The survey indicated that Indonesia's housing price index rose 3.4 percent year-on-year (yoy) and 0.8 percent quarter-on-quarter (qoq), and was ranked sixth, coming in behind Malaysia, Hong Kong, South Korea and New Zealand. Knight Frank said that ongoing crisis in Europe would have negative implications in most of Asia and the Pacific, which would in turn affect housing markets until the end of this year.
Knight Frank Senior Research Manager Hasan Pamudji said Indonesia was expected to continue to experience strong demand, although the new minimum down payment rule of 30 percent for motgage loans coming into force in June and the government's decision to pull the plug on the FLPP (Housing Liquidity Facility Loans) program for housing under 70 square meters could affect performance, particularly in middle to low end segments.
Source Jakarta Post
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