JAKARTA, May 6 (Xinhua) -- Indonesia recorded a modest growth in residential property sales amid subdued price increases, according to the central bank on Tuesday.
Residential property sales in the primary market grew 0.73 percent year-on-year in the first quarter of 2025.
Meanwhile, the Residential Property Price Index rose 1.07 percent, lower than the 1.39 percent growth in the previous quarter.
"The increase in residential property prices was mainly driven by a rise in the sales of small-sized houses, while sales of medium and large-sized houses declined," said Ramdan Denny Prakoso, executive director of the Communication Department at Bank Indonesia.
On the financing side, property developers continued to rely heavily on internal funds, which accounted for 77.28 percent of the total funding for residential property development.
On the consumer side, the majority of home purchases in the primary market were made through mortgage financing schemes, with Home Ownership Credit making up 70.68 percent of total financing. ■
