On November 30, 2024, the status of the Special Capital Region of Jakarta was changed to the Jakarta Special Region. The construction of Indonesia's new capital, IKN, is underway. President Prabowo plans to start working at IKN on August 17, 2028, and civil servants will be relocated to IKN in April. After Jakarta ceases to be the capital, its future has raised many questions. Research by Colliers Indonesia shows that populations in other cities that have lost their capital status are still growing, and Jakarta is expected to become more livable. With reduced traffic congestion, real estate values may rise, and old government buildings can be converted into residences or hotels. Although Jakarta's housing price growth has stagnated, it remains the primary choice for homebuyers due to its abundant supply and convenient transportation. Young people aged 25-34 and productive adults aged 45-54 are the main homebuyer groups. The diverse supply of second-hand homes can meet the needs of different segments.
On November 30, 2024, the status of the Special Capital Region of Jakarta was changed to the Jakarta Special Region. The construction of Indonesia's new capital, IKN, is underway. President Prabowo plans to start working at IKN on August 17, 2028, and civil servants will be relocated to IKN in April. After Jakarta ceases to be the capital, its future has raised many questions. Research by Colliers Indonesia shows that populations in other cities that have lost their capital status are still growing, and Jakarta is expected to become more livable. With reduced traffic congestion, real estate values may rise, and old government buildings can be converted into residences or hotels. Although Jakarta's housing price growth has stagnated, it remains the primary choice for homebuyers due to its abundant supply and convenient transportation. Young people aged 25-34 and productive adults aged 45-54 are the main homebuyer groups. The diverse supply of second-hand homes can meet the needs of different segments.