Research & Forecast Report 4Q 2013 Jakarta1st Quarter | Office 2014 Jakarta Property Market Report Accelerating success. Contents Office Sector 4 Apartment Sector 14 Retail Sector 24 Industrial Estate Sector 33 2 Research & Forecast Report | 1Q 2014 | Contents | Colliers International Highlights Office Sector After a gloomy 4Q 2013, leasing and sales of office space began to pick up momentum in 1Q 2014. Further, average asking base rental rates in the CBD showed a growth of 8.6% that brought the average rent to IDR247,444 / sq m / month. Similarly, asking By Ferry Salanto base rents in US dollar-denominated buildings moved upward slightly by 3.7% q-o-q to USD35.91 / sq m/ month. The average Associate Director | Research occupancy rate in the CBD stabilized at 96.5%. In terms of strata-
[email protected] title office buildings, average asking prices also increased both in US dollars and in rupiah to USD4,750 / sq m and IDR45.9 million / sq m respectively. Apartment Sector The strong sales performance of under-construction apartment projects continued to trigger increases in the average asking price to IDR24.4 million / sq m or a 2.5% increase q-o-q. The CBD fetched the highest average price at IDR 38.3 million / sq m, an increase of 5.8% q-o-q while the average price in South Jakarta was registered at IDR 26.7 million / sq m, which grew by 3.2% from the last quarter. Not only price, but the average gross rental rate of apartments for lease located in the CBD and South Jakarta also trended upward by 3.4% compared to the previous quarter in anticipation of the increase in the operational costs and was recorded at USD26.56 / sq m/month.