The residential property landscape in Jakarta is showing subtle yet telling signs of adjustment, with average apartment prices edging upward by less than 1% in the second quarter of 2025. According to the latest report from Colliers, the average asking price has reached IDR 35.9 million per square meter, marking a year-on-year rise that reflects a city grappling with shifting dynamics.
Notably, the south of the city, which had already undergone price corrections earlier this year, saw minimal price movement, particularly in the upper-middle market segment. “This stabilization has effectively curtailed further growth in prices during the quarter,” the Colliers report stated.
In contrast, areas outside of South Jakarta, especially the Central Business District (CBD), have experienced more pronounced price increases. The average price per square meter in the CBD now stands at IDR 53 million, a modest uptick fueled by heightened demand and the influx of new supply. Meanwhile, suburban areas are witnessing a surge in sales activity, driven by upcoming property handovers, resulting in significant pricing adjustments.
This burgeoning interest in secondary neighborhoods has led to an uptick in transaction volumes, creating a pricing catch-up effect that seeks to align these areas more closely with the established benchmarks in the CBD and South Jakarta. For instance, as of the second quarter, the average price in non-prime locations has climbed to IDR 27 million per square meter — a welcome development for sellers.
To entice buyers, developers have been employing a robust incentive strategy, showcasing offers that include fully furnished units and vouchers for furniture and electronics, alongside relaxed service charge and VAT conditions. However, a recent shift in promotional strategies became evident by the end of the first half of 2025, with VAT incentives dropping from a full 100% to just 50%, leaving some potential buyers wondering if they should hold out for a better deal. As one developer quipped, “Even a small tweak in taxes can feel like a game of Monopoly!”
What was the overall change in apartment prices in Jakarta in Q2 2025?
Apartment prices in Jakarta rose by less than 1%, with an average asking price of IDR 35.9 million per square meter.
Which areas in Jakarta saw the most significant price increases?
The Central Business District (CBD) and other non-South Jakarta regions experienced notable price hikes, with the CBD now averaging IDR 53 million per square meter.
How are developers attracting potential buyers?
Developers are leveraging a mix of incentives such as fully furnished units, furniture vouchers, and temporary waivers of service charges, although recent promotional shifts have reduced VAT incentives from 100% to 50%.
