GREATER JAKARTA INDUSTRIAL ESTATES JUNE 2019

MARKETBEATS
-0.27% -88.21% 61.9%
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
Steady Growth at Lower Range Q2 19 Q2 18 Forecast
GDP growth in the second quarter of 2019 is expected to be within the lower range of the GDP Growth 5.00% 5.10%
Bank Indonesia’s growth projection of about 5.0% YoY. The rupiah was relatively stable
over the second quarter standing at Rp14,171 per 1US$ as of June 2019, slightly Inflation Rate (YTD) 3.26% 3.12%
appreciating by 0.2% QoQ. While inflation for the first 6 months is forecasted at 3.26%
Central Bank Rate 6.00% 4.25%
YoY (compared to 3.12% in the same period last year), the stock market composite
Source: Central Statistic Bureau & Central Bank of Indonesia
index decreased 6.3% during the quarter, closing at 6,315 on June 21st.

Slowdown on Demand
This quarter, net absorption showed a soft demand in industrial estates market. With
take-up of about 11.8 hectares, quarterly demand fell significantly by about 88.21% from MARKET INDICATORS
12-months
Q2 19 Q2 18 Forecast
the previous quarter. The logistic industry recorded to give the highest contribution in
quarterly transactions. Many investors tend to resort to a wait-and-see approach until the Overall Sales Rate 61.9% 62.5%
conclusion of Indonesia’s presidential election. Yearly demand is expected to recover
Net Absorption (Ha) 11.8 34.1
after the final result from the General Election Committee (KPU).

Price Relatively Stagnant Average Price (Rp/sm) 2,560,000 2,655,000

Based on the rupiah exchange rate in the value of USD, only slight changes have
occurred in price. Sale prices decreased by 0.27% QoQ and 3.71% YoY with the
A Cushman & W akefield
average price of Rp2,560,000,- per sqm. Until the end of 2019, the sale prices are
Research Publication
expected to remain stable.
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 GREATER JAKARTA INDUSTRIAL ESTATES
MARKETBEATS JUNE 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 772 525 1.2 4.2 68.01% 2,600,000 162.19 17.0 13.4
Bekasi 5,056 3,734 6.6 62.6 73.86% 2,466,084 153.84 16.2 5.5
Karaw ang & Purw akarta 4,579 2,359 1.0 28.8 51.51% 1,944,415 121.30 12.7 5.5
Serang 3,095 1,452 3.0 79.8 46.91% 1,675,000 104.49 11.0 3.9
Bogor 80 68 0.0 3.5 84.78% 2,000,000 124.76 13.1 2.8
GREATER JAKARTA TOTALS 14,671 9,080 11.8 178.9 61.89% 2,560,000 159.70 16.8 7.1

W/D = Warehouse/Distribution *Secondary Market Price

NET ABSORPTION & LAND PRICE OVERALL SALES RATE

350 3,000,000 76%

300 74%
2,500,000
72%
250
2,000,000
70%
200
1,500,000 68%
150
66% Historical Average = 67.5%
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Research Publication
1,000,000
100
64%
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Net Absorption, Ha Price, Rp psm

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Copyright © 2019 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.