Apartment sales in Jakarta have slowed significantly, prompting developers to cut prices to move unsold units. Jakarta apartment prices have dropped sharply, with developers offering steep discounts and adopting creative sales strategies to attract buyers. According to JLL Indonesia, sales figures are at their lowest in over a decade, with no new project launches in the second quarter of 2025.
Jakarta Apartment Prices Hit Record Discounts
Recent market data shows developers slashing Jakarta apartment prices by as much as 20 to 30 percent for block sales. These discounts aim to clear old inventory in a sluggish market. “The discount varies depending on the portfolio, the developer, and the financial situation. It can reach 20–30 percent below the retail price,” said JLL Indonesia’s Senior Director of Capital Markets, Herully Suherman.
Comparing today’s market to its peak highlights the dramatic shift. In 2013 and 2014, annual sales reached up to 20,000 units. In 2020, that number plunged to about 1,000 units. Now, developers are even willing to sell below market value to keep cash flow moving, a move known as cut loss.
Sluggish Jakarta Property Sales Since 2015
Jakarta property sales peaked between 2012 and 2014 before entering a downward trend in 2015. The pandemic in 2020 dealt another severe blow to the market. “Now, sales are roughly only around one thousand units per year, whereas in 2013–2014 it could reach 20,000 units annually. That’s where we see the breaking point,” said JLL Indonesia’s Head of Research, Yunus Karim.
In the first half of 2025, total new unit sales reached just 78. Yunus explained that most buyers today are end-users, while investors, who once dominated, are now taking a wait-and-see approach. This lack of investor activity has further slowed market momentum.
Developers Turn to Bulk Sales to Clear Inventory
To deal with stagnant sales, developers are increasingly turning to bulk apartment sales, also known as on-block sales. In this approach, entire apartment buildings are sold to large investors at substantial discounts. “We look for investors who might buy an entire apartment building, which could later be converted, for example, into serviced apartments, hotels, or most often serviced apartments,” Herully explained.
These conversions can provide faster returns on investment. By repurposing properties, investors can tap into other real estate sectors, such as hospitality, that may offer more stable demand.
Alternative Strategies: Rent-to-Own and Cut Loss Sales
Besides bulk sales, developers are using rent-to-own programs to attract hesitant buyers. This strategy allows occupants to pay in installments while living in the unit. At the end of the agreed period, they gain full ownership. “This program allows buyers to live in the unit while paying in installments, and at the end of the period, the unit officially becomes theirs,” said JLL Indonesia’s Head of Growth and Strategic Consulting, Vivin Harsanto.
For some developers, selling at a loss is preferable to holding unsold units for years. Vivin noted, “Rather than letting units remain unsold for years, it’s better to release them at below-market prices, as long as cash flow keeps moving.”
Outlook for Jakarta’s Real Estate Market
While the short-term outlook remains challenging, there is potential for recovery. Lower prices may attract opportunistic investors, especially if economic conditions stabilize and infrastructure projects advance. The combination of price cuts and creative sales strategies could gradually rebuild market momentum.
Jakarta’s apartment market is facing one of its toughest periods in decades, but lower prices and innovative sales approaches may turn the tide. For investors watching the Jakarta property market, today’s conditions present rare opportunities to secure assets at discounted rates with long-term potential.
Source: medcom.id, kumparan.com
Image: Christian Hartono Tanu / Getty Images
