How Many Apartment Units Are Available in and Around Jakarta?

The estimated supply of apartments in and around Jakarta in 2017 reached 28,000 units, a 45.4 percent surge from the previous year's 19,000 units. Despite a slight slowdown due to the domestic economic downturn, the supply of apartments from developers remained quite high this year. However, in 2018, the apartment supply is projected to fall by approximately 13.3 percent to 24,000 units.

Meanwhile, the total number of apartments in and around Jakarta in 2017 is expected to increase by about 16 percent to approximately 204,000 units from 176,000 units the previous year, and in 2018, a further 12 percent increase to 228,000 units is anticipated.

Previously, the government planned to impose high taxes on unoccupied or unrented apartments. This measure aimed to increase occupancy rates in high-rise buildings, as many apartments currently remain unused or unrented. However, the implementation of this tax on vacant apartments has been postponed due to the added burden it would place on developers with many unsold units. Furthermore, the timing was deemed inappropriate given the current sluggish property market.