REPUBLIKA.CO.ID, JAKARTA - The price increase on housing is slowing down in 14 major cities in Indonesia, according to BI survey in the first quarter of 2014. Indonesia's housing price index in the first quarter of 2014 grew only 7.92 percent compared to 11.51 percent in the same period last year.
BI's executive director for communication, Tirta Segara explained that the price increase was caused by high price of building materials and labor costs.
The increase is shown on all types but espedially on smal size housing which increased 1.9 percent quarter to quarter (q to q). The highest price occurred in Makassar, South Sulawesi, for small type and Batam in Riau Islands for medium type.
"Economic growth in Makassar and Batam attracts developers to build more residential properties," Segara said recently.
Price increase slow down also occurred in other cities especially Surabaya (East Java) and Manado (South Sulawesi) for small house type.
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