A report from international analyst firm Cushman & Wakefield this week maintained that the prospects for landlords are positive and that they have been increasing the asking prices on their Jakarta offices.
See examples of office spaces for rent in Jakarta here
Indeed, demand for office space in the Indonesian capital has been rising so strongly in recent months that base prices increased by between five and ten per cent in many cases during the final quarter of 2010.
The central business district is where much of the city’s office market activity is taking place, with finance and insurance sector operators among those reportedly looking to expand their office presence or move to another site nearby.
Reflecting on the report, Artadinata Djangkar, from the development firm Ciputra Property, told the Jakarta Globe: “Demand will continue growing. I see existing tenants moving to new buildings as they expand their business.”
Some concerns have been raised over the issue of rising inflation in Jakarta but these fears are being offset at present by an Indonesian economy growing at close to six per cent year on year.
According to Cushman & Wakefield’s report, the lion’s share of the new office occupancy deals in Jakarta in Q4 2010 related to newly constructed properties like Bakrie Tower and the UOB Plaza.
The same commercial property agency has been opening up offices of its own in various parts of the world this month, with new sites in Rotterdam and Bahrain having opened for business in recent days.
Editor’s notes: In the first quarter of 2023, it was noted that traffic congestion continued to worsen in Jakarta, making the commute to the office for employees difficult. For this reason, offices close to public transport links performed well.
Despite this, the CBD remained the most popular location for tenants. In recent years, landlords and developers had focused on occupancy levels, so rental rates had remained stable as tenants had been incentivised to sign leases at lower rates.
As the economy improves, and due to a relatively small longer-term development pipeline, it was expected that headline rents, particularly for superior office space, would increase by 4 – 5 per cent between 2023 and 2025.
Prime office rents in Jakarta were IDR210,395 in Q1 2023, and expected to grow to IDR211,141 by the end of 2023 and to IDR248,870 by the end of 2025.
In January 2022, it was confirmed that Indonesia would move its capital city from Jakarta to Nusantara on the island of Borneo to take pressure off Jakarta’s infrastructure and because the city was sinking due to over-extraction of groundwater.
The move was expected to cost an estimated 466 trillion Indonesian Rupiah ($32.4 billion or £23.8 billion).
As of June 2026, Jakarta was the world’s largest city and remained polluted, overcrowded and sinking. For that reason, the plan to move the Indonesian capital to Nusantara remained in place. However, there were growing concerns about how long the project was taking, as seen in this NPR article published in April 2026.
In the first quarter of 2026, there was 18,700 square metres of net absorption, and the vacancy rate stood at 32,8 per cent at quarter-end.
Premium-grade office rent stood at IDR 258,000 per square metre per annum, having grown by 3.9 per cent over the previous 12 months.