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 2022:
Rentals will remain under pressure as vacancies is expected to increase again with the completion of large office projects in Jakarta CBD area in 2023, which may not be followed by the same level of demand over the same time span.
JAKARTA RETAIL Q4 2022:
The occupancy rate during the last quarter of 2022 stood at 77.4%, increased by 0.7% (YoY). Visitor traffic within Jakarta retail centers have improved significantly along with the holiday season and are expected to return to the pre-pandemic level in 2023.
DEBOTABEK RETAIL Q4 2022:
Closing the year of 2022, the occupancy rate within Debotabek area stood at 76.1%, increased by 0.3% (HoH). Within Greater Jakarta area, leased malls performed better with occupancy rate of 79.5%, increased by 1.9% (YoY).
CONDOMINIUM Q4 2022:
The average sales price of Greater Jakarta condominium experience the highest increment in the last three years, by 6.4% YoY, standing at Rp46,500,000 per sqm. The highest price increment was recorded in the secondary area at 5.8% QoQ and 16.2% YoY, whilst the price increments in other areas were relatively stable.
RENTAL APARTMENT Q4 2022:
Improved demand inquiries for Serviced Apartment was observed during the review quarter, coming mainly from short-stay guests looking for accommodation during the holiday season, bringing the average occupancy rate of this sub-sector to 62.5%, an increase of 0.4% QoQ or 7.7% YoY.
INDUSTRIAL Q4 2022:
By sector, Chemical (21.8%) was recorded to give the highest contribution to the demand, followed by data center of 19.3%, manufacture (16.3%), and automotive (11.6%), with other sectors such as logistic and warehousing, plastic, food and beverage, and others absorb the remaining balance.
HOTEL H2 2022:
During 2022, the increasing FIT business travelers, corporate meetings and staycation activities were observed to contribute to the increase of average occupancy level of the market from 47.9% in 2021 to 61.4% in 2022.
LANDED RESIDENTIAL H2 2022:
While the Middle segment remains to have the largest proportion of demand at around 32.1%, the portion of demand from Upper segment remains high, sharing about 24.6% of the total sold units, making it the second highest demanded segment during the review period.
