Apartments for sale in Jakarta
Not only Indonesian citizens but also citizens of other countries can buy flats in Jakarta. Foreigners who buy property in Indonesia receive permission for long-term use of the object without the right of ownership. The average term of use ranges from 25 to 45 years and can be extended several times for an additional fee. A property purchased for long-term possession can be sold, leased, or inherited for a period of time specified in the contract.
In Jakarta, foreign residents are allowed to buy apartments worth at least $197,000. It is worth noting that even locals are not allowed to buy apartments or villas in Indonesia for private ownership. A citizen of the country can only get ownership of land plots and houses in the country.
Jakarta is a large metropolis that is divided into 5 major administrative districts: Central, South, North, West, and East. Foreigners wishing to buy apartments in Jakarta for investment and living most often give preference to the units in the central district. Large business complexes, restaurants, clubs, malls, concert venues, and other infrastructural facilities are concentrated here. In addition, many residents of the district speak English, which makes it easier for foreigners who do not speak Indonesian to adapt.
Housing in the city centre is represented by high-rise buildings with contemporary apartments and studios. Jakarta has a fairly high standard of living, with prices for services, food, and non-food items lower than in most developed cities around the world. Foreigners who earn their income in dollars find it favourable to live here.
Apartments prices in Jakarta
The cost of flats in Jakarta depends on such parameters as:
- Location (further or closer to the city centre);
- Total area;
- The year the building was constructed;
- Quality of finishing;
- Availability of furniture and appliances;
- Availability of additional amenities in the building.
In the major business districts of the city, you can find profitable and liquid apartment options. For example, in the business block of the Western district of the city, an apartment of 165 m² with three bedrooms is sold at a price of $392,500. This is a luxury property with modern finishes, marble flooring, a fitted kitchen, sanitary ware, air conditioning, and panoramic glazing.
An apartment of 158 m² with three bedrooms in the centre of the Western District can be bought for $235,500. The flat is located in a residential complex with a fitness centre, swimming pool, 24-hour security system, and underground parking. The layout of the residence includes 2 bathrooms and a maid’s room. The flat also has panoramic windows and ceramic tiles on the floor.
At a price of $505,000, you can buy a two-level duplex of 305 m² with four bedrooms. It is also located in West Jakarta.
The average price per square metre for the above properties ranges from $1,500 to $1,650 per square metre.
The highest price of flats for sale in Jakarta will be in the central area of the city, where there are elite neighbourhoods with quality housing. One of such districts is Menteng. In local premium residential complexes, the cost of a square metre of housing can reach $2,300.
Investment apartments in Jakarta
Buying an apartment in Jakarta is one of the most lucrative areas for investments. The Indonesian economy has been growing steadily for several years in a row. The country has an expanding population, a growing percentage of middle-class people, and an increased demand for housing.
Jakarta is home to ports, industrial plants, and offices of large companies, which encourages people to move here from smaller provinces where there are fewer career opportunities. The city is also of interest to businessmen, including foreigners, who are involved in the textile industry and maritime transport.
Today, major infrastructure projects are being actively developed in the capital of Indonesia, with railways and motorways being built, which in turn leads to an enhanced demand for real estate located further away from the city centre.
The growth of the population leads to an increase in the cost of apartments in Jakarta. As a result, buyers have the opportunity to get good returns from investing in rental apartments in Indonesia or in projects under construction. Experts predict that the Indonesian property market will grow by an average of 10% annually for the next 5 years.
Although foreigners are not allowed to own flats in Jakarta, it is possible to become an investor and make a profit in the local market. Many developments under construction are increasing in price by 30–60%, and there are no obstacles to selling the purchased flat immediately after its commissioning with a good profit. One should not forget about interest-free instalments. Most local developers offer convenient payment plans, where the buyer makes 30% as a down payment and the rest of the amount is paid in instalments as construction progresses. The purchased property can then be rented out to generate an annual passive income.
Buying apartments in Jakarta
Jakarta is a relatively new destination for investors from other countries. Now, the local housing market is at a stage of active development. Apartment prices have not reached their maximum values, and they continue to grow gradually.
A large Indonesian city will be a good place to buy investment housing or a flat for permanent residence. Today, new residential complexes are being built, and investors and expats can easily buy an apartment in Jakarta according to their goals.
Our website contains up-to-date offers for flats for sale from developers, agents, and private individuals. You can choose from newly built accommodations, an under construction property from a developer, or a ready-to-move-in flat on the secondary market.
A convenient search system allows you to quickly select interesting options for future purchase by price, location, total area, number of bedrooms, and other parameters. To better orientate yourself in the local market, you can choose prices in different currencies. Each unit has a detailed description, photos, and the seller’s contacts.