Feeling The Pinch

Notwithstanding Indonesia's recent economic contraction, the property market in Jakarta remains one of Asia's most promising. The country's soaring rate of urbanization from 53 percent to 73 percent by 2030 and expanding consumer base-45 million persons to an estimated 135 million persons by 2030-all but guarantee stability in the sector. In nearly every segment analyzed in a recent study by the Urban Land Institute covering apartments, retail, hotel business and industry, Jakarta ranked at or near the top of the list, trailing only Tokyo in terms of overall market competitiveness.