What happened
Colliers Indonesia has published its third-quarter 2026 property review, putting the average apartment price in Jakarta at Rp 36 million per square metre. The consultancy presented the data at an online media briefing on October 7, and detikProperti broke down the numbers on October 8.
detikProperti also worked out what a luxury studio would cost. Few luxury buildings offer them, and those that do tend to be larger than studios elsewhere, typically 30 to 50 square metres. At average luxury prices, that means a budget of roughly Rp 2.1 to 3.5 billion.
Sticker price versus what buyers actually pay
Ferry Salanto, who heads research at Colliers Indonesia, said buyers should separate the asking price from the effective acquisition cost. Developers are offering a range of incentives, so the final bill can differ meaningfully from the brochure.
He listed several of them: PPN DTP, a scheme under which the government covers VAT on home purchases, subsidised mortgage signing fees, several months of free building maintenance charges and units sold already furnished. The brochure may still say Rp 36 million per square metre, Salanto noted, but the money a buyer really spends can be noticeably lower once all of this is counted.
How Jakarta buyers pay
Bank mortgages, known locally as KPR, remain the main route. They accounted for 47% of apartment purchases, a share that rose by 4% compared with the previous quarter.
About 29% of buyers paid in full with cash, and around 24% used instalment plans offered by developers. In other words, most purchases in the capital rely on some form of credit or staged payment.
Salanto singled out access to financing as an important factor for future sales, and named mortgage rates among the costs the mid-market is most sensitive to.
Reputation at the top, price in the middle
Salanto sees a clear split between segments. At the upper end, the credibility of the developer increasingly decides the sale. Mid-market buyers are more sensitive to affordability, the VAT incentive, transaction costs and mortgage rates.
Caution is rising for a reason. National and local governments are pushing high-rise housing in city centres, so supply keeps growing, yet Indonesia has a long list of apartment projects that stalled or were abandoned. Many buyers now prefer completed buildings and look closely at transport links and price. Colliers expects sales to improve, but says the market will become more selective, rewarding projects with the right location, price, access and on-time delivery.
What it means for Bali
Bali and Jakarta sell different products. In Jakarta, nearly half of apartment purchases use a local mortgage. Foreign buyers in Bali typically acquire villas on leasehold (Hak Sewa, a long-term land lease) and pay without Indonesian bank financing.
Still, the Colliers findings translate well. Premium buyers pay for a developer they can trust, and stalled projects make everyone more careful. On the island this risk is sharper, because foreigners often pay a builder in stages before completion. The gap between list price and real cost is familiar too: discounts and bonuses only matter once they are converted into the final amount you transfer.