Q4 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 2021

Base rental rate in Rupiah decreased further by 3.0% QoQ in the fourth quarter of 2021, inline with weak demand and decreasing average occupancy of the market.

Jakarta Retail Q4 2021

Average rental and service charge levels remained unchanged since the first PSBB restrictions were imposed in Jakarta. Given the current unstable pandemic condition, no landlords denoted a plan to increase their rental rate within the short-term period.

Debotabek Retail H2 2021

Average base rental rate of Debotabek retail space remained unchanged from that in the last year, standing at Rp 451,800/sqm/mo, for specialty retail space on the Ground Floor. Service charge also remained unchanged from that in the last year, landing itself at Rp135,000/sqm/mo.

Condominium Q4 2021

Greater Jakarta’s average price growth in the last quarter of 2021 was recorded at Rp. 43,700,000 per sqm, slightly increase by about 0.7% from that in the third quarter.

Rental Apartment Q4 2021

Despite the fluctuation of the Rupiah against US Dollar during the review quarter, average rentals of Purpose-built Rental Apartments, Serviced Apartments and Condominium-for-Lease sub-sector remained relatively unchanged at Rp. 239,339, Rp. 356,576 and Rp. 139,699 per sqm per month respectively.

Industrial Q4 2021

As of December 2021, the average land price in the Greater Jakarta area was recorded at Rp 2,558,000 per sqm (-1.2% YoY), with change due mostly to the exchange rate. Meanwhile, the average asking rental rate of warehouses in the Greater Jakarta area was recorded at Rp.73,000 per sqm / month.

Hotel H2 2021

Despite the general improving performance of the market in 2021, hotel room rates continued to be under pressure. Average Daily Rate (ADR) of hotels in Jakarta is 1.7% lower than that in the previous year, YTD.

Landed Residential H2 2021

Indonesian Government’s plan to gradually increase the VAT, to 11% starting from April 2022, may also affect public’s overall purchasing power, including to property sector.

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