Stubborn Listings, Sharper Discounts: Jakarta Property Vendors Feel the Pressure as Days on Market Climb

Jakarta’s residential property sellers are watching the calendar-and the calculator. Average days on market for listings in the capital city have jumped to 104 days as of June, according to the latest figures from Rumah123, up from just 83 days this time last year. The result: would-be sellers, especially in premium and suburban developments, are increasingly cutting asking prices, sometimes by more than 8%.

Cooling Momentum in a Shifting Market

The slowdown comes at a pivotal moment. With Indonesia’s economy wrestling with higher living costs and uncertain global headwinds, more Jakartans are hesitating before committing to big-ticket purchases like homes. This week’s extended heatwave has kept foot traffic down at weekend open houses, notably in the leafy Kemang expat enclave and the congested apartment corridors of Sudirman Central Business District (SCBD). The city’s swelling inventory, from high-rise clusters on Jalan Prof. Dr. Satrio to townhouse rows in Bintaro Sektor 9, has only sharpened competition between vendors.

Both local developers and private owners are dangling incentives: covered notary fees, furniture packages, and outright price reductions. An executive at Ciputra Group, which has launched phases in BSD City and Pantai Indah Kapuk 2 this year, acknowledges to The Daily Jakarta that new projects are also calibrating initial listings below 2025 levels, responding to a spike in unsold units after Hari Raya.

Bargain-Hunting Buyers, Number-Crunching Sellers

The clearest numeric story is unfolding in mid-to-high-end towers along Jalan Sudirman. According to Colliers Indonesia’s Q2 Market Snapshot, secondary apartment listings over IDR 2 billion are being discounted by an average of 6.7% before a deal closes. In SCBD, one agent told The Daily Jakarta that a two-bedroom at the Residences at Dharmawangsa was recently relisted three times over four months, eventually closing at IDR 48 million per sqm-a 10% chop from the initial sticker price. In BSD’s cluster De Latinos, developers trimmed prices for unsold inventory by around IDR 300 million per unit last quarter.

The days on market stretch is especially marked in established, landed neighborhoods-such as Menteng and Pondok Indah-where buyers are scrutinizing every square meter amid high interest rates, which Bank Indonesia kept at 6.25% in its June meeting. As city toll road expansions accelerate, high hopes for uplift in the satellite hubs of Bekasi and Alam Sutera have yet to translate into faster sales.

What Next: Takeaways for Sellers and Buyers

Banks like BCA and Mandiri are stepping up mortgage campaigns, with loan-to-value incentives to spark movement-yet analysts predict days on market will stay above the 90-day mark through September. For owners hoping for a quick sale, agents are blunt: set expectations for at least two months before closing, and be prepared for price negotiations well below public listings.

For buyers, the current lull is a window for aggressive offers, especially in secondary markets and units with longer listing histories. The best deals, agents say, are emerging in CBD apartments and outer-ring landed clusters as sellers capitulate to buyers’ terms. Keep watching new launches from giants like Agung Podomoro and Intiland for further signs of pricing resets as Jakarta’s market continues to seek its 2026 balance.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.