Future Development and Housing Market Outlook of Jakarta SAR

On November 30, 2024, the status of Jakarta Capital Special Zone was changed to Jakarta Special Zone, the construction of Indonesia's new capital, IKN, is underway, President Prabowo plans to start his office in IKN on August 17, 2028, and national civil servants were transferred to IKN in April.Jakarta's future raises many questions after it ceases to be the capital. Research by Colliers Indonesia shows that the population of other cities that have given up their capital status is still growing, and Jakarta is expected to be more livable. Real estate values may rise as traffic congestion decreases and old government buildings can be converted into homes or hotels. Despite the stagnation of house price growth, Jakarta remains a major choice for home buyers due to its availability and accessibility. young people aged 25-34 and productive adults aged 45-54 are the main home buyers, and there is a diverse supply of second-hand homes to meet the needs of different segments of the population.