Jakarta Property Market Review 4Q 2022
Stepping forward with caution into 2023
- Yunus Karim
Net absorption in the Grade A office sector improved compared to 2021. Meanwhile, the landed housing sector is still attracting healthy demand, with the developers remaining active despite the end of tax incentives in September 2022.
Activities have also been seen for modern logistics warehouse space, with inquiries still driven by third-party logistics and the increasing presence of manufacturers/end-users. Prime shopping malls have also attracted a healthy level of visits.
Following the continued lifting of travel restrictions in the Asia Pacific, international visitation in Jakarta has significantly improved; however, domestic demand continues to remain predominant in the hotel sector.
We hope you enjoy this quarter’s JPMR.