Developers Confidence Sparks New Apartment Project Construction

Current market tendencies reveal a preference among consumers for purchasing ready-to-move-in apartments over those still under construction.

Yanita Petriella

12 Apr 2024 - 17.08
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Developers Confidence Sparks New Apartment Project Construction

Ilustration Apartment

Bisnis, JAKARTA – In the Q1 2024, developers are expressing confidence by initiating the launch of new apartment projects for the year. The current total number of apartments in Jakarta alone stands at 226.815 units.

When viewed on a quarterly basis, there is a modest increase of 0,37%, while the growth reaches 1,34% year-on-year (YoY). Colliers Indonesia projects the construction of an additional 9.317 apartment units by 2026. Of these, 4.516 units are slated for completion in the remaining quarter of 2024, followed by 3.956 units in 2025, and 845 units in 2026.

Head of Research at Colliers Indonesia Ferry Salanto expressed that the apartment property sector did not meet expectations based on data from the Q1 of this year, spanning January to March.

In terms of absorption, data from 2016 to 2024 indicates that last year's absorption remained relatively consistent. The absorption figure in 2023 mirrored that of the pandemic period, hovering around 1.300 units per year.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Yanita Petriella
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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.