Asking prices for Jakarta CBD offices rise 2% in 2023

Prices hit approximately USD3,600.

Indonesian landlords are currently prioritising sales volume, so lifting asking prices took a backseat.

According to a Colliers report, due to relatively passive sales, profit-seeking actions in the secondary market have yet to significantly impact selling prices. 

Here’s more from Colliers:

Asking selling prices in the office-for-sale market also improved with the higher asking prices for some buildings in the CBD bringing the average to IDR 56.3 million in 2023, a 2% increase compared to 2022. Meanwhile, the asking selling price outside the CBD remained relatively stable at IDR 45.9 million in 2023. 

With strengthening occupancy levels and gradual improvements in rental rates, landlords and unit owners may consider increasing selling prices. However, the growth in asking selling prices is expected to be reasonable, with landlords and unit owners continuing to prioritise sales volume. 

As a result, the average asking selling prices, both in the CBD and outside the CBD, are expected to increase moderately at least until 2025.