Strata condominium market in Jakarta remained to experience sluggish performance with a slower pre-sales and minimal price growth. Developers faced weak demand and financing difficulties, leading to lesser condo project launches and further delays.

With the completion of six towers coming from five projects totaling 2,922 units during the second half of 
2023, the cumulative total supply increased slightly by 1.2% to 239,606 units. The middle segment continued to dominate the existing supply at 42.1% and the majority of existing condominium stock was located in South Jakarta (30%) and a limited number in East Jakarta (12%).