Jakarta Property Market Review 4Q 2020

The year 2020 was, indeed, a challenging year for much of the Indonesia real estate market. Nonetheless, some sectors have proven to be resilient amid the pandemic.

Government-sanctioned safety measures to combat the spread of COVID-19 resulted in relatively weak net absorption for office space, also, impacted shopping mall occupancy and, subsequently, rental levels. It may take some time for condominium demand to pick up since the investor buyers it mostly relies on will likely be extremely cautious.

Meanwhile, landed housing remains resilient, as demand is predominantly from end-user buyers. On the other hand, logistics will continue to offer good prospects in the long term and data centres also stand out as a growth area.

We hope you enjoy this quarter’s JPMR.

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