ALL SECTOR MARKETBEAT REPORTS
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 2023
Despite the slower transaction activities compared to in the previous quarters, a positive net take-up of 66,300 sqm was recorded in overall CBD office market during the fourth quarter of 2023, bringing the average occupancy rate of Jakarta CBD Office market by the end of December 2023 to 73.0%.
NON-CBD OFFICE H2 2023
Despite the slower transaction activities compared to in the previous semester, a positive net take-up of 10,700 sqm was still seen in overall Non-CBD office market during the second semester of 2023, bringing the total absorption for the full year 2023 to 41,600.
JAKARTA RETAIL Q4 2023
The stable rental rates and increase in service charge, may indicate a balanced strategy by landlords to retain tenants and at the same time, maintain revenue streams in response to the operation cost inflation.
DEBOTABEK RETAIL H2 2023
Occupancy rate of the retail market is expected to face continued pressure due to the influx of upcoming supply in the next quarters while exhibited modest growth of base rent and service charge signaling a significant shift after nearly four years of stagnant growth.
CONDOMINIUM Q4 2023
Supply levels are expected to stay subdue until the second semester of 2024 due to the upcoming Presidential Election and Idul Fitri in the first semester, during which buyers typically defer their purchasing decisions.
RENTAL APARTMENT Q4 2023
No new supplies from Purposed Built and Serviced Apartment projects were recorded during the fourth quarter of 2023 as multiple projects that were scheduled to open in the fourth quarter of 2023 were postponed to 2024.
INDUSTRIAL Q4 2023
In anticipation of the ongoing market competition, average rental rate of leased warehouses in the Greater Jakarta area will remain relatively stable, at around Rp 77,000 per square meter per month.
HOTEL H2 2023
It is estimated that the target total passenger arrivals in 2023 of 23 million passengers in Soekarno-Hatta International Airport will be achieved, surpassing that in year 2019 and this will impact on the improvement of room occupancy in 2024.
LANDED RESIDENTIAL H2 2023
Inflation that affects construction costs and the continuous infrastructure advancements in Greater Jakarta, including projects such as MRT, LRT, and toll road expansions which lead to land price increment, is anticipated to further increase the average selling prices of houses in 2024.