GREATER CONDOMINIUMDECEMBER 2018 MARKETBEATS

4.55% 49.9% 32,522 UNITS PRICE GROWTH VACANCY RATE NEW COMPLETION (YoY) (Q4 2018) (YTD)

ECONOMIC INDICATORS 12-months HIGHLIGHTS Q4 18 Q4 17 Forecast GDP Growth 5.10% 5.17%

Economy remains stable Inflation Rate (YTD) 3.23% 3.61% Gross Domestic Product (GDP) is expected to reach 5.1% for full year 2018. The Central Bank Rate 6.00% 4.25% Rupiah experienced a slight appreciation of 3.0% QoQ to Rp.14,372 per US$ 1.00, Source: Central Statistic Bureau & Central Bank of whilst YoY inflation reached 3.23%, slightly lower than the 3.61% rate in 2017. The stock market saw an increase of 1.88% during the last quarter of 2018, with the AVERAGE PRICE/SQ.M & GROWTH RATE composite index closing at 6,089 on December 17. 50,000,000 10.0% 40,000,000 8.0%

Project completion pushed back to 2019 30,000,000 6.0%

Sixteen projects were completed during the last quarter of 2018, bringing 8,014 units of 20,000,000 4.0% Growth Rate Growth

new supply, an increase of 3.1% in the total existing supply from the previous quarter. 10,000,000 2.0% Hard CashPrice Hard(psm) However, the number of newly launched and under construction projects declined by 0 0.0%

1.4% and 1.8% since the third quarter of 2018, as developers deferred project launches

Q214 Q314 Q414 Q115 Q215 Q315 Q415 Q116 Q216 Q316 Q416 Q117 Q217 Q317 Q417 Q118 Q218 Q318 Q418 to 2019. Demand for projects under construction continued to decline, by 1.9% year-on- Price (psm) year to 55.8%. Likewise, the vacancy rate increased and was recorded at 49.9% during ANNUAL SUPPLY PIPELINE the reviewed quarter. 140,000.00 A Cushman & Wakefield 120,000.00 Research Publication Price movement to remain modest 100,000.00 80,000.00

The price of existing and proposed condominiums remained relatively stable, with the (Units) 60,000.00 DATA average price of CBD units standing at Rp51,800,000 or US$3,602 (slight growth of 40,000.00 INTO Supply NetProposed 20,000.00 ACTION 0.2% since last quarter) and Primary located units at Rp45,700,000 or US$3,178 (1.1% - higher than the last quarter’s figure). 2019 2020 2021 2022 The chart above shows the number of proposed units to be completed annually in its respective year. www.cushmanwakefield.com GREATER JAKARTA CONDOMINIUM MARKETBEATS DECEMBER 2018

Arief Rahardjo AVERAGE PRICE/SQ.M & GROWTH RATE EXISTING SALES PROPOSED PRE-SALES SUBMARKET SUPPLY (UNITS) RATE (%) SUPPLY (UNITS) RATE (%) Director, Consulting, Indonesia 450,000 100.0% CBD 27,156 98.7% 4,994 63.3% 90.0% Building 2, 15/F 400,000 Prime 14,315 96.0% 1,722 37.3% Jl. Jendral Sudirman Kav.52-53, 350,000 80.0% JAKARTA | 12190 Secondary 222,943 93.6% 218,585 55.7% 70.0% Tel: +62 2550 9500 300,000 SEGMENTATION [email protected] 60.0% 250,000 Lower-Middle 60,638 88.4% 105,642 58.6% 50.0% 200,000 Middle 136,979 96.4% 80,937 49.4%

40.0% Percentage Supply(Units) 150,000 Upper-Middle 42,024 95.8% 27,212 60.6% 30.0% Upper 24,773 94.5% 10,519 59.3% 100,000 20.0% DEFINITIONS: 50,000 10.0% CBD area includes the most prominent business corridors such as, Sudirman, Kuningan, Thamrin, Gatot Subroto, and Satrio. 0 0.0% Prime residential area includes Kebayoran Baru, Senayan, , Pondok Indah, Permata Hijau, and Kemang, mostly

representing areas that are favoured by high-income families and expatriates.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019(P) Existing Supply Proposed Supply Sales Rate NEWLY COMPLETED PROJECTS Q4 2018 Pre-Sales Rate Vacancy Rate APPROX PROPERTY DISTRICT SEGMENT Total units are approximate numbers and may change over the construction period. UNITS Based on sales price, the Jakarta Condominium market is further classified into 4 (four) price segments (prices are estimated average hard-cash price term, before tax, on semi gross area): Menteng Park (Tower Emerald) Central Upper 479 - Upper : > Rp.35mio per sm - Upper-middle : Rp.25mio per sm to 35mio per sm Pejaten Park Residence (Tower 1) South Middle 260 - Middle : Rp.14mio per sm to 25mio per sm - Lower-Middle : < Rp.14 million per sm Green Lake View Depok (Tower Alamanda) Depok Lower-Middle 858 NEWLY LAUNCHED PROJECTS Q4 2018 The SpringLake View (Tower Elodea) Bekasi Middle 856 APPROX The SpringLake View (Tower Freesia) Bekasi Middle 743 PROPERTY DISTRICT SEGMENT UNITS Grand Kamala Lagoon Bekasi Middle 2021 DATA The Newton 2 (Ciputra World 2) South Upper 624 (Tower Barclay North & South) INTO The Parc (Summer Tower) @ South City Tangerang Lower-Middle 395 ACTION Anandamaya Residences (Tower 2) Central Upper 198 Rainbow Springs CondoVillas – Tangerang Middle 80 Anandamaya Residences (Tower 3) Central Upper 198 Green (Tower12,15,16,17) Pollux Sky Suites South Upper 194 Anandamaya One Central Upper 114 Pakubuwono Spring South Upper 545 A Cushman & Wakefield Apartment New Harco Glodok West Middle 144 Research Publication Opus Park (Tower Pinnacle) Bogor Middle 361 Condominium Marigold Nava Park (Tower 2) Tangerang Upper-Middle 109 The Burj Millenia Tangerang Upper-Middle 540 Branz BSD (North Tower) Tangerang Upper-Middle 470 Cushman & Wakefield (NYSE: CWK) is a leading global real estate Sky House Alam Sutera Branz BSD (East Tower) Tangerang Upper-Middle 326 services firm that delivers exceptional value by putting ideas into Tangerang Upper-Middle 1855 (Tower Acacia & Castilla) action for real estate occupiers and owners. Cushman & Wakefield is Branz BSD (West Tower) Tangerang Upper-Middle 456 among the largest real estate services firms with 48,000 employees in Prasada Mahata Serpong approximately 400 offices and 70 countries. In 2017, the firm had Tangerang Middle 740 revenue of $6.9 billion across core services of property, facilities and (Tower Cattleya) Branz Simatupang (South Tower) South Upper 190 project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow Tamansari Skyhive East Upper-Middle 571 Branz Simatupang (North Tower) South Upper 191 @CushWake on Twitter. www.cushmanwakefield.com

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