Surabaya, Indonesia
Property prices · 2024 · Asia
Property price trend in Surabaya (2024–2026)
Property comparison — cities in Indonesia (2024)
| City | Centre /sqm | Outside /sqm | 1-Bed Rent | vs Surabaya |
|---|---|---|---|---|
| Surabaya | IDR 22,000,000 | IDR 15,000,000 | IDR 3,800,000 | — |
| Bali | IDR 35,000,000 | IDR 24,000,000 | IDR 5,500,000 | +59.1% |
| Jakarta | IDR 28,000,000 | IDR 18,000,000 | IDR 5,500,000 | +27.3% |
| Yogyakarta | IDR 14,000,000 | IDR 9,500,000 | IDR 2,500,000 | -36.4% |
Other Asia cities (2024)
Frequently asked questions
How much does property cost in Surabaya in 2024?
In Surabaya, the average price per sqm in the city centre is IDR 22,000,000, and IDR 15,000,000 outside the centre (2024 data). Prices have risen 10.8% since 2024.
How much is rent in Surabaya in 2024?
A 1-bedroom apartment in Surabaya rents for approximately IDR 3,800,000 per month in 2024. A 3-bedroom apartment costs around IDR 6,200,000/month.
Is it better to buy or rent in Surabaya?
Renting is generally more cost-effective in Surabaya. The price-to-rent ratio is 23.0x — it would take approximately 23.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 7.50%.
What are mortgage rates in Indonesia in 2024?
The average mortgage rate in Indonesia is approximately 7.50% as of 2024. With a price-to-rent ratio of 23.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Surabaya?
The average property price per square metre in Surabaya city centre is IDR 22,000,000 in 2024. Outside the centre, expect to pay around IDR 15,000,000/sqm.