Positive start at the beginning of the new year
Insight
Jakarta Property Market Dynamics Q1 2024
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.