Oversupply in Jakarta’s Apartment Market


The apartment market in Jakarta will experience excess supply until 2023, with the peak reaching 26,000 units available in 2020, according to Anton Sitorus, Head of property consulting company Research Savills Indonesia on Wednesday (1/22). South Jakarta will have the most abundant supply, with 31 percent of total available units, followed by West Jakarta with 25 percent. In terms of class, the middle-end category will dominate the Jakarta apartment market with a 37-percent portion.

Anton previously estimated that the average apartment sales in the capital city to reach 5,200 units per year by 2023, higher than sales in 2019, which reached 2,300 units. Last year, the upper-middle category dominated sales by 62 percent. Meanwhile, the average apartment price in Jakarta reached Rp 26.6 million per square meter (sqm) in 2019. The costs for upper-middle and upper categories are Rp 43.3 million per sqm and Rp 43.7 million per sqm, respectively.

Start your free trial.

If you would like to get a 30-day free unlimited access to all of our insights, please click “Start free trial” button below. If you already have an account, please login.

What do subscribers receive?

As a subscriber, you’ll receive daily insights, weekly business digests, and bimonthly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Enjoy a 30-day free trial, on us. Feel free to contact us with any additional questions you have.