Syarifah

Jakarta CBD Office Market Overview

Rentals remained under pressure despite stronger demand coming from flight-to-quality and group company consolidation as double-digit supply continued to outpace absorption.

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Jakarta Industrial Market Overview

Despite slower sales absorption, asking land prices remained relatively stable. Manufacturing, Automotive-related and Data Center continued to contribute as the major demand drivers of land sales.

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Jakarta Retail Market Overview

The retail market rebounded strongly supporting its sales expansion, underpinned by increased footfall and consumer spending. However, the upward trend may still be clouded with concerns of inflationary pressures and cautious economic…

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Jakarta Industrial Market Overview

Data center, chemicals and electronics continued to perform as the primary drivers of land sales on the back of economic resilience and the lifting of all Covid restrictions.

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Jakarta Rental Apartment Market Overview

With the returning of expatriates and business activity back to normal, the rental apartment market continued to see further improvement in occupancy and asking gross rentals.

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Jakarta Strata Condominium Market Overview

Demand for strata condominiums in Jakarta remained weak despite the re-opening, with potential buyers—especially investors—still cautious about buying. Concerns over supply glut, rising cost of construction and higher interest rates…

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Jakarta CBD Office Market Overview

The Jakarta office market showed signs of improvement after the Covid-19 restrictions fully lifted and returning to normality. However, rents continued under downward pressure despite recording positive absorption.

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Jakarta CBD Office Market Overview

The improving pandemic situation in early part of 2022 has led employees to gradually return to office, along with the resurgent of market activities. However, excess new supply and double-digit vacancies will put further downward pressure…

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Industrial Market Overview

Following the lifting of lockdown measures, pent-up demand has strengthened the industrial land sales volumes in the first half with data center and chemicals industries continuing to emerge as key sources of demand.

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Jakarta Retail Market Overview

Two years after the pandemic emerged, the market recovery continued to gain positive momentum in the first half, leading to increased mall foot traffic and higher spending. After all, potential inflationary headwinds may hold back the…

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Jakarta Condominium Market Overview

The pre-sales rate in the first half of 2022 was registered flat, with the market expected to remain sluggish despite increased activities and the extended VAT waiver. Excess supply, increased cost of construction and potential rising…

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Jakarta Rental Apartment Market Overview

The total cumulative supply for both serviced and purpose-built rental apartments in the second half of 2021 decreased slightly by 0. 7% (yoy) to 8,919 units with a conversion of one non-serviced apartment into a hotel accommodation. For…

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Jakarta Condominium Market Overview

With the record low added new supply of condominium units, the cumulative total supply increased only slightly by 0. 9% from the end of 2020 to 225,563 units, representing an additional supply of 3,872 units in the second half of 2021.

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Jakarta Retail Market Overview

Following the re-opening of retail malls and stores after the temporary closures in July to mid-August 2021 due to the Delta-variant cases, the Jakarta retail market managed to recover with increased mall foot traffic and improved private…

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Jakarta CBD Office Market Overview

Office inquiries started to gradually recover in the fourth quarter of 2021 after the peak of second wave in the third quarter, causing mobility and activity restrictions. New speculative projects in the pipeline for 2022 completion will…

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Industrial Market Overview

With greater optimism and in anticipation of future rising inquiries, the cumulative total supply in the Greater Jakarta area increased by 4. 1% (yoy), recording at 13,711 hectares in the second half of 2021. Combined, Bekasi and Karawang…

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Indonesia Industrial Property Investment Guide 2021

Indonesia’s Government has been increasingly robust in its attitude to attract foreign investments over the past decade. The country has been steadily rising in its ease-of-doing-business rankings in recent years as a result of changes to…

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Jakarta Condominium Market Overview

The Jakarta Condominium market continued to experience negative impacts from the pandemic and economic downturn. Sales performance remained stagnant given the weak buying sentiment and looming uncertainty. Surging Delta variant cases in…

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Industrial Market Overview

In the first half of 2021, the cumulative total supply in the Greater Jakarta area increased slightly by 2.65%, posting at 13,422 hectares. Bekasi and Karawang continued to account for the largest share of existing industrial land supply at…

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Jakarta Retail Market Overview

Increased mall foot traffic and stronger traffic flows to digital platforms helped retailers to regain sales momentum, particularly during the Idul Fitri festive season.

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Jakarta CBD Office Market Overview

A declining office market trend continued in favor of tenants despite the economic rebound of 7.07% (yoy) in the second quarter of 2021. Rising cases since June caused by new Covid-19 variants will hinder the recovery, facing a risk of fast…

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