GREATER JAKARTA INDUSTRIAL ESTATESDECEMBER 2018

MARKETBEATS
-0.11% 71.1% 70.2%
P R IC E G R O W T H D E MA N D G R O W T H SALES RATE
(QoQ) (QoQ)

HIGHLIGHTS ECONOMIC INDICATORS

12-months
Economy Remains Stable 4Q 18 4Q 17 Forecast

Gross Domestic Product (GDP) is expected to reach 5.1% for full year 2018. The Rupiah GDP Growth 5.10% 5.17%
experienced a slight appreciation of 3.0% QoQ to Rp.14,372 per US$ 1.00, whilst YoY
inflation reached 3.23%, slightly lower than the 3.61% rate in 2017. The stock market Inflation Rate (YTD) 3.23% 3.61%
saw an increase of 1.88% during the last quarter of 2018, with the composite index
Central Bank Rate 6.00% 4.25%
closing at 6,089 on December 17.
Source: Central Statistic Bureau & Central Bank of Indonesia
Lowest FY demand and more supply in 2019
Despite the highest recorded quarterly net demand of 42 Ha in the last quarter of 2018,
the annual net demand of 130 Ha in 2018 was the lowest in the last 5 years. The
previous lowest recorded net demand was in year 2016, with demand of only 146 Ha. MARKET INDICATORS
12-months
Q4 18 Q4 17 Forecast
The market supply is expected to pick up in mid 2019 with some major expansion from
some Estates towards the Subang area. In regards to the market demand, estates in the Overall Sales Rate 70.2% 69.4%
eastern corridor remained as the preferred area, especially in Bekasi, and dominated
Net Absorption (Ha) 42.1 30.53
80% of the total net demand in the review quarter.
A Cushman & W akefield
Research Publication Average Price (Rp/sm) 2,640,000 2,667,000
Price remains stable
Price is stable and expected to be remained so until mid 2019. In both IDR and USD, the
DATA
INTO prices decreased by 0.11% and improved by 2.80% as the dollar stabilized, averaging at
ACTION
Rp 2,640,000,- per sqm.

www.cushmanwakefield.com
 GREATER JAKARTA INDUSTRIAL ESTATES
MARKETBEATS DECEMBER 2018

Arief Rahardjo
Director, Research, Indonesia
OVERALL AVG.
Indonesia Stock Exchange CUMMULATIVE QUARTERLY YTD
Building 2, 15/F SUBMARKET INVENTORY DEMAND DEMAND
SALES AVG. LAND PRICE NET RENT
DEMAND
Jl. Jendral Sudirman Kav. 52-53, RATE (W/D)
Jakarta, 12190 (US$/SQ.FT
Tel: +62 2550 9500 (HA) (HA) (HA) (HA) (IDR/SQ.M) (€/SQ.M) (US$/SQ.FT)
arief.rahardjo@cushwake.com
PA)

Jakarta 1,089 942 0.0 0.0 86.47% 5,750,000 351.40 37.2 NA

Tangerang 772 524 0.0 3.0 67.85% 2,600,000 158.90 16.8 13.4
Bekasi 4,595 3,708 33.0 83.6 80.71% 2,624,819 160.41 17.0 6.6
Karawang & Purwakarta 3,389 2,344 1.5 23.7 69.15% 1,968,830 120.32 12.7 5.5
Serang 2,855 1,382 7.6 16.4 48.39% 1,675,000 102.37 10.8 3.9
Bogor 80 68 0.0 3.5 84.78% 2,000,000 122.23 12.9 2.7
GREATER JAKARTA TOTALS 12,780 8,967 42.1 130.2 70.2% 2,640,000 161.34 17.1 7.4

W/D = Warehouse/Distribution
NET ABSORPTION & LAND PRICE OVERALL SALES RATE

350 3,000,000 85%

300 2,500,000
80%
DATA 250
INTO 2,000,000
ACTION 200 75%
Historical Average = 71.7%
1,500,000
150
70%
A Cushman & W akefield 1,000,000 Historical Average = 71.7%
Research Publication 100

500,000 65%
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Net Absorption, Ha Price, Rp psm
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Copyright © 2018 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources considered to be reliable. The information may contain errors or omissions and is presented without any warranty or representations as to its accuracy.