Jakarta Is Still The Main Choice Of Looking For A Seken House

Home (photo: dock. Antara)

JAKARTA - The Jakarta area is still one of the main choices for house seekers as the capital city is moved to the capital city of Nusantara (IKN).

The research is according to one of the Rumah123 property marketplaces. Overall, demand for landed houses in Jakarta in June was recorded at 90.1 percent on an annual basis (yoy).

"In June 2024, demand growth (enquiries) for homes in Jakarta that are rented grew by 59.8 percent and occupancy sold by 114.9 percent on an annual basis," said Head of Research Rumah123 Marisa Jaya quoting Antara.

In terms of prices, when compared to the surrounding satellite cities, such as Tangerang, Depok and Bogor, price growth in Jakarta is relatively stagnant.

During the first semester of 2024, the growth in residential prices in Jakarta every month ranges from 0.8-1.4 percent (yoy), tends to be low compared to other cities, such as Bogor which ranges from 4.6-7.7 percent.

There are a number of reasons Jakarta has recorded price stagnation compared to other cities in Jabodetabek. First, Jakarta is one of the largest economic and business activity centers in Indonesia so that it has a high population density.

Second, property development in Jakarta has also been integrated so that there is no longer much development in Jakarta, especially for the housing sector.

Jakarta has also been facilitated by good accessibility and public transportation networks, so that it is different from other areas that can experience a significant price spike due to new developments that can increase accessibility, such as toll roads or the Jakarta-Bandung High Speed Train (Whoosh).

Marisa assessed that despite the increase in the stagnant price index, price-fixed houses in Jakarta are still the main option for property seekers who seek housing in the middle of the city but at affordable prices.

"This is because the supply of seken houses offered in Jakarta is still very diverse and has a varied price range, so it can accommodate the needs or preferences of the middle, middle and upper class," he said.

Of the five areas in Jakarta, South Jakarta became the most popular area with a percentage of popularity in the search of 31.8 percent. Followed by West Jakarta 26.8 percent, North Jakarta 17.9 percent, East Jakarta 16.6 percent and Central Jakarta 6.9 percent.

Marisa explained that the preferences in each Jakarta area show different characteristics of market segmentation. Some areas have a large proportion of preference for housing prices above IDR 5 billion, such as South Jakarta (38.5 percent), North Jakarta (37 percent), and Central Jakarta (27.6 percent). Meanwhile, in East Jakarta, the demand for this price range is only around 4.6 percent.

In Jakarta, property seekers generally come from the 25-34 year age group, with a proportion of between 33-35.9 percent. Followed by the 45-54 year age group which covers 19.9- 21.9 percent.

"This data shows that the younger generation and productive adults are the main groups who are actively looking for property in Jakarta," said Marisa.

In terms of origin, he continued, most property seekers in Jakarta come from within the area itself. However, the surrounding satellite cities also recorded a significant proportion of searches.

For example, those from Tangerang are the second highest property seeker group in West Jakarta with a proportion of 6.6 percent. Meanwhile, seekers from Depok and Bekasi became the second highest in South Jakarta with a proportion of 4 percent and East Jakarta with a proportion of 4.6 percent.

For property seekers who want to own a house in the middle of the city, seken houses in Jakarta remain an attractive residential option. With a variety of prices that are able to reach the middle to middle-up class, Jakarta offers a wide selection for residential seekers," he explained.

Jakarta's annual popularity proportion is also still increasing since the end of 2023, especially in the areas of South Jakarta, Central Jakarta, and North Jakarta.

"This indicates that the plan to move the capital city from Jakarta to IKN has not seen a significant impact on the residential property sector in Jakarta. The search trend is still stable since last year, and the popularity of Jakarta as a residential location will continue to grow," said Marisa.