.1% during the year to Q2 2016, according to Bank Indonesia, but when adjusted for inflation, property prices in the country actually fell by 0.39% in Q2 2016 from a year earlier. During the latest quarter, residential property prices rose by a meagre 0.36% (0.3% inflation-adjusted).
Nominal property price figures can be misleading in Indonesia, because inflation has been high (although now slowing). Residential property has been attractive to rich Indonesians and others partly as a protection against inflation.
All Indonesia’s major cities saw nominal property price rises during the year to Q2 2016. Batam led the price hikes with house prices rising by 10.65% (6.9% inflation-adjusted) during the year to Q2 2016. It was followed by Bandar Lampung (8.46%), Palembang (7.95%), Medan (6.25%), Bandung (5.77%), Makassar (5.66%), Banjarmasin (5.36%), Manado (5.27%), Surabaya(4.28%), and Padang (3.93%).
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Smart Real Estate Australia
July 26, 2016
Special Featured Estate agent in Australia. Smart Real Estate is a unique independent boutique real estate agency on the Gold Coast. As our clients have grown, so have we, but at all times we remain aware of our core values and beliefs which started back in 2007, when our founder, Mr Brad Scott opened our first office in Karloo Street, Chevron Island.