Indonesia
Jakarta office occupancy to reach 76% by year-end
Jakarta office occupancy to reach 76% by year-end
The average occupancy rate in the CBD was at 74.7% in Q1.
Jakarta apartment prices to rise by up to 2% between 2024 and 2026
Prices slightly increased by 0.6% in Q1.
Jakarta office space demand to hit up to 150,000sqm per year till 2026
Rightsizing continues to be a trend amongst occupiers.
Jakarta to see over 9,300 new residential units by 2026
Nearly half of these units will be completed this year.
Here are 5 Indonesian hospitality sectors that are slated to perform well this year
Business hotels are expected to grow by up to 8%.
Jakarta prime retail supply expected to be ‘scarce’: JLL
Though there is a notable new mall slated to open in the first half of 2024.
Over 1,600 rooms to enter Jakarta’s hotel market in 2024
This will cause the city’s hotel supply to grow by 2.9%.
Jakarta residential demand to remain limited in the next 12 months
New serviced apartments are expected to be completed in 2024.
Jakarta industrial tenant mix still dominated by 3PLs
Warehouses with dual functionality were in demand.
Jakarta CBD Grade A office rents decline 1.9% in Q4
Rents declined at a slower rate compared to previous quarters.
Asking prices for Jakarta CBD offices rise 2% in 2023
Prices hit approximately USD3,600.
Jakarta CBD cumulative office supply now at 7.4m sqm
Supply is also expected to increase significantly outside the CBD.
Jakarta has nearly 3 million sqm of unabsorbed office space in 2023
Almost 70% of these are located in the CBD
Serviced apartments dominate Jakarta’s new hotel supply in 2023
Over 70% of the new rooms to enter the market are from serviced apartments.
Flight-to-quality, competitive rents to dominate Jakarta’s office market in 2024
No new supply is expected for next year.
How did Indonesia’s real estate investment market fare in Q3?
The hotel and retail markets showed promise, office stabilised, and residential remained under pressure.
Jakarta retail occupancy rate rises to 72.8% in Q3
Thanks to the absence of new supply and robust mall visitations.
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