Why Jakarta submarkets recorded varied apartment price movements in Q3

An analyst revealed different market dynamics.

In a report, Colliers said average selling prices for apartments across Jakarta posted modest growth in Q3 2025, reaching Rp 35.9 million/sq m. North Jakarta showed the strongest short-term momentum, while East Jakarta led annual improvement on the back of more affordable segments.

“In contrast, West Jakarta recorded a slight decline, and Central Jakarta remained flat. The CBD and South Jakarta continued to command the highest price levels, though with more moderate growth compared to other submarkets,” the report said.

Here’s more from Colliers:

The varied performance across submarkets reflects different market dynamics. West Jakarta’s decline was largely driven by new middle-class supply that intensified competition and prompted pricing adjustments. North Jakarta’s significant growth stemmed from the introduction of upper-class projects that lifted average prices.

In the CBD, premium prices persisted with subdued growth due to an already high base. East Jakarta’s steady improvement reflected ongoing demand in more affordable segments, while South Jakarta stayed relatively stable after adjustments in the previous quarter. Central Jakarta, on the other hand, remained flat due to the absence of notable new launches.

Looking ahead, price increases are expected to remain moderate through the end of 2025, as developers typically implement price adjustments at the beginning of the year rather than toward yearend. This trend will continue to be supported by VAT incentives and the recent BI Rate cut.

Over the longer term, annual growth of up to 2% is anticipated until 2027, underpinned by gradually strengthening demand and manageable new supply levels across Jakarta’s key submarkets.