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Jakarta Post

House prices in Riau Islands highest in RI

  • Winny Tang

    The Jakarta Post

Jakarta   /   Fri, September 14 2018   /  02:42 am

An index by state-owned lender Bank Tabungan Negara (BTN) has revealed that housing prices in Riau Islands and Jakarta are the highest in the country, as the two provinces continue to see steady economic growth and rising demand for housing.BTN’s house price index, which was introduced for the first time on Thursday, revealed that housing prices in Riau Islands were the highest of all provinces in the country, followed by the capital.BTN’s director of strategy, risk and compliance, Mahelan Prabantarikso, said that Riau Islands had Batam — home to many industrial areas and an emerging transport hub — to thank for its high housing prices.“In Riau Islands, especially in Batam, the price of housing has jumped drastically, which pushed the index up. This is because as the economy in Batam has improved, prices have surged,” Mahelan said during an event to introduce the index in Jak...