Bank Indonesia's Residential Property Price Survey (SHPR) results show that residential property prices in major markets continued to rise in the first quarter of 2024. This is evidenced by the **Residential Property Price Index (IHPR)** for the first quarter of 2024 increasing by 1.89% compared to the same period last year, a higher level than the 1.74% increase recorded in the fourth quarter of 2023.
Meanwhile, **residential property sales** increased by 31.16% compared to the same period last year, a significant improvement over the 3.37% increase in the fourth quarter of 2023. This sales increase was driven by sales increases across all types of housing.
According to the survey, the main source of funding for **residential property development** is internal funds from developers, accounting for 72.93%. On the consumer side, most new home purchases were made through **housing mortgage loans (KPR)**, which accounted for 76.25% of total financing.
Detailed survey results can be found on the official website of Bank Indonesia.
https://www.bi.go.id/id/publikasi/laporan/Documents/SHPR_Tw_I_2024.pdf
