The total cumulative supply for both serviced and purpose-built rental apartments in the first half of 2021 remained unchanged at 8,978 units with no additional supply entering the market. For the serviced rental apartments, 67% of the supply were in the CBD area with 63% of such units located in South Jakarta. While, for the non-serviced, purpose-built rental apartments, 61% of the supply were in the Non-CBD area with 84% of such units located in South Jakarta.

The prolonged pandemic has persisted to delay several new projects which were initially expected to commence operations by the first half of 2021. There were ten new projects in the pipeline, totaling 1,670 units that are expected to enter the market during the period of 2H 2021-2023. 71% of the total new supply will be located in the CBD area and the remaining will be in the Prime Non-CBD area. Majority of the proposed serviced apartment projects managed by international operators are located within mixed-use developments.

Download to see the full report here.