As of the first half of 2024, the average land price of landed residential homes in Jakarta was about 15.9 million Indonesian rupiah per square meter. Jakarta is Indonesia's financial center, and the average land price there is higher compared to other areas. The residential property price in Greater Jakarta also has been steadily increasing in the past decades.
Jakarta residential properties are not affordable for many
Approximately 30 million people live in Greater Jakarta, with the majority live in the urban region surrounding the capital city. The metropolitan area consists of Jakarta and its five satellite cities: Bogor, Depok, Bekasi, Tangerang, and South Tangerang. However, as the number of affordable residential houses and developed areas for landed houses in the capital city is limited, many Indonesians especially the younger generations, tend to buy their houses in the surrounding regions.
Many Jakartans relocated to Tangerang regency
Real estate in the center of Jakarta has been a stable investment and is less likely to drop in value, compared to the outer areas of Jakarta. However, since the 90s, Indonesia’s major real estate developers have been designing planned communities with excellent infrastructure in Tangerang. Since then, there is a growing number of people who have relocated there from Jakarta, leading to a lower residential property sales rate in Jakarta compared to Tangerang.
Average land price of landed residential homes in Greater Jakarta, Indonesia as of the 1st half of 2024, by region
(in million Indonesian rupiah per square meter)
Characteristic
Price in million Indonesian rupiah per square meter
One thousand Indonesian rupiah is equal to 0.064 U.S. dollars and 0.058 euros as of October 2024.
Figures have been rounded.
According to the source the analysis only focuses on actively marketed residential estates within the Greater Jakarta area. Those selected residential estates are considered as “major developments” with minimum development area of 30 hectares. Estates specializing in Healthy Simple Housing (Rumah Sederhana Sehat / RSH) are excluded from the analysis.
The market area coverage includes North Jakarta, Central Jakarta, East Jakarta, West Jakarta, South Jakarta, Bekasi Municipality, Bekasi Regency, Tangerang Municipality, South Tangerang Municipality,Tangerang Regency, Depok Municipality, Bogor Municipality and Bogor Regency.
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Cushman & Wakefield. (July 24, 2024). Average land price of landed residential homes in Greater Jakarta, Indonesia as of the 1st half of 2024, by region (in million Indonesian rupiah per square meter) [Graph]. In Statista. Retrieved December 11, 2024, from https://www.statista.com/statistics/1195152/indonesia-residential-market-average-land-price-greater-jakarta/
Cushman & Wakefield. "Average land price of landed residential homes in Greater Jakarta, Indonesia as of the 1st half of 2024, by region (in million Indonesian rupiah per square meter)." Chart. July 24, 2024. Statista. Accessed December 11, 2024. https://www.statista.com/statistics/1195152/indonesia-residential-market-average-land-price-greater-jakarta/
Cushman & Wakefield. (2024). Average land price of landed residential homes in Greater Jakarta, Indonesia as of the 1st half of 2024, by region (in million Indonesian rupiah per square meter). Statista. Statista Inc.. Accessed: December 11, 2024. https://www.statista.com/statistics/1195152/indonesia-residential-market-average-land-price-greater-jakarta/
Cushman & Wakefield. "Average Land Price of Landed Residential Homes in Greater Jakarta, Indonesia as of The 1st Half of 2024, by Region (in Million Indonesian Rupiah per Square Meter)." Statista, Statista Inc., 24 Jul 2024, https://www.statista.com/statistics/1195152/indonesia-residential-market-average-land-price-greater-jakarta/
Cushman & Wakefield, Average land price of landed residential homes in Greater Jakarta, Indonesia as of the 1st half of 2024, by region (in million Indonesian rupiah per square meter) Statista, https://www.statista.com/statistics/1195152/indonesia-residential-market-average-land-price-greater-jakarta/ (last visited December 11, 2024)
Average land price of landed residential homes in Greater Jakarta, Indonesia as of the 1st half of 2024, by region (in million Indonesian rupiah per square meter) [Graph], Cushman & Wakefield, July 24, 2024. [Online]. Available: https://www.statista.com/statistics/1195152/indonesia-residential-market-average-land-price-greater-jakarta/