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Property Exuberance Is Reborn in Indonesia

The Wall Street Journal
Property Exuberance Is Reborn in Indonesia - Indonesia - property market

JAKARTA–Fifteen years after the Asian financial crisis sent overheated Indonesian property markets tumbling, the archipelago nation’s real-estate markets are soaring again–just as economic storm clouds gather across the world.

By some measures, Jakarta is among the hottest property markets in Asia. Asking prices for condominiums in central Jakarta have shot up nearly 12% since the second half of 2011, according to Knight Frank, a property consultancy, and more than 50% since late 2008. The city’s office market, meanwhile, is one of world’s tightest, with “grade A” buildings reporting occupancy levels of 98.1%, compared to 92% in Singapore and 85% in Kuala Lumpur, according to property firm Jones Lang LaSalle .


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