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Colliers Quarterly Property Market Report Q3 2021 Jakarta All Sectors

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Still Challenging, Yet Promising Outlook

Jakarta Office

The office sector is still facing challenges throughout the remainder of 2021, but the pace of rental decline seems to be slowing.
Net absorption is still negative, occupancy rates have dwindled, and rents remain under pressure. Despite this, optimism has improved as we move towards 2022, particularly given a more positive outlook for economic growth.

Jakarta Apartment

Vaccination rates are being used as one of the indicators to assess the levels of Covid-19 curbs across Indonesia in a bid to speed up inoculation programmes while allowing people to go about their daily routines with the easing of public activity restrictions (PPKM). The PPKM level was downgraded and more transaction-related activities can be held in marketing galleries and show units.

Jakarta Retail

Arguably, the biggest business lesson from Covid-19 is that modern-day retail success is synonymous with flexibility and adaptability. Reflecting on the malls that decided to re-open, differentiation or special themes will become strategies used by landlords and retailers to survive mass store closures and demand challenges from customers.

Jakarta Industrial

The pandemic has led to changes in lifestyles which are altering behaviours as a result of an increased dependence on technology. Today, technology is also illustrating the development of industries in support of lifestyles and corporate requirements. The automotive industry has gained traction again but this time to more tech-savvy products like electric vehicles (EVs). We anticipate more EV manufacturers will consider Indonesia as their production base and further expect an expansion in data centres in several locations, mainly within industrial estates.

Jakarta Hotel

The increasing number of Covid19 cases in Indonesia has forced the government to implement emergency Community Activity Restrictions (PPKM). As a result, Bali had to postpone welcoming foreign tourists to suppress the spread of cases. This also resulted in a decline in hotel performance in Bali.


Colliers Quarterly Property Market Report Q3 2021 Jakarta All Sectors

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Ferry Salanto

Senior Associate Director



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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