Jakarta’s serviced apartment market is on the cusp of transformation, driven by the recent inauguration of the Swissôtel Living Jakarta Mega Kuningan by Accor, which has unveiled 240 new units. As reported by Colliers, this addition propels the total supply of serviced apartments in the city to about 7,000 units as of the second quarter of 2025.
Looking ahead, the landscape is set to expand further with four new projects anticipated to be completed by 2027. Two developments by Ascott are slated for rollout in the latter half of 2025, while additional offerings from Ascott and Fraser are currently under construction and expected to come online by 2027. Together, these initiatives promise to introduce approximately 730 fresh units into the competitive market.
However, the current occupancy rate paints a less rosy picture. As of Q2 2025, occupancy has dipped to 55.6%, a decline attributed largely to the effects of a prolonged Eid holiday and school breaks, which disrupted the traditional leasing cycle typically seen from February to April. While the holidays may have sparked a brief surge in short-term stays, many tenants opted to hold off on long-term leasing decisions, waiting for the return to normal post-holiday routines. Looking forward, experts anticipate a rebound in leasing activity as the second half of 2025 approaches.
The introduction of new apartment projects is expected to invigorate the market, offering prospective tenants a range of modern and diverse leasing options. Notably, preferences are shifting among tenants, with a growing interest in pet-friendly accommodations emerging as a prominent trend, particularly among young professionals and long-term residents. This evolution in consumer demand is prompting operators to rethink and enhance their offerings, ensuring they align with the shifting expectations of the market.
What recent development has influenced Jakarta’s serviced apartment market?
The opening of the Swissôtel Living Jakarta Mega Kuningan by Accor has added 240 new units, raising the total supply to approximately 7,000 units as of Q2 2025.
How is the occupancy rate in Jakarta’s serviced apartment sector trending?
As of Q2 2025, the occupancy rate stands at 55.6%, reflecting a downward trend primarily due to the extended Eid holiday and school breaks.
What key tenant preference is shaping the future of Jakarta’s rental landscape?
There is a noticeable increase in demand for pet-friendly accommodations, particularly among young professionals and long-term residents, prompting property operators to adjust their offerings accordingly.
