Property For Sale in Jakarta: 5 Interesting New Projects & Launches

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Jakarta is a major Asian hub with around 30 million people. With Indonesia set to become a new powerhouse in Asia, Jakarta will undoubtedly lead the way.

We’ve seen similar trends in Vietnam and Cambodia, where Ho Chi Minh City and Phnom Penh receive the most foreign direct investment.

In this listing article, I’ve included some of the most interesting new property projects and launches coming up in Jakarta. The article is updated on a regular basis, providing you the latest information.

You can also find a useful FAQ section in the end of the article, explaining about foreign ownership regulations, property prices, benefits of investing in Jakarta, and more.

Viewing the projects and surrounding areas in Google Maps (Street View)

To check the projects and surrounding areas in Street View, simply zoom in the area of the marker and pull the orange colored Pegman to the marker, or nearby areas. To go back to Google Maps, press the arrow in the top left corner.

Latest Update: 2019-10-09

1. Ayala Apartment (Gayanti City)

Address: Jalan gatot subroto Kav.2, RT.2/RW.2, Kuningan Barat, Mampang Prpt., Jakarta, Daerah Khusus Ibukota Jakarta 12710, Indonesia

Ayala Apartment is a new luxury condominium project located in the bespoked Gayanti City, right in the heart Jakarta’s central business district. The project is located close to a number of amenities and facilities like shopping centers, offices, hotels, hospitals, restaurants, and entertainment areas.

The units come with a modern space design and are suitable for expats, young couples, and families.

Project Overview

  • Project: Ayala Apartment (External Link)
  • Developer: Buana Pacifik International
  • Completion date: Q3 2018
  • Prices: From IDR 1.6 billion per unit (USD 105,000)
  • Estimated yield: Unknown
  • Type: Luxury Condominium
  • Number of units: Unknown
  • Amenities: Library, swimming pool, playground, sky terrace, BBQ area, jogging track, park, gym, and more

Unit Types & Sizes

  • 1-2 Bedroom Units: 47 ~ 86 square meters

Unit Overview

About the Developer

Buana Pacifik International was established in 2004 and has become a leading developer since. The company builds commercial and residential properties in strategic areas around Jakarta.

Learn More About this Project

2. 57 Promenade

Address: Jalan Teluk Betung I No.49, Kebon Melati, Tanah Abang, Kb. Melati, Kota Jakarta Pusat, Daerah Khusus Ibukota Jakarta 10230, Indonesia

57 Promenade is a waterfront luxury condominium located in Jakarta’s central business district. The compound is modern and close to many luxury hotels, embassies, restaurants and public transportation.

The project has won awards such as ‘The Recommended Condominium’ by Property Indonesia Awards 2018, and ‘The Most Favoured Mid-Up Apartment in Mixed-use Project’ by Housing Estate Wards 2017.

Project Overview

  • Project: 57 Promenade (External Link)
  • Developer: Intiland Development Tbk
  • Completion date: 2019
  • Price: From around 2.8 billion per unit (USD 183,600)
  • Estimated yield: Unknown
  • Type: Luxury Condominium
  • Number of units: 475
  • Amenities: Indoor pool, sky lounge, sky bridge, gym and yoga area, spa, sauna, Jacuzzi, library, private dining area, and more

Unit Types

  • 1-3 Bedroom Units: 55 ~ 182 square meters

Unit Overview

About the Developer

Intiland Development Tbk. is one of Indonesia’s most reputable developer that has built a number of projects in the past years. The company mainly constructs mixed-use estates, residential buildings, and operates in industrial estate management, the hotel industry, sports facilities, and more.

Other projects built by PT Intiland include:

  • 1 Park Avenue & The Hamilton
  • Regatta
  • Graha Natura
  • South Quarter
  • Serenia Hills

Learn More About this Project

3. Aerium Residence

Address: Jl. Pulau Melintang, RT.7/RW.8, Kembangan Utara, Kembangan, Kota Jakarta Barat, Daerah Khusus Ibukota Jakarta 11610, Indonesia

Aerium Residence is a luxury condominium located in the exclusive address of Taman Permata Buana (the central business district). The complex has two apartment towers, townhouses and is suitable for families, expats, and young professionals.

The developers and designers have focused much on green areas and vegetation. Around 75% of the total area is allocated for green space and facilities, while sky gardens are installed on every fourth floor.

Project Overview

  • Project: Aerium Residence (External Link)
  • Developer: Sinarmas Land, Shimizu and Itochu
  • Completion date: 2020
  • Price: From IDR 2.8 billion (USD 183,600)
  • Estimated yield: Unknown
  • Type: Luxury Condominium
  • Number of units: 491 condo units and 18 townhouses
  • Amenities: BBQ areas, jogging tracks, swimming pools (outdoor and indoor), open air lounges, gym and yoga area, and more

Unit Types

  • 2-3 Bedroom Units: 84 ~ 165 square meters

Unit Overview

About the Developer

Aerium Residence was developed by Sinarmas Land, in collaboration with two Japanese developers: Shimizu and Itochu. Sinarmas Land has more than four decades of experience in real estate and has built more than 50 major projects over 10,000 hectares around Indonesia.

Itochu is the biggest trading company in Japan and Shimizu is the 3rd biggest contractor in Japan.

The company has won a number of awards, including The International World FIABCI Prix d’Excellence Award in Cyprus (2011), the World FIABCI Prix Award in Taichung (2013) and The Asia Pacific Property Award in Kuala Lumpur (2012 & 2013).

Learn More About this Project

4. Verde Two

Address: No, Jl. Kuningan Mulia No.9C, RT.4/RW.1, Karet, Kecamatan Setiabudi, Kota Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12980, Indonesia

Verde Two is a green luxury condominium project located in Kuningan central business district. The project has two different towers, Terraverde (East Tower) and Monteverde (West Tower).

The units are spacious with high ceilings and the area covers 1 hectare with 65% of green areas. It’s not attached to shopping malls or offices and provides a peaceful and calm environment.

Project Overview

  • Project: Verde Two (External Link)
  • Developer: Farpoint
  • Completion date: Q2 2019
  • Price: From IDR 42 million / square meter (USD 2750)
  • Estimated yield: Unknown
  • Type: Luxury Condominium
  • Number of units: 312
  • Amenities: Game lounge, library, swimming pools, sauna, kids playroom, theater room, ballroom, and more

Unit Types

  • 2-3 Bedroom Units: 173 – 212 square meters

Unit Overview

About the Developer

Farpoint is a big Indonesian developer that has won a number of awards in the past. The company won the following awards by Asia Property Awards 2017:

  • Best Office Architectural Design for Sequis Tower
  • Best Green Development for Sequis

It also won the following awards by Indonesia Property Awards 2017:

  • The Best Green Development for Sequis Tower
  • Highly Commended as the Best Universal Design Development for Sequis Tower

Learn More About this Project

5. Permata Hijau Suites

Address: Jl. Raya Kby. Lama No.55, RT.8/RW.11, Grogol Utara, Kby. Lama, Kota Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12210, Indonesia

Permata Hijau Suites is a luxury condominium located West of the central business district. There are only 10 units per floor, adding to the luxurious feeling and giving you more privacy. The units come with private balconies, marble floor, just to give some examples.

The project has two towers: Ebony that consists of 320 units and Ivory that consists of 329 units.

Project Overview

  • Project: Permata Hijau Suite (External Link)
  • Developer: Pulau Intan, Terry Palmer Group, Ateja Group
  • Completion date: Q3 2019
  • Average price: Starts from around IDR 1 billion (USD 65,600)
  • Estimated yield: Unknown
  • Type: Luxury Condominium
  • Number of units: 639
  • Amenities: Club lounge, Jacuzzi, spa, gym, yoga area, aqua gym, basketball court, private dining hall, BBQ area, and more

Unit Types

  • 1-3 Bedroom Units: 35 ~ 91 square meters

Unit Overview

About the Developer

Pulau Intan was established in 1990 and has become a leading developer in Indonesia. The company developed Permata Hijau in collaboration with Terry Group and Ateja Group, two other reputable developers.

Pulau Intan builds residential real estate projects and commercial real estate like hotels, offices, malls, and more. They’ve also built industrial buildings and social related buildings, for example, schools and religious buildings.

Learn More About this Project

FAQ

Below you can find frequently asked questions from property buyers, including our replies.

Can foreigners buy property in Jakarta?

Indonesia’s property ownership regulations are complex, it requires a bit of research before you understand how things work. The regulations are some of the most unfavorable in the region, something that has made foreigners turning to other nearby countries.

Luckily, Indonesia’s government will have no other choice than to relax the regulations in the future, if it’s to compete with countries like the Philippines, Vietnam, Cambodia.

Indonesia has a number of different ownership titles that you should know more about first. Below I’ve included information about two of the most commonly used titles: Hak Milik and Hak Pakai.

Hak Milik

Hak Milik, sometimes referred to as HM, is only available to Indonesian citizens and gives you freehold ownership of property.

You have no restrictions to use land in any way with this title, as long as you don’t capitalize on the natural resources under that land.

Hak Pakai

Hak Pakai, sometimes referred to as HP, is the most common title when it comes to foreign ownership regulations. It doesn’t give you the right-to-own, but the right-to-use the property.

If you buy a condominium, for example, you’re only allowed to buy a condominium unit that belongs to a project built on land with a Hak Pakai title.

You can get a right-to-use ownership for 30 years, with a possibility to renew the period for a maximum period of 80 years.

Emergency Law introduced as of November 2016

Indonesia has been notorious for having some of the least foreign friendly regulations in Southeast Asia.

The country even went so far that the government issued an Emergency Law in 2016 (referred to as Purppu), which gives the president instant authority to amend a law, if it’s considered an emergency to the country.

The new law has eased the regulations a bit, but many foreigners are still not enticed to invest in Jakarta due to the following reasons:

a. You need to meet a minimum investment requirement, which is currently set to IDR 5 billion for apartments in Jakarta (around USD 328,000)

b. You can only buy a house with a land size of maximum 2000 square meters

c. You can only buy one property

d. You need to keep your stay-permit when you own the property. If you decide to leave Indonesia, you need to pass the ownership to an Indonesian citizen, or another foreigner who meets the local ownership regulations

With the new law in place, you can buy second-hand units (which wasn’t the case before) and you can mortgage your property in a bank or local financial institution.

Convertible lease agreement

As you probably know by now, the Indonesian government will inevitably need to make further changes to its current foreign ownership regulations to “stay above the surface”.

A common way to assure that you’ll get full ownership of your condo once that happens is to enter into a convertible lease agreement with your developer, before you buy the property.

The lease agreement will in that case state that once the laws allow foreign ownership, you’ll get freehold ownership of the property.

Are there any minimum investment requirement in Indonesia?

Yes, according to the current regulations in place you need to invest at least IDR 5 billion (around USD 328,000) if you buy an apartment in Jakarta. This is a significantly high amount as Indonesia has the cheapest property in Asia (more about that later).

Malaysia has introduced minimum investment requirements towards foreigners as well, but these are not as strict. In both countries, the investment criteria differ between regions.

Can foreigners rent out property?

No, with the current regulations in place you’re not allowed to rent out property to any third party. You can only use the property for self use.

In case you leave Indonesia you need to either renounce your right-to-use ownership, or transfer it to another person that meets the local criteria.

What are the benefits of investing in Jakarta?

Despite having many drawbacks when it comes to foreign ownership, Indonesia, and especially Jakarta, has some of the most undervalued property markets in the world.

Some experts claim that you can earn as much as 10-25% year-on-year, once we see further changes to foreign ownership regulations. The Chinese are some of the most keen investors and have started to snap-up real estate, especially in the luxury segment.

Below I’ve listed other facts that speak for Indonesia as an investment destination:

a. Indonesia has the fourth biggest population in the world with 60% of the population aged under 30

b. The consumer market is growing quickly

c. It’s the richest country in Southeast Asia

d. The housing loan to GDP ratio is surprisingly low in Jakarta and a fraction compared to neighboring countries (like Thailand)

e. Jakarta’s real estate landscape will transform completely once the new MRT and LRT projects are finished. Jakarta suffers from traffic jams and congestions, leaving foreigners, expats and wealthy Indonesians with the only option to buy property in central areas, close to or in the CBD. With the new public transportation in place, we will see more investment opportunities in areas located further away

How high are the property prices in Jakarta?

As mentioned, Jakarta has some of the most undervalued property markets in Asia. The prices are the lowest in the region, averaging at USD 2041 in the central parts of Jakarta.

Prices are significantly lower in suburban areas, averaging at USD 1017.

Other Indonesia Property Guides

Want to learn more about taxes, visas and the buying process? Check out these articles:

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