Office space in Jakarta to increase

Foreign investors looking to expand their presence in Indonesia over the upcoming four years will find generous office options to choose from in Jakarta, according to a report from worldwide real estate services firm Colliers International.

Whilst total office space in Jakarta rose by just 1% during the first half of 2014, the capital will see an accumulated 10.7million square metres of new office space developed by 2018, up 51% from today‘s 7.1million square metres, according to the report released last Wednesday.

The projection assumes 74 buildings currently under construction or being planned will be completed on schedule. The increase will result in a decrease in office occupancy to under 90% from 96% at the end of the former half.

Foreign developers keen on Indonesia's property market

A number of foreign developers have laid eyes on Indonesia’s property market owing to the country’s massive population and economic growth of 5.5% - the highest of South East Asia.

It has been reported, investors from China, Korea, Malaysia and Singapore have expressed interests in extending property businesses to Indonesia. The property project types they are interested in, vary from residential projects including apartments to commercial projects, such as shopping centres and industrial estates.

For example, the Singaporean based Pacific Star Holdings Pte Ltd., intends to manage one property project in the Sudirman Central Business District (SCBD) in Jakarta and another one in Bali.

This is as they cited data from the United States Trade Department, highlighting that Indonesia quarters the world’s fourth-most populous country with 253.60million people, as the reason for investing towards the country’s property sector. It selected Jakarta as the project site, owing to the city’s profitable nature for property development.

Latest Jakarta news brought to you by Commercial People

 

Great news in Jakarta, the city has been labelled as the ‘hottest luxury property market in the world’ for a second consecutive year, as reported by renowned property consultant, Knight Frank. Jakarta’s market was labelled the hottest out of 30 cities in the world, based upon having the highest increase in prices for real estate – an increase of 38% during the year 2013. This increase was almost exactly similar to the increase during 2012.

More great news for Indonesia, Bali followed not far behind as the third hottest luxury property market in the world, with a 22% gain - Perfect timing for the exciting developments under construction, within the city.

 

Thinking of investing in property? It is evident that Indonesia is the best place to start, so check out www.commercialpeople.co.id - Coming soon.

Indonesia leads Southeast Asia residential market, says Jones Lang LaSalle

Buoyed by a strong domestic demand for housing and increasing property prices, Indonesia is seen as the leader in Southeast Asia residential market, according to a new Jones Lang LaSalle report.

The 21 percent annual increase in prices recorded by Jones Lang LaSalle in 2012 suggests that the country’s real estate economy is on the rise, ahead of other emerging markets like the Philippines and Thailand.