JAKARTA MARKETBEAT REPORTS

Arief Rahardjo • 24/01/2020
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

CBD Office: Following four consecutive years of declining occupation, the overall occupancy rate of Jakarta’s CBD office market started to show improvement by the year end, driven by some tenant expansions and lower additional supply delivery during the year.

Non-CBD Office: South Jakarta still leads the market with 31% of the total net take-up rate of non-CBD office, followed by West and Central Jakarta, whilst offices in East Jakarta absorbed the least demand.

Condominium:  In response to the market slow down, declining launching of new projects was observed during 2019.

Retail:
Jakarta Retail: In the last quarter of 2019, 3 new retail centers were completed in Jakarta, adding approximately 21,100 sq m of retail space to the market.
Debotabek Retail: To close out the year, the Debotabek area saw the addition of three new retail centers, that brought the total supply of retail center space in the Debotabek area to 2,450,400 sq m.

Industrial: No new supply entered the market during the forth quarter 2019. Only a small expansion added 14,684 hectares of industrial land to the total supply in Greater Jakarta area.

Landed residential: In the overall Greater Jakarta market, the middle segment houses remained to contribute to the highest proportion of housing transactions in the second half of 2019.

Rental Apartment: New proposed Serviced Apartment projects are expected to operate in 2020 and will contribute about 326 units to the future supply of Jakarta Serviced Apartment, and will bring the total to 5,239 units.

Hotel: Additional supply of 689 hotel rooms, compromising 201 rooms of 3-star and 488 rooms of 5-star, was recorded in this review quarter, cumulating the total supply of hotel rooms in Jakarta to around 40,900 rooms. 

Learn more by clicking our most recent Jakarta MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Jakarta CBD Office MarketBeat

Total proposed supply set to enter the market in 2020 is projected at approximately 320,000 sqm; 93% of which will be of Grade-A quality.

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Warehouse Internal Rack
Jakarta Industrial MarketBeat

In 2019, the industrial market remained active with most inquiries coming from logistic companies.

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Shopping Retail
Jakarta Retail MarketBeat

Jakarta Retail: With a number of major projects undergoing refurbishment in Jakarta, rents are expected to remain relatively stable.

Debotabek Retail: With few major retail centers completed in 2020, rental rate and service charge in Debotabek area are expected to remain relatively stable.

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Warehouse Internal Rack
Jakarta Condominium MarketBeat

There was a record high of completed project in 2019 of 36,066 units, compared to 32,522 units in 2018.

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Warehouse Internal Rack
Jakarta Rental Apartment MarketBeat

With new demand inquiries have been identified for the beginning of 2020, higher occupancy is forecast for the Purpose-Built Rental sub-sector and Serviced Apartment sub-sector next year.

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Warehouse Internal Rack
Jakarta Landed Residential MarketBeat

Similar to in the previous semester, housing sales in the Greater Jakarta area continued to increase to 94.54% during the review semester.

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Office Buildings CBD
Jakarta Non CBD Office MarketBeat

Lower new supply with several projects postponed to 2020 as the result of slowing market conditions was observed during the review quarter.

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Warehouse Internal Rack
Jakarta Hotel MarketBeat

In line with the country economic outlook, the hotel performance is projected to remain relatively stable in the upcoming year, with steady occupancy and stable room rate. 

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