property
Jakarta Sellers Cut Prices as Properties Sit 90+ Days Unsold
New listing data shows properties across Jakarta's mid-market corridors sitting unsold for 90 days or more, forcing vendors to shave prices they once considered non-negotiable.
How we reported this
The numbers are blunt. Residential listings across Jakarta's secondary market are averaging between 85 and 110 days on market in the second quarter of 2026, up from roughly 60 to 70 days recorded through most of 2024. Vendor discounting, the gap between initial asking price and final transaction price, has widened to an estimated 8 to 12 percent in mid-market segments, according to tracking by property consultancies monitoring the Jabodetabek corridor. For a city where landlords and sellers historically expected to hold firm on price, that shift is significant.
The timing matters because Jakarta's property market had spent most of 2024 and early 2025 absorbing post-pandemic demand, particularly in the SCBD district and along the TB Simatupang corridor in South Jakarta. New toll road completions linking Bintaro and BSD City to central Jakarta fuelled optimism that satellite-city values would keep rising. That optimism has cooled. Rising mortgage rates following Bank Indonesia's tightening cycle, combined with a broader caution among middle-class buyers, have pushed transaction volumes down at precisely the moment a wave of new inventory, from completions delayed during the pandemic years, has hit the listings portals.
Where the Pressure Is Sharpest
Kemang, long a reference point for expatriate and upper-middle-class demand in South Jakarta, is showing some of the most visible signs of softening. Terrace houses on Jalan Kemang Raya and surrounding gang streets that were listed at IDR 25 billion to IDR 30 billion in early 2025 are now transacting, when they transact at all, closer to IDR 22 billion to IDR 26 billion. Several agents operating along the Kemang corridor have noted listing periods extending past 120 days on single properties, a duration that was rare in 2023.
BSD City in Tangerang Selatan presents a different but related picture. Developers including Sinar Mas Land have continued to release new landed-house clusters, and the volume of resale listings competing against fresh developer stock has compressed seller leverage. Buyers on Jalan Pahlawan Seribu and in the Grand Wisata township area are negotiating discounts more aggressively than at any point in the past three years. Bintaro Jaya, the Jababeka-adjacent township developed by Jaya Real Property, faces a comparable dynamic: completed units from the 2022 and 2023 build cycle are circulating on secondary platforms like Rumah123 and 99.co Indonesia without finding buyers at original price expectations.
The city's premium tier, Grade A apartments in SCBD, Sudirman, and the Kuningan diplomatic belt, has held up better on absolute pricing, with per-square-metre rates in those zones still hovering near the IDR 55 million city average or above. But even here, the days-on-market metric has crept upward. Units at completed towers near Jalan Jenderal Sudirman that sold within 30 days in 2023 are now listed for 60 to 90 days before binding agreements are signed.
What Buyers and Sellers Should Expect Next
The practical read for vendors is straightforward: pricing to last year's comparables is an almost certain route to an extended listing. Agents across Kebayoran Baru and Cilandak report that sellers who enter the market at a 5 to 7 percent discount to peak-2024 valuations are clearing within 60 days, while those anchoring to peak prices are watching their listings age on portal pages.
For buyers, the current environment is the most negotiating-friendly Jakarta has offered since the post-2015 slowdown that followed the commodity price crash. Genuine motivated sellers, those with refinancing pressures or who bought off-plan and need to exit, are reachable at discounts that were structurally unavailable 18 months ago.
The second half of 2026 will test whether a rate cut from Bank Indonesia, widely anticipated by the fourth quarter, restores enough buyer confidence to absorb the overhang. Until that catalyst arrives, the arithmetic favours patience on the buy side and realism on the sell side. Properties priced right are still moving. Properties priced to 2024 sentiment are sitting.
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.