Second-Hand House Prices Are Increasing, Good News for the Property Business


Good news blows for property businesses in early 2022. The Indonesian property business is reported to have bright prospects this year. Based on internal data from the 99 Group, it is noted that the movement of national used house prices, which is observed from various market trends in various major cities in the country, is increasing.

Deputy CEO of 99 Group Indonesia Wasudewan, stated that in the last update in December 2021 yesterday, there was an overall increase in the price of second-hand house properties by 3.7 percent (YoY). This number has increased compared to 2020.

He also added that an increase also occurred from the supply side where there was growth at 6.0 percent in December 2021 compared to December 2020.

Second-hand house in Greater Jakarta

They noted that in the Greater Jakarta area, the price of used houses in Depok rose 1.6 percent month-to-month. Then the price of used houses in Tangerang decreased by 0.2 percent, while in the Bogor area it decreased by 0.6 percent.

When referring to annual data, from December 2020 to December 2021, the price of used houses in Jakarta rose by 2.1 percent, then Tangerang by 5.6 percent, Depok by 8.2 percent, Bogor by 4.5 percent, and Bekasi by 3. ,6 percent.

From this data, it can also be seen that the most popular locations for house searches are in the Greater Jakarta area, namely in the Tangerang area. The city has a percentage of 13.5 percent of the total listing of home inquiries in Indonesia.

Wasudewan added, “The next most popular area is West Jakarta with an 11.4 percent market share, followed by South Jakarta with 10.0 percent. Then in North Jakarta, it is 5.8 percent, East Jakarta is 4.5 percent, and Central Jakarta is 2.3 percent.”

Economy rises, property rises

According to the prediction of property observer Panangian Simanungkalit, the property business in Indonesia will increase as the economic recovery also increases. The increase in the property business is in line with the increase in the economy.

In fact, when referring to the prediction of Bank Indonesia which says that the Indonesian economy will increase by 4.5 percent if the pandemic conditions are resolved.

With the increase in the economy in Indonesia, many sectors are also affected, including the property sector. It is estimated that with the increase in the Indonesian economy which can reach 4.5 percent, the property sector can grow 15 percent compared to 2021. Of course, this is very good news, because the property business is a long-term business.

Seeing the upward trend in used house prices and high demand, the property business is expected to strengthen. This is a positive signal for property entrepreneurs who want to invest again after a long wait and see.

It is known previously, many property entrepreneurs prefer to wait and see to refrain from investing because the state of economic stability in Indonesia is being disrupted. This is because the new variant of Covid-19, Omicron, is increasing sharply, especially in the Greater Jakarta area.