Residential property prices in Indonesia increased by 1.96 percent year-on-year during the third quarter of 2023, following a 1.92 percent gain in the previous period, pointing to the fastest pace of growth in three quarters, boosted by rises in costs for building materials. Prices of large houses accelerated (1.70% vs 1.49% in Q2), while those of both small (2.11% vs 2.22%) and medium properties (2.44% vs 2.72%) moderated. Among cities, prices rose the most in Batam (4.07%), Pontianak (3.00%), and Padang (1.59%). Meanwhile, sales of residential property shrank by 6.59% yoy in the third quarter of 2023 after declining by 12.30% in the second quarter.
