Top Real Estate Agencies in Indonesia: The Definitive Guide

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Indonesia is the most populous and the richest country in Southeast Asia. The country is predicted to become an economic powerhouse in the future and has a rapidly growing middle class.

However, regulations are still not favorable to foreigners, but the government won’t have any other options than to change these, if Indonesia is to compete with other countries in the region. Once it does, the property market is expected to boom. Many foreigners, especially the Chinese, have understood this and decided to enter the market in an early stage.

You can find many international but also local real estate agencies in the country, especially in the capital Jakarta. But it’s not easy to find summarized information about the companies. Therefore I’ve written this article where I list some of the biggest and most popular real estate agencies in Indonesia. Let’s have a look.

Introductory remark

The real estate agencies are listed in a random order.

1. JLL Indonesia

JLL, also known as Jones Lang LaSalle, is a leading global brand and Fortune 500 company based in the United States. The company has a presence in 80 countries and currently employs around 80,000 people in 300 offices across the globe. It’s also one of the largest real estate agencies in Asia with 32,000 employees and 83 offices in 16 countries.

JLL is ranked as the second largest real estate agency in the world after CBRE Group, in terms of annual revenue. The head office of JLL Indonesia is situated in Jakarta and with two additional offices in Bali and Surabaya.

So who’s heading JLL Indonesia?

Todd Lauchlan is the country manager, he has two decades of experience in investment sales, office leasing, and managing corporate clients. Before joining JLL Indonesia, he worked as Head of Sales & Marketing for The Lagoons in Dubai.

JLL has won a number of awards in Asia Pacific over the years, for example:

a. Best International Property Consultancy by the International Property Awards 2015

b. Best Property Consultancy Asia Pacific by the International Property Awards 2015

c. Best Real Estate Advisor in Asia by Euromoney 2015

Property types and areas

Include residential properties, offices, retail, industrial and hotels.

Some of the properties currently listed on their website include

  • Menara Astra, Jakarta
  • Capital Place, Jakarta
  • World Trade Center 3, Jakarta

They mostly sell properties in Jakarta, but also in Bali and Surabaya.

Services offered

JLL Indonesia offers a wide range of services like valuation, facilities management, sales & leasing, project development, investments, tenant representation, property & asset management, and research.

Office address

PT JLL, Indonesia Stock Exchange Building Tower 2, 19th Floor, Jl. Jenderal Sudirman Kav. 52-53, Jakarta 12190

2. PT Knight Frank Indonesia

Knight Frank is a well-known international brand based in London, UK. They currently have more than 15,000 employees working in 418 offices in 60 countries, including Indonesia. The Indonesian branch is known as PT Knight Frank Indonesia, as it works in collaboration with PT. Willson Properti Advisindo.

The head office of the Knight Frank in Indonesia is based in Jakarta.

Property types and areas

PT Knight Frank Indonesia offers real estate services related to both residential and commercial properties. They also sell properties from all over Indonesia.

Services offered

PT Knight Frank Indonesia offers a wide range of real estate consultancy services that include residential and commercial property sale, lease, industrial sale and rental, project marketing, commercial property valuation service, property management, and consultancy.

Office address

PT. Willson Properti Advisindo, Wisma Nugra Santana # 17-03, Jl. Jend. Sudirman Kav. 7-8, Jakarta, 10220, Indonesia

3. Colliers International Indonesia

Colliers International is a well-established global real estate agency based in Seattle, Washington, United States. They currently have 15,000 employees working in 400 offices in 68 countries including Indonesia. The annual revenue of the company is around USD 2.6 billion.

Colliers International became a global name in 1976 when three large real estate agencies merged together. In 1998, Colliers International Indonesia was established in Jakarta in collaboration with PT Penilai, a local real estate agency offering services since 1975.

They have around 360 employees working in Indonesia, making them one of the largest international real estate agencies in the country. Michael Broomell is working as the managing director since 2004.

Colliers Indonesia won several awards in the last few years that include:

a. Overall Advisors and Consultants and two more wards by Euromoney 2017

b. Facilities Management Company of the Year by Frost & Sullivan for 2014, 2015, and 2016

c. Five-Star Property Consultancy Award by International Property Awards Asia Pacific 2013

Property types and areas

Colliers Indonesia sells and leases industrial, commercial, residential, and retail properties.

Most of their listed properties are from Jakarta. Some of their currently listed properties include:

  • The Manhattan Square, Jakarta
  • Palma Tower, Jakarta
  • Menara Mandiri 2 Jakarta

Services offered

The services offered by Colliers International include lease and sale of real estate, property management, property development, research, consultancy, facilities management, project management, and expatriate service.

Office address

Colliers International | Indonesia, World Trade Centre 1, 10th and 14th Floors, Jl. Jenderal Sudirman, Kav. 29 – 31, Jakarta 12920, Indonesia

4. PT Cushman & Wakefield Indonesia

Cushman & Wakefield is a global brand operating in Indonesia. It’s a century old real estate agency that was founded in 1917 in New York. They currently have a presence in 70 countries, with over 253 offices and 45,000 professionals globally.

PT Cushman & Wakefield Indonesia was founded in 2007. The head office is situated in Jakarta. David Cheadle is the Managing Director, he has 30 years experience of working in the real estate industry, before joining Cushman & Wakefield Indonesia, he worked in London, Hong Kong, and Singapore.

Cushman & Wakefield has won several awards in Asia Pacific region, including: Highly Commendable Property Consultancy in Singapore and Vietnam, by International Property Awards for Asia Pacific.

Property types and areas

PT Cushman & Wakefield Indonesia offers its services for residential, office, and retail properties. Some projects currently listed on their website are:

  • Medan Centre, Jakarta (residential project)
  • PT Karyadeka Graha Lestar, Jakarta (commercial project)

They cover Jakarta and all the other major cities through their head office in Jakarta, which is their only office in Indonesia.

Services offered

The company offers a wide range of services that include investment services, research & advisory, marketing consultancy, tenant representation, design & project management, and property & facilities management.

Office address

Indonesia Stock Exchange Building Tower 2, 15/F, JI. Jend. Sudirman Kax.52-53, Jakarta, 12190, Indonesia

5. Ray White Property Group Indonesia

Ray White is a leading real estate agency in the Asia Pacific Region. It was established in 1902 in Australia and has expanded to several countries. They also have several offices in China, USA, and the Middle East.

Johann Boyke Nurtanio co-founded the company in 1997 (Jakarta) and is still acting as the CEO of the company. They currently have six franchise offices in the city and it’s the biggest international real estate brand in Indonesia, with 175 offices in 25 cities. Around 4,000 professionals work for the company all over the country.

You can find their offices located in Jakarta, Tangerang, Depok, Bogor, Manado, Ambon, Bekasi, Karawang, Cirebon, Bandung, Bali, Lombok, Pekanbaru, Semarang, Yogyakarta, Solo, Surabaya, Malang, Palembang, Lampung, Balikpapan, Jember, Bangka and Makassar.

They’ve won several awards in Indonesia, including:

a. Top Brand Award under Property Agent category for last 5 years

b. Won several Corporate Image Awards

c. Top Indonesian Business Award for 2015

d. The Best Franchise Award for 2017 and several more.

Property types and areas

Include both residential and commercial properties. There are over 85,000 residential properties listed for sale or lease on their website.

Services offered

They offer services to buy and lease residential and commercial properties.

Office address

Sahid Sudirman Center, 43E floor, Jl. Jend. Sudirman No.86, Jakarta Pusat, DKI Jakarta, Indonesia 10220

6. Propnex Indonesia

Propnex Indonesia was founded in 2016 as a franchise of Propnex Singapore. Propnex Singapore is the biggest real estate agency in Singapore and has been in the game for 25 years.

Propnex Indonesia currently has 7 franchise offices in Surabaya and East Java. They also work in partnership with JLL, which is a well-known global brand.

The head office is situated in Surabaya and there are plans to open 5 new branch offices in Jakarta this year. Luckyanto is the current Chief Executive Office at Propnex Indonesia.

Property types and areas

They offer services that caters to both residential and commercial properties, and currently cover Surabaya and East Java areas.

Some of their currently listed projects include:

  • Suncity Residence
  • Buenos Park
  • Cornell
  • Klaska
  • Wisata Bukit Mas

Services offered

The services offered by Propnex Indonesia include consultation, business strategies, marketing support, and training to real estate investors for success in real estate sector.

Other services include project management, residential and corporate leasing, new launch project marketing, commercial & industrial properties,

Office address

Dr. Sutomo No. 37, Surabaya, Jawa Timur, Indonesia

7. Brighton Indonesia

Brighton Indonesia was established in 2011, they started their first office with 20 employees. Today, they have around 20 offices and more than 1200 property agents, the company has grown much over the years.

Their website is also one of the largest property listing websites in Indonesia, with over 40,000 properties currently listed. It’s a franchise based real estate agency with offices in Jakarta, Bali, Tangerang, Jawa Timur, Lippo Village, Surabaya, Malang, Makassar, and Sidoarjo.

Property types and areas

You can find mostly residential properties listed on their website, and they sell and lease properties all over the country.

Services offered

They work as a property agent for some of the leading property developers in the country like Sinarmas Land, intiland, Pakuwon Group, Ciputra, MNC Land, AKR Land, Royal Residence and many more.

They also assist you in buying and renting residential property.

Office address

Jl. Boulevard Raya PA 1 No 14 Kelapa Gading – Jakarta Utara 14240

8. Xavier Marks Indonesia

Xavier Marks Indonesia is a leading real estate agency in Surabaya and surrounding areas. The head office is situated in East Java, but they also have 31 offices in and around Surabaya, which makes them one of the biggest real estate agencies in the area.

They have offices in most cities in Surabaya that include Pusat, Barat, Selatan, East Java, Timur, and Utara.

Mr. and Mrs. Bapak Ir. Iman Studedjo are the owner of the real estate agency, who are also the founder of DARMO Group and have 17 years of experience in real estate broker business.

Property types and areas

They sell and lease mostly residential properties. You can find around 2,500 properties currently listed on their website.

They mostly sale and lease properties in Surabaya area.

Services offered

They offer services to help you find, buy or lease residential properties in Surabaya.

Office address

Darmo Kali no 3 – 5, Surabaya 60241, East Java, Indonesia

9. Bali Treasure Properties

Bali Treasure Properties is one of the leading real estate agencies in Bali. It was founded in 2012 and consists of several foreigners which, makes it easier for you to negotiate with them without a language barrier.

They assist you in villa and land investments or villa rental for Bali vacations. Their office is also located in Badung, Bali.

Property types and areas

They only serve the Bali area and offers mostly land and villa investment or rental services. You can find around 250 villas on their website available for long term rentals.

Some of the currently listed villas on their website are Villa Aifa, Villa Sarita, Villa Camilia, and hundreds of more.

Services offered

The services include tenant service, owner service, villa facility guide, and location guide. They also help you with staffing and other arrangements once you buy or lease villa through them.

Office address

Jl. Subak Sari No.2c, Canggu – Brawa Kuta Utara, Kab. Badung, Bali 80361 – Indonesia

10. Harcourts Indonesia

Harcourts is a century old New Zealand based real estate company and was founded in 1888. They currently have more than 800 offices in South Africa, New Zealand, Australia, Indonesia, China, Fiji, Hong Kong, Zambia, Botswana, and the United States.

It was founded in 2003 in Jakarta, while they have 36 offices in almost all major cities. You can find their offices in Jakarta, Tangerang, Bogor, Surabaya, Bekasi, Palembang, Badung, Solo Raya, and Densapar.

They have around 7,400 professionals all over the world, where 228 employees are in Indonesia.

Mike Green is the current Managing Director of their global brand. He has worked in the real estate industry for over 25 years and owned Mike Green Real Estate Ltd in Auckland.

Property types and areas

You can find both residential and commercial properties for sale and lease on their website. They sell properties from all over the country. You can find more than 3,000 residential properties currently listed on their website.

Services offered

The services offered by Harcourts Indonesia include property management, residential sales and lease, and commercial and industrial lease and sale.

Office address

Panin Tower 18th Floor, Senayan City Area, Jl. Asia Afrika No.3, RT.1/RW.1, Gelora, Kota Jakarta Pusat, Daerah Khusus Ibukota Jakarta 10270, Indonesia

How much do I need to pay my real estate agent in commission in Indonesia?

The commission rate is set to 5% which is high compared to other countries in the region. In Cambodia you pay 2-3% and in Hong Kong you pay 1%. Of course you need to take the property value into consideration, but these are just comparisons.

What are the general regulations when buying property in Indonesia as a foreigner?

Indonesia is one of the least attractive country to buy property at the moment, in fact, it got the bottom place in our last Asia Property Index ranking. High taxes and unfavorable regulations for foreigners are the two main reasons.

At the moment I’m writing this article foreigners can’t even get freehold ownership of condos, which is unique in the region. The government understands the issue and have tried to introduce more relaxed regulations, unfortunately with little effect as things are still not sufficiently clear.

In the coming decade we will probably see changes to the current regulations, if Indonesia is to compete with other countries in the region.

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