Southeast Asia Outlook 2023: Bouncing Back Stronger
Southeast Asia (SEA) is expected to be one of the leading sources of growth for the global economy as the United States and Europe tiptoe around a potential recession.
Our latest paper explores how Southeast Asia real estate market is positioned to develop given the latest economic and property trends. We look at the impact of China’s re-opening and rising interest rates and provide our views on investment opportunities, rents and capital value outlook for major property markets in SEA.
In Indonesia, In the face of a global slowdown and inflationary pressures, the central bank forecasts Indonesian growth of 4.5% to 5.3% in 2023. This expansion is primarily driven by increased consumer expenditures, increased business activity, and improved mobility as a result of fewer COVID-19 restrictions in the country. However, following the high inflation that drove price increases in 2022, as well as the planned election in 2024, the Rupiah is still expected to depreciate to some extent between 2023 and 2024.