Positive start at the beginning of the new year
Insight
Jakarta Property Market Dynamics Q1 2024
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Indonesia's economic growth is expected to persist this year as the government maintains an optimistic outlook. Net demand for office spaces recorded a positive figure in both CBD and non-CBD areas across all grades. The F&B sector, fashion, and beauty continue to drive space demand in shopping malls.
Despite weak demand for condominiums, there was a slight improvement compared to the previous quarter. Healthy demand for modern logistics warehouses continues to be driven by third-party logistics providers. Luxury hotel RevPAR in the first three months of 2024 has exceeded pre-pandemic levels.
Our Jakarta Property Market Dynamics report provides an overview of the Jakarta property market, demonstrating JLL's commitment to shaping the future of real estate for a better world.