(TheIndoDaily) –Jakarta’s property market remained resilient in Q2 2026 driven by steady economic growth and rising occupier confidence. Fundamentals strengthened across the office, industrial/logistics, and retail sectors, with transit-oriented developments (TODs) emerging as key catalysts for future value creation, CBRE Indonesia said.
Anton Sitorus, Head of Research & Consulting, said in a media briefing on Wednesday the market performance continues to be supported by fundamental demand rather than speculative activity.
“Property occupiers today are becoming increasingly selective, prioritizing quality, accessibility, operational efficiency, and long-term value. Across various sectors, tenants and occupiers remain active, and we are seeing growing interest in developments that combine quality real estate with strong transportation connectivity, particularly around major transit hubs,” Anton said.
In the office sector, Judy Sinurat and Albert Dwiyanto, Co-Heads of Office Services, reported continued leasing momentum across both CBD and Non-CBD markets. In the Jakarta CBD, net take-up reached approximately 16,800 sq m during the second quarter, while occupancy improved to 76.3%.
Demand continued to be driven by flight-to-quality trends as occupiers increasingly sought Premium Grade and Grade A buildings offering modern specifications, sustainability features, and better amenities. Limited new supply also contributed to improving market conditions and rental growth prospects.
These market trends reflect a broader shift in how companies evaluate office locations. While a prestigious address remains important, connectivity and accessibility are becoming equally critical considerations in corporate real estate decisions.
“The next CBD will no longer be defined solely by its address. It will be defined by its connectivity. In today’s market, the ability to connect people, businesses, and opportunities is becoming one of the strongest drivers of long-term business competitiveness,” Albert said.
Meanwhile, Jakarta’s Non-CBD market recorded net take-up of approximately 12,900 sq m, lifting occupancy to 73.3%. Demand remained concentrated in higher-quality buildings and locations with improving accessibility. Tenant relocations and workplace optimization strategies continued to support market activity.
Media Briefing – Researchers of CBRE brief reporters on property market outlook. (From left to right: Anton Sitorus, Head of Research & Consulting, Ivana Susilo, Head of Capital Markets and Industrial Services, Judy Sinurat, Co-Heads of Office Services and Albert Dwiyanto, Co-Heads of Office Services.)
Macro Economy Remains Steady
The resilient property market appears to be supported by steady macro-economic condition. In the first quarter of 2026, Indonesia’s economy expanded 5.61% year-on-year (YoY), indicating continued resilience despite global uncertainty and volatility in commodity and financial markets.
In June 2026, inflation reached 3.34% YoY, up from 3.08% in May. Bank Indonesia increased the BI Rate to 5.75% in June 2026 to support rupiah stability and anchor inflation expectations. However, at its BI Board Meeting on July 21-22, 2026, it kept the BI Rate of 5.75% unchanged.
However, manufacturing PMI fell to 46.9 in June 2026, entering contraction territory and marking the weakest reading in one year.
As for external trade, Indonesia recorded a US$1.61 billion trade deficit in May 2026, ending a long period of trade surpluses.
Industrial & Logistics Market
The industrial and logistics market remained one of the strongest-performing sectors, according to Ivana Susilo, Head of Capital Markets and Industrial Services. Industrial land absorption totaled approximately 62 hectares during the quarter, pushing occupancy within Greater Jakarta industrial estates to 91.2%.
Data center operators continued to play an increasingly significant role in land demand, particularly in Cikarang, where competition for sites with robust utility infrastructure has contributed to rising land values.
In the logistics sector, occupancy reached 97.4%, reflecting sustained demand from e-commerce, manufacturing, cold-chain, and third-party logistics operators. New supply remained limited, helping maintain healthy market fundamentals and supporting rental growth across key logistics corridors.
On the retail front, Jakarta’s shopping mall market recorded another quarter of positive performance. Mall occupancy rose to 86.4%, supported by net take-up exceeding 20,000 sq m. High-end malls continued to outperform, maintaining occupancy above 95%, while upper and middle-up malls also posted healthy leasing activity. International retailers, premium dining concepts, lifestyle brands, and entertainment operators remained active contributors to demand.
Transit-oriented Development
As for transit-oriented development, Anton Sitorus noted that transit-oriented developments are increasingly shaping Jakarta’s real estate landscape.
“The next phase of Jakarta’s property growth will be closely linked to connectivity. As the city expands its mass transit network, TODs are moving beyond transportation infrastructure and becoming platforms for mixed-use urban development and long-term value creation,” he said.
Major projects including MRT Phase 2A and the recently-launched Dukuh Atas transport hub, are expected to strengthen accessibility while creating new opportunities for office, residential, retail, and mixed-use developments. Improved mobility is increasingly influencing occupier location decisions and investment strategies across the city.
Concluding the briefing, Anton emphasized that Jakarta’s property market remains well-positioned despite a challenging economy and global environment.
“The market’s performance reflects improving fundamentals and evolving occupier priorities. Connectivity, quality, and operational efficiency are becoming key drivers of value creation. While growth may remain measured, the foundations for long- term sustainable expansion continue to strengthen across Jakarta’s property sectors,” he concluded.
Roffie Kurniawan