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Colliers Quarterly Property Market Report Q2 2021 Jakarta Apartment and Expatriate Housing

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In this quarter, the government decided to extend the VAT incentive programme until the end of December 2021 as the sales growth has remained disappointing. However, the consequence is that developers will continue to have difficulty in raising their asking price. Also, the number of COVID-19 cases in Indonesia, especially in Jakarta, has risen again, making consumers more cautious than before as conditions become even more uncertain. Therefore, we assume there will be no change in the market until the end of this year and hope for recovery next year.

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Colliers Quarterly Property Market Report Q2 2021 Jakarta Apartment and Expatriate Housing

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Ferry Salanto

Senior Associate Director

Research

Jakarta

As Head Research Department, Ferry is in charge in providing property market knowledge for internal purposes and for clients. The scope of sectors covered in the quarterly market report comprises office, apartment, retail, hotel and industrial estate.

In regional tasks, the Heads of Research of each country work together in providing regional market reports covering the Asia Pacific region and globally. Currently Research Department is not only operating as a cost-centre department, as he and his team have been assigned by the Central Bank to provide monthly market information.

On the consulting front, the task involves providing a wide range of advisory services to our clients. Working closely with Consulting Department, we help clientsby preparing feasibility studies to determine whether their property projectsare viable from both financial or marketing aspects. 

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