Per Quartal 3 and 4, 2016 Property Prices Still Slowing

Meanwhile, the central bank survey also found that the Residential Property Price Index in the third quarter of 2016 recorded slowed. Residential property price index stood at 193.83 or 0.36 percent, little changed. This increase is likely to slow down compared to the previous quarter which recorded 0.64 percent. Reviewing Propereti magazine BI survey results which indicate that property prices per quartal 3 2016 still showed a slowdown.

Mentioned in the fourth quarter 2016, residential property price index on a quarterly basis (qtq) is predicted to slow down 0.28% (qtq), compared to 12:36% (qtq) in the third quarter of 2016. Lowest house price increase is predicted to occur in the type of large (0.22%, qtq).

Meanwhile, based on its territory, the annual rise in house prices occurred in Denpasar lows of 0.72% from the previous year. While the rise in house prices occurred in Manado, at 8.77% year on year. Note this is the same as the second quarter of 2016. Pertubuhan index of home prices in Manado in the third quarter of 2016 stood at 302.89, up by 8.77 percent on an annual basis. Meanwhile, if compared to the previous year in the same period, the level of property price index recorded 278.48 Manado.

Meanwhile a quarterly basis, Surabaya highest price recorded an increase by 1.96% from the previous quarter, while home prices in Denpasar, Palembang and Pontianak decreased respectively by -0.13%, -0.56%, and -0.12% in line with sluggish demand.

“The rise in prices of building materials and labor is still a major factor in rising home prices. Slowing house price increases are expected to continue in the fourth quarter of 2016, “said Tirta.

Most respondents found the main factor that can inhibit the growth of the property business is the mortgage rate (20.18%), a house down payment (18.01%), licensing (16.22%), the rise in prices building materials and tax (14.28%).

Based on the location of the project, mortgage rates highest in Lampung (13.67%) while the lowest mortgage rates were in Nanggroe Aceh Darussalam (10.39%). On the financing side, a number of developers (56.24%) stated that internal funds is still a major source of financing for property development. Its composition, retained earnings (48.79%), paid-in capital (38.40%), others (9.46%), and the joint venture (3.35%). MPI MRR. (MPI digital version can be accessed via: http://ift.tt/2ewFNxN) More practical and more economical.

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