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 Q4 2024
Net take-up of 37,700 sqm was recorded during the fourth quarter 2024, with total absorption for the whole 2024 stood at 161,600 sqm. Grade A offices contributed about 116,900 sqm or about 74% to the total absorption.
JAKARTA RETAIL Q4 2024
In the last quarter of 2024, the average base rent increased to Rp 825,500 per sqm per month, reflecting a 2.1% YoY and 1.2% QoQ increase. The average service charge remained unchanged, standing at Rp 195,900 per sqm per month, with a merely 0.8% YoY growth.
GREATER JAKARTA RETAIL Q4 2024
In the second half of 2024, the Debotabek area saw the addition of four new retail centers, contributing 91,500 sqm to retail space supply. Demand grew by 4.6% from the previous semester, raising the cumulative demand to 2,288,700 sqm.
CONDOMINIUM Q4 2024
By the end of 2024, the net take-up rate for both existing and proposed condominiums in Greater Jakarta showed a significant improvement, This growth was primarily driven by the middle-segment market, with Tangerang and Bekasi emerged as key locations for sales. Existing projects still dominated the sales, leveraging government VAT incentives to attract buyers.
RENTAL APARTMENT Q4 2024
By the end of 2024, the condominium-for-lease subsector recorded a notable rise of +4.7% QoQ and +4.1% YoY, driven by the appreciation of the USD against the IDR.
INDUSTRIAL Q4 2024
The data center (DC) sector emerged as the dominant market segment in Q4 2024, accounting for approximately 29.8% of transactions, indicating a sustained activity despite the prominence of the EV sector throughout the year.
HOTEL H2 2024
Demand for business hotel rooms in Jakarta is primarily driven by meetings hosted by private companies and government agencies, as well as business travellers during weekdays.
LANDED RESIDENTIAL H2 2024
In the second half of 2024, housing demand remained strong, with total take-up units for the semester increased by 105.8% compared to in the previous semester, in line with the rising supply.
