Indonesia Real Estate Market Outlook 2024
Navigating Uncertainty with Cautious Optimism
In 2024, the government maintains optimism on economic growth prospects. The Grade A office market is expected to continue benefiting from the 'flight-to-quality' trend. F&B, fast fashion, beauty, and entertainment sectors are anticipated to remain active in occupying prime malls. The residential sector is expected to benefit from the recent VAT waiver regulation, while the modern logistics warehouse market competition may increase due to new completions.
Despite the uncertainty, we believe that exciting opportunities lie ahead for Indonesia's real estate market.