Property Market Analysis

2023 Reflection and 2024 Outlook by Cushman & Wakefield

The world continues to face several risks and uncertainties, including China's economic slowdown, commodity price volatility, geopolitical complexities in Ukraine-Russia and Palestine-Israel, alongside climate change and the increase in global oil prices. These factors are impacting global economic growth, which is projected to remain low at 2.9% in 2023 and 2.8% in 2024.

However, our researcher believes that Indonesia remains strong with a solid economic foundation, showing consistent 5% growth over seven consecutive quarters. The growth projection for Indonesia in 2024 is expected to reach 5.2%. On the other hand, Indonesia's inflation in September 2023 remained low at 2.28%, with a high level of consumer confidence reflected in the Consumer Confidence Index (CCI), positive growth in the Real Sales Index, and a continuous trade surplus of USD 3.42 billion in September 2023.

Watch the recording to hear what our experts say.