Jakarta to see nearly 5,000 new apartment units by 2027

Over half of these units will be handed over this year.

No new apartment projects were launched or showed signs of relaunching in Jakarta in early 2025, according to a report from Colliers. This absence reflects developers’ focus on maximizing sales of existing projects.

This approach aligns with the extension of the VAT incentive through the end of the year, which, as in 2024, remains more favorable for completed projects rather than newly introduced ones.

Here’s more from Colliers:

During this reviewed quarter, two apartment projects situated in South Jakarta—Apple 3 Condovilla and The Veranda Resort Residence (Jimbaran Tower)—have commenced their handover phase, collectively contributing 708 units. With these additions, Jakarta’s total apartment supply has expanded to 230,755 units (+0.3% QOQ and +1.7% YOY).

Moving forward, 4,861 units are expected to be handed over by 2027, with 51% slated for the remainder of 2025, 25% in 2026, and 24% in 2027. Among these, South Jakarta is expected to dominate, accounting for 72% of the upcoming handovers.

At present, West Jakarta holds the largest share of existing supply, comprising 24% of the total supply, which is projected to persist through 2027. Meanwhile, South Jakarta is expected to see a slight increase, rising from 20% to 21% by 2027, signaling a gradual shift in the distribution of supply across the area.