Jakarta Aparthotel Occupancy Rate Reaches 58.2% in Q1 2022

Real estate services company Colliers International reported that the average occupancy rate of serviced apartments in Jakarta reached 58.2% in Q1 2022.

Serviced apartments are fully furnished apartments that provide hotel-like services such as room service, housekeeping, laundry, wireless internet connection, and the like.

These apartments are rented out for both short and long terms. Therefore, they are often also called aparthotels, a combination of apartment and hotel.

The occupancy rate of serviced apartments or aparthotels in Jakarta in Q1 2022 slightly decreased compared to the previous quarter, as shown in the graph.

However, compared year-on-year, the occupancy rate in Q1 2022 was higher than Q1 2021, which stood at 56.4%.

“We are optimistic that the (serviced) apartment market can recover in 2022 in line with the improving pandemic situation, but it will still take longer than expected to return to pre-pandemic levels,” said Colliers International in its report released on Wednesday (6/4/2022).

Colliers International predicts there will be 11 new aparthotel projects in Jakarta, adding a supply of 1,862 units.

Colliers International mentioned that during the January-March 2022 period, there was one new project on Jl. Gatot Subroto, Jakarta's central business district, namely The Okura Residences Jakarta, which is expected to start operating in 2025.

(Also Read: [10 Countries with the Most Expensive Apartment Rental Prices in the World](https://databoks.katadata.co.id/datapublish/2021/11/02/10-negara-ini-punya-harga-sewa-apartemen-termahal-di-dunia))