The second wave of COVID-19 added pressure on the commercial real estate sector in Jakarta and even affected residential property, consulting firm Colliers International reported Wednesday. The occupancy rate for offices fell by 0.5 percentage points to 78.7 percent in the central business district (CBD) and by 0.6 percentage points to 77.8 percent outside the CBD in the July-to-September period from the previous quarter. Office occupancy in the capital has been on a downtrend since the third quarter of 2020. Despite new office space set to enter the market by the year-end, the occupancy rate in the CBD is expected to pick up slightly based on rent commitments secured by landlords, according to Ferry Salanto, senior associate director of research at the property firm. Yet the figure may stay below 80 percent.

https://www.thejakartapost.com/news/2021/10/07/jakarta-property-sector-under-pressure-from-covid-measures-colliers-international.html

By Jakarta Post

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