GREATER JAKARTA INDUSTRIAL ESTATES SEPTEMBER 2019

MARKETBEAT
-3.3% 136% 62.5%
PRICE GROWTH (YoY) DEMAND GROWTH (YoY) SALES RATE

HIGHLIGHTS ECONOMIC INDICATORS

12-months
GDP growth to be lower than expected Q3 19 Q3 18 Forecast
2019 GDP growth is forecast be 5.08% YoY, below Bank Indonesia’s original projection GDP Growth 5.00% 5.10%
of 5.1% - 5.3% YoY. The Central Bank also cut the benchmark rate (7-Day Repo Rate)
by 0.5% to 5.25%. On the currency side, the Rupiah remained stable at IDR14,166 per Inflation Rate (YTD) 3.49% 3.12%
US$1.00, while inflation showed a slight increase to 3.49% as of August 2019 (from
Central Bank Rate 5.25% 5.75%
3.26% in the previous quarter). The stock market composite index decreased by 85
Source: Central Statistic Bureau & Central Bank of Indonesia
points during the quarter, closing at 6,230 on September 25th.

Demand Regrow
Absorption of about 96 hectares on this review quarter shows that industrial estates
demand starts to reactive in terms of transaction after the final result of Indonesia’s MARKET INDICATORS
12-months
Q3 19 Q3 18 Forecast
general election. Quarterly take-up is relatively equal in both west corridors and east
corridors. The most significant contribution from the net absorption come from logistic Overall Sales Rate 62.5% 70.0%
and automotive industries.
Net Absorption (Ha) 96.0 24.6
Stable Price
Minor changes in price occurred based on the rupiah exchange rate in the value of USD. Average Price (Rp/sm) 2,555,000 2,643,000

As of September 2019, the average price is Rp2,555,000,- per sqm which has
decreased by 0.20% QoQ and 3.44% YoY. Until the end of 2019, the sale prices are
A Cushman & W akefield expected to remain stable.
Research Publication
www.cushmanwakefield.com
 GREATER JAKARTA INDUSTRIAL ESTATES
MARKETBEAT SEPTEMBER 2019

Arief Rahardjo
Director, Strategic Consulting, Indonesia OVERALL AVG.
CUMMULATIVE QUARTERLY YTD
Indonesia Stock Exchange Building SUBMARKET INVENTORY SALES AVG. LAND PRICE NET RENT
Tower 2, 15/F DEMAND DEMAND DEMAND
RATE (W/D)
Jl. Jendral Sudirman Kav. 52-53,
Jakarta, 12190 (US$/SQ.FT
Tel: +62 2550 9500 (HA) (HA) (HA) (HA) (IDR/SQ.M) (€/SQ.M) (US$/SQ.FT)
PA)
arief.rahardjo@cushwake.com
Jakarta 1,089 942 0.0 0.0 86.47% 5,750,000* 358.70* 37.7* 7.1
Tangerang 772 528 3.3 4.5 68.44% 2,600,000 167.67 17.1 13.4
Bekasi 5,056 3,755 21.0 46.6 74.27% 2,449,288 157.95 16.1 5.5
Karaw ang & Purw akarta 4,579 2,378 19.3 34.5 51.94% 1,943,808 125.35 12.7 5.5
Serang 3,095 1,504 52.4 122.6 48.60% 1,675,000 108.02 11.0 3.9
Bogor 80 68 0.0 0 84.78% 2,000,000 128.97 13.1 2.8
GREATER JAKARTA TOTALS 14,671 9,176 96.0 208.2 62.54% 2,555,000 159.39 16.8 7.1

W/D = Warehouse/Distribution *Secondary Market Price

NET ABSORPTION & LAND PRICE OVERALL SALES RATE

350
350 3,000,000
3,000,000 76%

300
300 2,500,000 74%
2,500,000

250 72%
2,000,000
2,000,000
70%
200
1,500,000
1,500,000 68%
150
66%
Historical Average = 67.2%
A Cushman & W akefield
Research Publication
1,000,000
1,000,000
100
64%
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Demand Price
www.cushmanwakefield.com Net Absorption, Ha Price, Rp psm

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