Apart from that, the food and beverage industry, manufacturing, fast moving consumer goods or FMCG industry, coworking space and household equipment.
“The potential growth of this business is a generator for growth in the property sector this year,” said Syarifah.
He added that Jakarta as a business center will still have a magnet for high property growth, and the Bogor, Depok, Tangerang and Bekasi areas as part of the megapolitan region will become growth areas and residential barometers. Jakarta and its surroundings have undergone many phases of property growth and design.
New capital
IKN as a government area entity has property growth related to government activities. IKN as a new area is considered to still need to prove the extent to which the attraction is managed optimally so that it has a significant impact. City development takes time, including implications for the surrounding area.
“IKN is a magnitude bar, everyone is looking at it and the intensity of development is quite high. “However, its contribution to national property growth cannot be compared to metropolitan areas,” said Syarifah.
Until December 2023, the investment value realized in IKN has almost reached IDR 45 trillion. President Joko Widodo, some time ago, emphasized that the construction of IKN is a long-term project that will take 15-20 years. As the government changes after the upcoming election, President Jokowi emphasized that IKN will continue.
The following are 10 cities that have growth potential in the property sector in 2024:
1. Jakarta
2. Ibu Kota Nusantara (IKN)
3. Bali
4. Surabaya
5. Tangerang
6. Batam
7. Balikpapan
8. Tangerang Selatan
9. Labuan Bajo
10. Semarang
Property demand in the IKN area is skyrocketing
Demand for property in several cities in the Indonesian Capital Region (IKN) is increasing. Demand in Balikpapan and Samarinda increased by 57 percent and 1 percent respectively year-to-date (ytd) until September 2023.
Based on research results from real estate technology company 99 Group, in other areas such as Berau, Bontang, Kutai Kartanegara and East Kutai demand is still below 1 percent.
Head of Research 99 Group Marisa Jaya assesses that property demand trends in IKN area cities still tend to fluctuate every month.
“Research results also show that the growth in property demand in Balikpapan on an annual basis (year-on-year/yoy) was recorded at 149.8 percent and in Samarinda at 28.7 percent,” he explained in a written statement, Monday, November 13 2023.
