Jakarta offers more choices in apartments
Jakarta offers more choices in apartments
As the ravaged rupiah starts to gradually recoup its losses and nudge its way back to strength, the choice of apartments in the capital, and their affordability, are now probably greater than ever.
According to a report by property consultant First Pacific Davies-Indonesia, apartment supply in the Central Business District (CBD) increased during the third quarter of 1998. Among the new additions was Tower B of Apartemen Plaza Senayan, which came on stream offering 108 apartments for lease or service.
Total supply for the CBD is currently 9,400 apartments, with more expected to become available by year's end. However, some apartments owned by failed banks have stopped advertising and are under observation by the Indonesian Bank Restructuring Agency, First Pacific Davies said.
There was a further reduction in rental rates and prices during the third quarter, a trend which is expected to continue until the end of the year.
In the CBD, rental rates for apartments average US$15 per square meter for upper class and $8 per square meter for middle class, compared to $23 and $15 respectively before the crisis hit the country in July 1997.
Upper-class serviced apartments are more stable at $20 per square meter, compared to the precrisis average of $26.
In secondary areas, rental rates for upper-class serviced apartments fell to $9 per square meter, since most of the apartments provided a fixed rupiah-dollar exchange rate of 7,500 and discounts of up to 40 percent. This compares to $22 before the crisis and $14 during the second quarter of this year.
The property consultant noted that some tenants in serviced apartments in secondary areas have moved to the CBD because their dollar budget is now within the falling rental rates.
Although occupancy rates of leased and serviced apartments remained in a downward mode, there was a 3 percent incremental increase for the latter in the third quarter.
Apartmen Plaza Senayan is just one of the many diverse types of apartments available which can satisfy even the most finicky of prospective buyers or renters.
Apartmen Plaza Senayan boasts its convenient location, huge parking area, sports facilities and the Plaza Senayan shopping mall on its doorstep.
Also ideally located in the heart of the CBD is Kempinski Hotel Plaza, its site straddling the strategic areas of Jl. Sudirman and Kuningan. Its unique attraction is apartment living with the services offered by the five-star Kempinski Hotel in the same tower.
Apartmen Golf Pondok Indah is a golf lover's paradise, situated in the exclusive Jakarta suburb of the same name and just a stone's throw from superb links. It is within easy reach of shopping centers and connecting roads to downtown Jakarta.
Looking for something a little off the beaten track of traffic jams and crowded communities but only minutes away from the city's heartbeat?
Country Woods Estates in Bintaro, South Jakarta, is pleasant, tranquil living in a self-contained and secure community. It is within easy access of major thoroughfares but far enough away that residents feel they have discovered a refuge from the toil of city life.
Outside of Jakarta, one of the most respected properties is the Graha Residen in Surabaya, with full service facilities in the center of the country's second largest city.