Jakarta retail rents to rise 2% by end-2025

Rents grew by 1% in Q3.

According to a Colliers report, retail rental rate remained stable in Q3 2025, with modest growth across the market.

“In Jakarta, average rents reached approximately IDR 570,000/sq m/month—up around 1% YoY. Greater Jakarta recorded an average of nearly IDR 390,000, reflecting a similarly modest increase from Q3 2024. By year-end 2025, rents are projected to rise by about 2% compared to 2024,” the report said.

Here’s more from Colliers:

Premium and middle-upper malls continue to hold strong bargaining power, supported by prime locations, established tenants, and steady shopper traffic, these malls are less likely to adjust rental structures significantly, given their ability to command higher rates. In contrast, malls with weaker occupancy remain cautious, avoiding rent hikes that could deter tenants, and instead, prioritizing stability to support recovery.

Service charges also held steady at about IDR 160,000 in Jakarta and IDR 130,000 in Greater Jakarta. Most landlords are prioritizing operational stability over major large-scale capital improvements in the near term. However, modest adjustments are expected between 2025 and 2028, with service charge forecast to rise around 3% annually—mainly driven by landlords aligning costs with increasing operational expenses.