26 Mar 2019 - Indonesia (Jakarta)
An internal flight on a Saturday mid-morning is a very civilised time to fly. I arrive in the very new International airport which was not open when I last touched down in October in Jakarta. I am on an assignment looking at the luxury tower apartments market. The airport is very modern, and it is truly a vast terminal but as travellers come to expect with all modern airports, with their passenger friendly features, I am very swiftly through and heading to the melee of downtown Jakarta.
I am collecting my thoughts as I use the weekend for a spot of report writing for the last 2 city trips, however within what seems a blink of an eye, Monday morning kicks off with a number of meetings and plenty of travelling around the city. Whilst the metro system is shiny and new it is very much in its infancy and limited to a number of stops but it will be, I am sure, a real infrastructure boost to the city as it continues to grow upwards and outwards. The sheer scale of queuing in order to use the metro stations though is something to experience but it is not for the faint hearted. I can only relate to it like arriving on match day to a Wales vs England rugby international game but getting the excited crowd through half a dozen turnstiles in time for kick off.
I have a pretty good feel for the Golden triangle area of the city, but a 30-degree heat forces you into numerous taxi journeys as I take in a tour of the apartment developments. These developments are Oases often with significant set-back entrances, secluded and shaded courtyards, 24-hour security, pool and family areas, restaurants and small on-site cafes. Akin to luxury hotels, there is an ever-present concierge services waiting to provide residents and their guests high levels of service. I am not able to enjoy these amenities as after a quick meet and greet and some exploration of the offering I am quickly off seeking the next project.
There are numerous developments, but the areas are typically near landmark locations such as Plaza Indonesia with the Kempinski residences nestled in between an already busy Office tower block skyline. Further south into the financial centre of the SCBD district and close to the Indonesian Stock Exchange and shoulder to shoulder with the numerous luxury hotels there are the ‘’The Capital’’ development and also Ascott and Oakwood residences.
The demand for these apartments is high and whilst predominately from expats these are not all Westerners with South East Asian and Middle Eastern clientele in abundance. The wealthy Indonesians are also pretty much in the thick of it as well as they seek a residence with an affordable flexibility that these developments provide when compared to a hotel that cannot always be so easily available at various times of the year and especially during festivals and holiday seasons. Apartments are typically offered on 12-month rental periods and depending on the renter’s requirements can be rented furnished or unfurnished. The offering can be from a studio up to 4 or 5-bedroom duplexes but the mid-range rentals of 2-3 bedrooms are the sweet spot.
Prices for good quality 2/3 bed apartment properties in the most desirable areas of the city, are USD 3,000 – USD 4,000 per month (unfurnished) and USD 4,500 – USD 5,500 (furnished). Luxury 4 bed apartments in similar desirable locations range between USD 6,000 – EUR 8,000 per month (unfurnished).
The Capital Residences, SCBD, Jakarta offering luxury rental apartments