Jakarta is a bustling metropolis that attracts investors and entrepreneurs worldwide thanks to its strategic location and booming economy. The property sector continues to support the country’s economy strongly. Buying land in Jakarta can be a lucrative investment opportunity but requires careful research and planning. In this article, we will explore the land price in Jakarta and how much it costs to purchase land in Jakarta.
What is the average land price in Jakarta?
The average land price in Jakarta can vary greatly depending on location, size, and zoning regulations. In general, land prices in Jakarta are among the highest in Indonesia, reflecting the city’s status as the country’s economic and political hub.
The average buying price of land is IDR 4 billion ($252,000), pegged at IDR 12.5 million ($788) per square meter. The median rent price is IDR 438 million ($27,594), with an annual growth of 16.6%. On a positive note, if you find a property worth less than IDR 2 billion ($126,000), you are exempted from paying Land and Building Tax or Pajak Bumi dan Bangunan (PBB) in Indonesian.
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South Jakarta
South Jakarta is an affluent city with its upscale neighborhood and shopping centers. It’s a central commercial district with several multinational corporations, banks, and business centers.
Real estate costs and prices in South Jakarta
| Average buy price | Average price/sqm | Average rent price | |
|---|---|---|---|
| Land | IDR 4.29 billion ($270,270) | IDR 16.9 million ($1,065) | IDR 218 million ($13,734) |
West Jakarta
West Jakarta is a diverse and densely populated area of the city, known for its bustling markets, shopping districts, and historical landmarks. It’s home to some of Jakarta’s most iconic tourist destinations, such as the Old Town (Kota Tua) and the National Museum of Indonesia. In addition, West Jakarta is a hub for trade and commerce, with several industrial parks, warehouses, and logistics centers in the area.
Real estate costs and prices in West Jakarta
| Average buy price | Average price/sqm | Average rent price | |
|---|---|---|---|
| Land | IDR 4 billion ($252,000) | IDR 14.8 million ($932) | – |
North Jakarta
North Jakarta is a coastal area of the city known for its rich maritime history, bustling ports, and vibrant nightlife. It’s home to some of Jakarta’s most essential and busiest ports, including Tanjung Priok, which is Indonesia’s busiest port. In addition, North Jakarta is a popular destination for entertainment and leisure, with several shopping malls, amusement parks, and nightclubs.
Real estate costs and prices in North Jakarta
| Average buy price | Average price/sqm | Average rent price | |
|---|---|---|---|
| Land | IDR 4 billion ($252,000) | IDR 12.6 million ($794) | IDR 470 million ($29,610) |
Central Jakarta
Central Jakarta is the heart of the city, known for its iconic landmarks, cultural institutions, and government offices. It’s home to several of Jakarta’s most recognizable landmarks, such as the National Monument (Monas) and the Istiqlal Mosque, as well as the Presidential Palace and the National Museum of Indonesia.
Real estate costs and prices in Central Jakarta
| Average buy price | Average price/sqm | Average rent price | |
|---|---|---|---|
| Land | IDR 4 billion ($252,000) | IDR 24.6 million ($1,550) | – |
East Jakarta
East Jakarta is a rapidly developing area of the city known for its industrial parks, housing complexes, and shopping centers. It’s home to several central commercial and business districts, such as Cawang and Kuningan, as well as several universities and research institutions.
Real estate costs and prices in East Jakarta
| Average buy price | Average price/sqm | Average rent price | |
|---|---|---|---|
| Land | IDR 2.4 billion ($151,200) | IDR 9 million ($567) | IDR 219 million ($13,797) |
How can foreigners buy land in Jakarta?
Foreigners can buy land in Jakarta, but some restrictions and regulations must be followed. Technically, a foreigner cannot own land in Jakarta since freehold properties that provide full ownership over real estate are only for Indonesian nationals. Nonetheless, foreigners can still buy land by establishing a PT PMA, a legal entity that can own freehold land.
Another way foreigners buy land is through a leasehold agreement. It is closest to a typical rental agreement. Lastly, you can appoint an Indonesian nominee and enter into a trust agreement where the locals will legally own the property. It is not advisable to do so as this can have legal repercussions.
Calculate the land costs in Jakarta
Proper planning and research make it possible to estimate Jakarta’s land costs. Some key factors to consider include the land’s location and size. By breaking down each cost element and creating a budget, you can better understand the total cost of buying a piece of land in Jakarta. To help with this process, our online calculator can assist in estimating the costs of buying land in Jakarta.
Buy land in Jakarta with Own Property Abroad
Do you want to buy land in Jakarta? Own Property Abroad can assist you and ensure a seamless, hassle-free real estate journey. Thanks to our extensive knowledge and local experience in Jakarta, we can help with legal requirements, finding suitable plots of land, negotiating the best deals, and conducting due diligence.
With our expert team, you won’t have to navigate the complexities of the real estate market in Jakarta alone. For further information on how we can assist you, kindly drop your details below or email us at [email protected]. Let’s start working on your property success story today!
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Frequently Asked Questions (FAQs)
How to find land for sale in Jakarta?
To find land for sale in Jakarta, you can start by browsing online property listings on websites such as Own Property Abroad, Rumah, Dotproperty, or OLX. You can also work with a licensed real estate agent who has access to exclusive listings and can assist you in finding the right property for your needs.
Is Jakarta good for real estate?
Yes, Jakarta is a good place for real estate investment, mainly because of the return of economic activity and the government’s effort to entice foreign investment.
Is the property in Jakarta expensive?
Property in Jakarta can be expensive, especially in prime locations such as Central and South Jakarta. However, prices vary depending on location, size, and amenities.
