East Jakarta has been earmarked for development thanks to infrastructure and lower price tags.
Jakarta’s development has traditionally been focused in the centre and south of the capital. Residential and commercial schemes have been springing up and even the western side of this throbbing metropolis has undergone significant development too. That has left the East Jakarta behind simple due to a lack of demand. However this could be about to change.
This area of Jakarta is at the receiving end of several infrastructure projects. Developers have been quick to piggy back on this success and take advantage of the lower land prices. Currently at IDR 7.9 million per square metre as opposed to IDR 18.7 million in Central Jakarta, IDR 17.1 million in the south and IDR 13.2 million in West Jakarta.
Unsurprisingly land prices have naturally risen in East Jakarta. In fact at rate higher than any other region of the city. The abundance of land in East Jakarta also offers a different kind of development too. Due to high values in other areas of the city, developers have no choice other than to build upwards to be financially feasible.
Eastern Jakarta is not tied to these restrictions. The area might rapidly undergo a huge transformation, but it is unlikely that the skyline will alter vertically. Plus the extra space prime for development will permit the development of housing projects too. Welcome news to the number to the resident of Cikampek who make up the largest proportion of workers commuting to Jakarta daily.
Indonesia property is continually performing well. In turn more Indonesians are turning to property as an investment and the opening up of East Jakarta will provide a more affordable option for many people. Investors should take heed as this part of the city is clearly mapped out as the next property hotspot.
