Jakarta Property Market Review 1Q 2021
More speculative modern warehouses are coming online in Greater Jakarta
In the first quarter of 2021, some sectors were still facing a similar situation as in 2020, while others have shown some improvement.
With social restrictions still in place, a similar trend in office buildings continued with relocation and downsizing remaining as the theme, but there was no significant change in occupancy levels due to no new completions. Despite condominium buyers' persistence in being extremely cautious due to the uncertain times, one project was launched.
On the other hand, retailers have become more active in opening their new stores, resulting in positive demand and stabilised rental rates. Meanwhile, two new speculative modern warehouses were completed to cater to growing demand. Data centres have also emerged as alternative real estate investments.
We hope you enjoy this quarter’s JPMR.