Jakarta non-CBD office rents to rise by 2-3% annually until 2029

Office upgrades continue as competitive leasing terms support relocations.

Jakarta office rents continued a measured recovery in Q2 2026, although landlords remain reliant on generous leasing incentives to attract tenants, according to Colliers.

Colliers reported average CBD asking rents reached about IDR218,000 per sqm per month during the quarter, while rents outside the CBD eased slightly to around IDR168,000 per sqm per month. Prime decentralised locations such as TB Simatupang remained resilient at close to IDR180,000 per sqm per month.

The agency forecasts CBD rents will gradually increase to around IDR245,000 per sqm per month by 2029, although this remains below pre-pandemic levels. Rents outside the CBD are expected to rise by around 2% to 3% annually over the same period.

Premium CBD buildings continue to command the strongest pricing, averaging around IDR347,000 per sqm per month, while Grade A CBD offices averaged about IDR234,000 per sqm per month.

Colliers said landlords are generally maintaining headline rents while competing through incentives such as rent-free periods, extended fit-out periods and fit-out contributions. Rent-free incentives can extend to as much as 12 months for larger or strategic tenants.

Average CBD service charges remained stable at around IDR86,000 per sqm per month, while decentralised markets averaged approximately IDR62,000. Colliers expects service charges to rise by about 3% annually through 2029.

According to Colliers, competitive leasing conditions continue to encourage companies to relocate into newer, higher-quality buildings rather than expand their office footprint, with occupiers increasingly assessing total occupancy costs, workplace readiness, accessibility, ESG performance and leasing flexibility instead of rental price alone.