Jakarta Property Market Review 4Q 2021
Cautious optimism for the Jakarta real estate market in 2022
- Yunus Karim
Office leasing activities slightly improved in the last quarter while downsizings remained to occur. However, overall FY2021 net demand still falls under negative territory.
A shopping mall completion caused a spike in net absorption while the condominium developers continued to be cautious in launching new projects.
Nonetheless, landed housing projects still received positive responses from the market. E-commerce and 3PLs firms remained the primary demand driver for modern warehouse space.
We hope you enjoy this quarter’s JPMR.