Max Stobbs’ Post

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Manager, Office Leasing Advisory

In 2023 the Jakarta Office Leasing Market achieved positive absorption for the first time since 2020 and the absence of new office supply in the CBD until 2027 has brought us to forecast the stabilization of vacancy rates at 30%. Landlords with buildings that boast higher occupancy levels are displaying increased confidence in their rental expectations however landlords are still competing for new business allowing attractive rental prices in alternative buildings to still be achievable. Consequently, the market remains advantageous for tenants and offers opportunities for cost savings through relocation, significant upgrade in building quality and more cost-effective lease renewals. Have a read of our Q4 Jakarta Property Market Review and get in touch with me to discuss your 2024 Jakarta Real Estate Strategy.

Jakarta Property Market Review 4Q 2023

Jakarta Property Market Review 4Q 2023

jll.co.id

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