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.
From $155,000
Completion in: 2025.III Total of 113 apartments
From $133,000
Completion in: 2025.II 148 units in total
From $109,000
Completion in: 2024.IV Total of 55 apartments
From $176,000
Completion in: 2024.III Total of 61 apartments
From $154,000
Completion in: 2025.II Total of 50 apartments
From $225,000
Completion in: 2024.IV Total of 19 apartments
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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