{
    "success": true,
    "data": {
        "id": 1730906,
        "msgid": "sales-of-small-type-houses-plummet-losing-appeal-1778487480",
        "date": "2026-05-11 12:55:00",
        "title": "Sales of Small-Type Houses Plummet, Losing Appeal?",
        "author": "",
        "source": "VIVA",
        "tags": "bisnis",
        "topic": "Property",
        "summary": "Sales of residential properties in Indonesia's primary market dropped sharply by 25.67% year-on-year in the first quarter of 2026, with small-type houses experiencing the steepest decline of 45.59%, according to Bank Indonesia's Residential Property Price Survey. While medium-type house sales grew by 8.28%, overall property price growth slowed to 0.62%, hampered by rising construction material costs, bureaucratic hurdles, and stable mortgage rates at 7.42%. This downturn signals challenges in the affordable housing segment, potentially impacting market recovery amid economic pressures.",
        "content": "<p>Jakarta \u2013 Sales of houses in the primary market fell sharply at the\nstart of 2026, particularly for small-type houses that have long been\nthe mainstay of the market. According to Bank Indonesia\u2019s Residential\nProperty Price Survey (SHPR) for the first quarter of 2026, overall\nresidential property sales contracted by 25.67% year-on-year (yoy). This\ncontrasts with the fourth quarter of 2025, when sales still grew by\n7.83%. The deepest decline occurred in small-type houses. The BI report\nstated that sales growth for small-type houses contracted by 45.59%\n(yoy), down from a high growth of 17.32% (yoy) previously. Meanwhile,\nsales of medium-type houses grew by 8.28% year-on-year, reversing from a\nminus 4.84% in the previous quarter. Large-type house sales still\ncontracted by 8.03%, though improved from a minus 10.95% previously. Not\nonly sales, house price growth also slowed. BI recorded the Residential\nProperty Price Index (IHPR) in the first quarter of 2026 growing by\n0.62% year-on-year, lower than 0.83% in the fourth quarter of 2025. \u201cThe\nresults of Bank Indonesia\u2019s Residential Property Price Survey (SHPR)\nshow that residential property prices in the primary market grew\nlimitedly,\u201d BI wrote in its report, as quoted on Monday, 11 May 2026.\nThe slowdown occurred across all house types. Small-type house prices\ngrew by 0.61% year-on-year, slowing from 0.76%. Medium-type houses grew\nby 0.88% from 1.12% previously, while large-type houses grew by 0.50%\nfrom 0.72%. By region, out of 18 cities surveyed, 10 cities experienced\na slowdown in house prices and three cities recorded a year-on-year\ndecline in house prices. Surabaya was one of the cities with the deepest\nweakening after house prices contracted by 0.27% year-on-year. On the\nother hand, Padang and Balikpapan still recorded house price increases\nof 1.21% and 1.44% year-on-year, respectively. BI also noted several\nchallenges burdening the property sector. The biggest obstacle came from\na 20.97% rise in building material prices, followed by permitting and\nbureaucratic issues at 18.15%, and mortgage interest rates at 16.47%.\nAdditionally, high mortgage down payments and taxation factors remain\nconstraints. Nevertheless, mortgage interest rates remained stable at\n7.42% in the first quarter of 2026.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/sales-of-small-type-houses-plummet-losing-appeal-1778487480",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}