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Colliers Quarterly Property Market Report Q3 2021 Jakarta Office

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Still Challenging, Yet Promising Outlook

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.

Landlords need to communicate closely with tenants who may be at risk of having to early terminate leases and work to try to retain them. Landlords in oversupplied markets are advised to prioritise securing good quality tenants over increasing rents. Property owners must also be more accommodative by offering incentive packages, shorter lease terms, options in new leases and other benefits such as providing parking and signage. On the tenant side, we recommend occupiers capitalise on current weak leasing sentiment to negotiate better terms before the window of opportunity closes.


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Colliers Quarterly Property Market Report Q3 2021 Jakarta Office

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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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