ALL SECTOR MARKETBEAT REPORTS
Cushman & Wakefield Marketbeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.
CBD OFFICE Q3 2024
Another positive Net take-up of 53,500 sqm was recorded during the third quarter of 2024, bringing the total year-to-date net take-up to 123,800 sqm. Some tenants were observed moving to Grade A & B office buildings, taking the opportunity of the availability of better-quality premises at attractive rental rates.
JAKARTA RETAIL Q3 2024
The cumulative supply increased to 4,755,900 sqm (1.0% YoY and 0.8% QoQ), due to the addition of 36,400 sqm of new retail space in the CBD area. Meanwhile, demand declined by 1.1%, causing the occupancy rate to drop to 78.1%.
GREATER JAKARTA RETAIL Q2 2024
Debotabek area expect to see addition of eight shopping mall developments by the end of 2024 and early 2025. If all these upcoming centers adhere to their development schedules, the cumulative retail space supply is projected to increase by 10.2% by the end of 2025.
CONDOMINIUM Q3 2024
Four new condominiums were launched during review quarter, added 876 units to the proposed supply, marking the highest future supply addition since post-pandemic and signaling the initial recovery of the market.
RENTAL APARTMENT Q3 2024
Serviced Apartment sub-sector experienced a slight occupancy decline by -0.8% QoQ or +0.7% YoY, standing at 64.6%. The Purpose-Built sub-sector experienced a slight increase in occupancy, standing at 64.2% (+0.2% QoQ and +3.4% YoY).
INDUSTRIAL Q3 2024
Automotive-related sector remained as the largest share of demand, by 51%, showing an ongoing trend of Automotive sector in Greater Jakarta Industrial landscape. Another sector which demonstrates consistent land transactions this year is Fast-Moving Consumer Goods (FMCG).
HOTEL H1 2024
The 4-star hotels offer more affordable pricing compared to their 5-star counterparts whilst provide comparable comprehensive facilities, making them an attractive option to both business and leisure travelers.
LANDED RESIDENTIAL H1 2024
The end of the government’s full VAT exemption incentives contributed to the decrease in new supply, as developers are focusing on selling their ready-stock units or launching units that can be handed over before June 2024. From July to December 2024, the incentive will be reduced to a 50% VAT discount.
