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Jakarta Post

Prices of office buildings to remain stagnant until next year: Observers

  • News Desk

    The Jakarta Post

PREMIUM
Jakarta   /   Sun, July 14, 2019   /  01:30 pm
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Prices for strata-title office buildings in Jakarta fell by 8 percent year-on-year (yoy) in the second quarter of this year due to sluggish demand.(Tempo.co/Tony Hartawan )

  Prices for strata-title office buildings in Jakarta are expected to remain stagnant until next year as demand is expected to stay flat amid sluggish growth of new investments in the country, according to a property consultant. “The average office price tends to be flat or moderate, at least until the end of 2020, even though the supply is limited,” Eko Arfianto, Indonesia senior research manager of leading global real estate services and investment management company Colliers International, told The Jakarta Post on Wednesday. Prices for strata-title office buildings in Jakarta fell by 8 percent year-on-year (yoy) in the second quarter of this year due to sluggish demand, he said, adding that since January, sales have totaled 15,000 square meters. The sluggish growth is partly due to weak growth in new investments. According to the Investment Coordinating Bo...