Supply and demand are equally rising as the Indonesian government offers more incentives to facilitate industrial property developers and companies operating factories and warehouses in Indonesia’s industrial zones. We use cookies to enhance your experience with Savills, including to show you more personalised content and tailored advertisements. Commercial property to rent Commercial property for sale Advertise. The price of land is closely connected to industrial estatesâ proximity to major cities â especially Jakarta â and transportation links, e.g. 1 Banjar Tiying Tutul Pererenan Bali 80361. The Development of Commercial Property is a quarterly analysis about commercial property development and prices as one of the indicator to compute the asset price inflation in Indonesia. In addition, the year 2012 was rife with industrial action, which led to massive minimum wage hikes for 2013 and emboldened an increasingly audacious labour movement. As a result, the manufacturing sector lost some of the buoyancy it had displayed, which in turn softened demand for factories and warehouses and the land they stand on. Two risk factors for industrial activity, and hence, Indonesiaâs industrial property market, warrant discussion. By contrast, retail rents are expected to grow at the same pace of roughly 5% in either city. Average per square metre (sq. Housing Index in Indonesia averaged 153.27 points from 2002 until 2020, reaching an all time high of 213.50 points in the third quarter of 2020 and a record low of 100 points in the first quarter of 2002. Meanwhile, Australia through the Australia Indonesia Business Council (AIBC) has signed a memorandum of understanding on investment partnership opportunities in industrial property development with Banten Global Development (BGD), a regional-owned enterprise under the authority of Banten Province. However, other regions are gaining traction in terms of economic growth and hence as bases for manufacturing industries. The Federal Reserve Bank of St. Louis has an illustrative graph showing the price changes. The property price index (16 major cities) rose by 1.77% during 2019, according to Bank Indonesia, after rises of 2.95% in 2018, 3.5% in 2017, 2.38% in 2016, 4.62% in 2015 and 6.29% in 2014. Moreover, a number of neighbouring countries are also interested in developing industrial zones in Indonesia through a G-to-G partnership. KIIC is an Industrial Estate with approximately 1400 hectares of area. Industrial. Since his 2014 presidential campaign, the President has made it clear that the emphasis of his administration will be on enhancing Indonesiaâs infrastructure and industrial development (See High Stakes for Indonesia's New Infrastructure Push), whereby the industrial property sector will play a signifi⦠P +62 361 84 82 866 M +62 81 79 1 79 79 9 info@baliselect.com Most of these aspects are beyond the control of industrial area developers; for example, the availability of supporting infrastructure, such as toll roads and railways, government incentives in the form of tax holidays or tax allowances, among others. To date, the Indonesian Ministry of Industry has facilitated the development of 14 industrial land area projects outside of Java which have been made a national priority. Indonesia’s Construction & Building Materials Sector On the Up & Up, Concrete Developments in Indonesia’s Infrastructure, Based on the Master Plan of the National Industrial Development, the Indonesian government has set a target to develop 36 new industrial estates with a total area of 50,000 hectares. The country has aggresively developed its industrial areas in the last few years which now has reached 304 industrial estates. An Update on Indonesiaâs Land Acquisition Law, Automotive Industry: Driving Manufacturing. In addition, Subang in West Java is also expected to become a growth driver once the government completes the construction of the Patimban Port. The sluggish development of supporting infrastructure, such as dependable electricity (See Indonesia's Electricity and Power Generation Sector) and efficient seaports (See Indonesia's Logistics Sector), is one reason for the slow expansion of industrial real estates in Indonesia over the past years. Indonesia’s Industrial Property Sector: Rising Supply and Demand, Indonesia's Construction Material Sector: Challenges Amid Flood of Imports, Indonesia’s Commercial Property Sector: Oversupply and Slow Demand Affects Growth, Indonesia’s Residential Property Sector: Remaining Sluggish Despite Incentives, Indonesia’s Logistics Sector; Making Connections, Overview: Indonesia’s Downstream Oil and Gas Sector. Vietnam is considered to be offering more attractive incentives to investors within its industrial areas such as a concession term of 100 years as opposed to 30 years in Indonesia. Recent changes to formerly cumbersome laws and regulations on land acquisition, along with increased government spending and greater commitment to public-private partnerships (PPP), nurture the expectation that infrastructure development will speed up (See Indonesian Infrastructure: Tremendous PPP Opportunities). Thus, there has been a shift of demand from the areas of Greater Jakarta and West Java to new industrial centres which offer cheaper land prices and lower labour costs (See Labour Pains in Indonesia). Indonesiaâs property market has slowed down in the past years after experiencing a sharp growth in 2012. Under the Indonesian government’s infrastructure drive (See Concrete Developments in Indonesia’s Infrastructure), industrial land and industrial estates have been given renewed attention and given the sector a boost. In the long run, however, Indonesiaâs industrial property market has a lot of potential to grow, if the government supports the process. Both of these factors have driven drive up production costs in Indonesia beyond what was justified by productivity gains. Bank Indonesia (BI) data show that industrial estates in and around the capital â namely in Jakarta, Bogor, Bekasi and Karawang (Jabobeka) â amounted to 6771 hectares (ha) in the fourth quarter of 2013, unchanged from a year earlier and only modestly higher than 6197 ha in 2010. Prices average at USD 2,041 per square meter in the central parts of Jakarta, while prices average at USD 1,017 per square meter in suburban areas. Jalan Raya Tiying Tutul No. Average Condominium Price: 48,100,000 IDR/sqm (CBD, Jakarta, Q3 2015) This is higher than land prices in Bangkok, Thailand and Vietnam of $144 USD and $45 - $150 USD, respectively. Transport links across the country and to export destinations must improve to bring down logistics costs, boost efficiency and thereby justify high land valuations. Average Condominium Price: 48,100,000 IDR/sqm (CBD, Jakarta, Q3 2015) BI data show that rents in the Jabobeka estates rose by less than 1% per quarter in the second half of the year, after increasing around 13% in each of the first two quarters. Among these include Dumai (Riau), Tanjung Buton (Riau), Berau (East Kalimantan), Tanah Kuning (North Kalimantan), JIIPE (East Java), Kendal (Central Java) and Wilmar (Serang) industrial areas. Bekasiâs land prices are the highest on average, at $219.30 per sq metre, while Serangâs are the lowest, averaging $157.32 per sq metre. However property prices actually fell by 1.17% last year, when adjusted for inflation. m.) prices in US$/⬠of 120-sq. To speed up the development of industrial areas in Indonesia, the government has offered various incentives both for industrial property developers and companies operating factories and warehouses in the industrial zones. Some of these areas have received the KLIK (Direct Construction Investment Facility) incentive from the government. The second factor pertains to Indonesiaâs labour market. The commercial real estate market in Indonesia is fragmented with the presence of many small players. INDONESIA INDUSTRIAL ESTATES IN WEST JAVA PROVINCE I. BEKASI No. toll roads. The Indonesian government, through state-owned enterprises, owns 6%. Furthermore, the decline in Indonesian state revenue which has led to budget and spending cuts, has made it difficult for the Indonesian government to develop the infrastructure needed to support new and existing industrial areas such as roads, airports, sea ports, railways, power plants and water supply that is estimated to reach 55.45 trillion IDR. According to the Indonesia Investment Coordinating Board (BKPM), there are 14 industrial areas which have implemented KLIK. During January-September 2015, Indonesia attracted foreign direct investment of $15.48 billion USD or 26% of total FDI inflow into ASEAN during the period. Average Retail Space Rental Price: 500,00 IDR/sqm/month (CBD, Jakarta, Q1 2016), 545,968 IDR IDR/sqm/month (Jakarta, 2016) Moreover, it remains nearly impossible for expats to obtain a local mortgage to finance the purchase of property. – Indonesia Unveils Second Economic Policy Package) launched by the Indonesian government in September 2015; additional benefits include tax holiday of three years for capital goods imports (See Indonesia Introduces New Tax Incentives for Pioneer Industries), and discounted gas price for a variety of industries including fertiliser, petrochemicals, and steel, and many others. Renting longer are special prices, just ask us or visit our webpage. Twice as Nice? Rp27.500.000.000 Sign up for the GBG Indonesia Quarterly Business Intelligence Report for the latest news on your sector. | indonesia.realigro.com INDONESIA INDUSTRIAL ESTATES IN EAST JAVA PROVINCE No. Average Industrial Land Price : $221.51 USD/sqm (Bekasi, Q1 2016), $144.16 USD/sqm (Tangerang, Q1 2016) List of Priority Industrial Estate Development for 2015 — 2019. Indonesia opened the property market to those foreigners who reside (legally) in Indonesia. This is in stark contrast with other Asian countries. Lippo Group. Indonesiaâs economic slowdown in 2013 has not been without impact on the market for industrial real estate. Legislative and presidential elections in 2014 added an element of political uncertainty. Given the slow progress in the development of some of the priority industrial areas, the Indonesian government is considering expanding the list by adding new industrial estates that have demonstrated rapid progress. A study by commercial real estate company Colliers International appears to corroborate this risk, forecasting that industrial rents in Jakarta would rise by just over 2% in 2014, compared to an increase of 21% in Manila. The first pertains to the price of industrial land, which until 2010 was considered quite competitive globally, but since then has increased so much that it has become a burden for domestic industries. The governmentâs long-term development roadmap stresses the importance of developing growth centres outside of Java, especially in eastern regions of the country. 2/2012 on Land Acquisition for Development in the Public Interest to include industrial land areas, while the Minister of Agrarian Affairs and Spatial Planning proposed to include industrial property development into the list of strategic projects in Presidential Regulation No. Indonesia’s industrial property sector has been subject to challenges as industrial investors have hesitated and delayed their entry or expansion due to greater uncertainty in the local and global economic climate. You can also search for serviced apartments or by property type. The same is true for major secondary cities, such as Makassar and Manado, but also the North Sumatran capital of Medan, which in 2013 inaugurated its new airport. View Location on Maps. Rigid regulations make it very costly to lay off employees and at the same time seek to prevent companies from outsourcing some activities or hiring contract workers. Given the insufficient increase in industrial estate supply at a time of fast economic development, it is unsurprising that prices increased substantially. Survey includes 16 cities such as Bandun, Bandar Lampung, Banjarmasin, Denpasar, Palembang, Semarang, Yogykarta, Padang, Medan, Makassar, Manado, Surabaya, Pontanak, Batam, Balikpapan, Jabodebek-Banten. Bank Indonesia (BI) data show that industrial estates in and around the capital â namely in Jakarta, Bogor, Bekasi and Karawang (Jabobeka) â amounted to 6771 hectares (ha) in the fourth quarter of 2013, unchanged from a year earlier and only modestly higher than 6197 ha in 2010. BIIE Bekasi International Industrial Estate PT Hyundai Inti Development Marketing Contacts: Riesta Widyasari P: +62 21 892 378 +62 21 897 2379 +62 21 897 2288 Cikarang, A report from property consultants Cushman and Wakefield showed that industrial land prices for Greater Jakarta and West Java rose by 11.1% in the first quarter of 2011 from the previous quarter, reaching an average of 800,000 RP per square metre. ), the Indonesian government has established a special task force under the Coordinating Minister for Economic Affairs. The main reason behind soaring industrial land prices in Indonesia is because the majority of suitable industrial land sites are owned by the private sector which can unilaterally set their prices to keep pace with supply and demand. Pakubuwono, Kebayoran Baru, Jakarta Selatan. Industrial properties for sale in Scotland from Savills, one of the leading commercial property agents globally. Property prices in Indonesia Jakarta has some of the lowest property prices in Asia and even outperforms places like Phnom Penh, Cambodia. One of the major challenges facing the Indonesian industrial property sector is soaring land prices. The average land price in Jakarta and its surrounding areas is $191 USD per square metre. Rather, the demand for industrial property in Banten, Central Java, East Java, and outside Java is on the rise. In the Jabobeka areas, the selling price almost quadrupled from an average Rp730,315 per square metre (sqm) at the end of 2010 to Rp2,741,840 in 2013. The price of land in industrial estates in Indonesia is now among the highest in the region. Mortgage to GDP Ratio: 3.5% (2015) In the estates in Banten (Tangerang, Cilegon and Serang), prices rose from Rp620,340/sqm in the fourth quarter of 2010 to Rp1,577,388 three years later. Furthermore, to resolve various issues in the sector, particularly the land acquisition problem (See Indonesia’s Land Acquisition Laws; On Paper Only? Colliers research empowers property occupiers, owners and investors to maximise the potential of property to The depreciating rupiah and rising borrowing costs also tainted enthusiasm for real estate investment and uptake. Indonesia’s Law on Foreign Ownership of Property: What are the Changes? Designated industrial real estate in Indonesiaâs economic heartland of West Java has not kept pace with the countryâs development over the past years. Designated industrial real estate in Indonesiaâs economic heartland of West Java has not kept pace with the countryâs development over the past years. Based on the Master Plan of the National Industrial Development 2015 — 2035, the Indonesian government has set a target to develop 36 new industrial estates with a total area of 50,000 hectares. Indonesian residential property market rarely makes big moves. Memby Untung PRATAMA, Indonesia Keywords: Land Asset Management, Land Value, Land Price, Indonesia Valuation Standards (IVS), Industrial Estate, Jakarta. SUMMARY In Jakarta, there are several Industrial areas which have very high land price. BIâs data show them growing from a total of 5388 ha in late 2010 to 5418 ha in the fourth quarter of 2013, again with no increase registered throughout 2013. Most of Indonesia’s industrial land areas or 94% are owned by the private sector. Sanny Iskandar, Chairman of the Industrial Estate Association (HKI), said sales of industrial land in the first half of this year reached 120 hectares. After recording stagnant growth over the last decade, Indonesia’s industrial property sector is recovering following the Indonesian government’s efforts to attract industrial investors under President Joko Widodo. 2/1999 on location permits which restricts the ownership of industrial areas by a group of companies to 400 hectares in one province and 4,000 hectares throughout Indonesia. The Jakarta Globe in October 2013 cited a concerned official from the Industry Ministry, who explained that a square metre in Bekasi and Karawang was priced at $191, compared to $119 in Bangkok and $52 to $102 in Manila. Unfortunately, only three industrial estates in Morowali, Bitung and Sei Mangke have been developed so far. We are pleased to offer a range of property in Indonesia. The first area started in 1992 and now we are expanding to the 4th phase. Contribution to GDP: 2.79% (Q3 2015) Indonesian residential property market rarely makes big moves. Colliers is the only property consultant in Indonesia that has a separate and specialised Industrial Services that provide an unrivalled depth of experience founded on years of marketing to some of greater Jakarta and greater Surabayaâs premier industrial properties. Indonesia’s Land Acquisition Laws; On Paper Only? Abbre-viation Industrial Estate Name Company Name/PT Location Size Ha Tenants Price Land/SFB Rental Land/SFB 1. It is areas around the up-and-coming secondary cities and industrial or yet-to-be industrialized locations in the east of Indonesia that harbour ample potential for industrial real estate, both in terms of area and price growth. https://www.expat.com/en/housing/asia/indonesia/land-for-sale.html Last but not least, Indonesia’s industrial property sector relies heavily on investors, especially foreign investors (See Indonesia’s Law on Foreign Ownership of Property: What are the Changes?). Check our Bali commercial property listings of Bali resort for sale, bars, shops and restaurants for sale or lease My Favourite ( 0 ) Call us +62 812-3918-9181 Thus, it is difficult for the Indonesian government to control market forces governing land prices and the implementation of laws governing the acquisition of land in the public interest remains weak. Lippo Group is one of the largest property developers in Indonesia that owns a number ⦠3/2016 on national strategic projects to facilitate land acquisition. Average Office Space Rental Price: 401,010 IDR/sqm/month (CBD, Jakarta, Q1 2016) Browse by city and look up real estate listings for free! Of course, implementation remains an issue with the one-stop-shop programme as a variation in adherence to the process differs from province to province. 5 bedroom detached villa for sale in Canggu, Bali. To keep the country attractive for manufacturers, the government must speed up planned infrastructure projects that are vital for companies to produce and distribute their goods. Industrial estates in the province of Banten to the west of Jakarta, most of which lie in the city of Tangerang, have expanded at an even slower pace. If the trends persist, higher unit costs could jeopardize Indonesiaâs competitiveness as a manufacturing base for industries like automotive and auto parts, food processing, textile and consumer goods (See Indonesiaâs FMCG Sector), which are the main users of industrial estates. The action in the industrial real estate sector will increasingly move away from the capital area and West Java. In addition, the increase in the rate of price appreciation of industrial land in Indonesia is also well above its neighbours, reaching 30% per year as opposed to 21% and 14% in Thailand and Vietnam respectively. Abbre-viation Industrial Estate Name Company Name/PT Location Size Ha Tenants Price Land/SFB Rental Land/SFB 1. Bank Indonesia's (BI) Residential Property Price Index increased by 6.3% in 2014, down from an annual growth rate of 11.5% a year earlier. Property Investment Index by Country. Going forward, the Indonesian government will develop new industrial zones away from the Greater Jakarta area (Jakarta, Bogor, Tangerang and Bekasi) and West Java to try to ensure an even distribution of wealth and development across the country. The country’s industrial land price is more expensive and increases at a higher rate compared to industrial land prices in other ASEAN countries. Vietnam is closing in with $11.61 billion USD or 19%. Not kept pace with the one-stop-shop programme as a variation in adherence to Indonesia... Sinarmas land of Indonesia established a special task force under the Coordinating Minister for economic.... 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