Jakarta: World's Fastest-Growing Office Rents
TEMPO.CO, Jakarta - Research by commercial real estate services firm Cushman & Wakefield has placed Jakarta as the city with the fastest growth in office rental prices in the world. According to the Managing Director of Research for Cushman & Wakefield Asia Pacific, Sigrid Zialcita, the growth in office rental prices in Jakarta was as high as 30 percent in 2013.
“It’s been the highest in the world for two consecutive years with prices even more than twice as much as 2011,” he said in a written statement, Thursday, December 1, 2013.
The price increase and demand for office space in Jakarta are far higher than other Asian cities, which only grow by one digit on average. The price increase in Jakarta may be on par with London, Stockholm and Frankfurt, which also grow by two digits. New constructions and improvements in the property sector have accelerated rental prices.
Head of Research & Advisory of Cushman & Wakefield Indonesia, Arief Rahardjo, said the price increase in Jakarta was driven by high demand and low supply. He expects office space in Jakarta to continue to grow by approximately 15 percent in 2014. Only in 2015 will the increase slow down to 20-25 percent, helped by numerous new properties.
The price increase and demand for office space in Jakarta are far higher than other Asian cities, which only grow by one digit on average. The price increase in Jakarta may be on par with London, Stockholm and Frankfurt, which also grow by two digits. New constructions and improvements in the property sector have accelerated rental prices.
Head of Research & Advisory of Cushman & Wakefield Indonesia, Arief Rahardjo, said the price increase in Jakarta was driven by high demand and low supply. He expects office space in Jakarta to continue to grow by approximately 15 percent in 2014. Only in 2015 will the increase slow down to 20-25 percent, helped by numerous new properties.
PINGIT ARIA
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