The office market in Jakarta is still in a position of rebalancing. Vacant space is increasing and rents continue to decline. Meanwhile, the market still has to face large additional supply in the next two years.
In the future, integrated office buildings with excellent transport links, accessibility to residential catchment areas, affordable rents and retail amenities will be keenly sought after.
Landlords are expected to play an important role in the market recovery; one that is more flexible in responding to market needs, especially considering that lease agreements are likely to become shorter due to continued uncertainty.
