Indonesia Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Indonesia's Real Estate Market Report is Segmented by Property Type (Residential, Office, Retail, Hospitality, and Industrial) and Location (Jakarta, Bali, and the Rest of Indonesia). The Report Offers Market Size and Forecasts in Terms of Value (USD) for all the Above Segments.

Indonesia Real Estate Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Indonesia Real Estate Market Size

Indonesia Real Estate Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 68.55 Billion
Market Size (2030) USD 90.96 Billion
CAGR (2025 - 2030) 5.82 %
Market Concentration Low

Major Players

Indonesia Real Estate Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Indonesia Real Estate Market Analysis

The Real Estate Market In Indonesia Market size is estimated at USD 68.55 billion in 2025, and is expected to reach USD 90.96 billion by 2030, at a CAGR of 5.82% during the forecast period (2025-2030).

Indonesia's real estate sector has emerged as a cornerstone of economic development, with official figures from Statistics Indonesia showing that GDP contribution from real estate activities reached IDR 488.31 trillion (USD 31 billion) in 2022. The sector's growth is being driven by rapid urbanization, population growth, and improved macroeconomic policies implemented over the past decade. The government's proactive approach through initiatives like the 'One Million Houses' (OMH) program has been instrumental in addressing housing demands, with approximately 634,132 housing units recorded until August 2023 under the program. These developments are complemented by support from foreign investors and international organizations like the World Bank, which are actively participating in affordable housing projects across the country.


The Indonesian real estate market is witnessing a significant digital transformation through the emergence of PropTech solutions. The first wave of PropTech innovation has been particularly focused on addressing the needs of the growing middle-class population, with platforms primarily concentrating on property search, purchase, and leasing services. This digital evolution is reshaping traditional real estate transactions, making them more efficient and accessible to a broader segment of the population. The integration of technology has also led to the development of smart and sustainable properties, exemplified by projects like the Transit-Oriented Development (TOD) in BSD City, which combines residential, commercial, and public transport infrastructure in a digitally connected environment.


The industrial and logistics sector has become a crucial component of Indonesia's real estate landscape, particularly in the Greater Jakarta area. The market has seen substantial development in modern warehouse facilities, driven by the explosive growth of e-commerce and the need for sophisticated logistics infrastructure. The average occupancy rate of warehouses for lease in the Greater Jakarta area has maintained strong performance, with demand primarily coming from logistics-related firms, including e-commerce and consumer goods companies. This trend is supported by significant investments from both domestic and international developers who are racing to build integrated modern logistics properties.


Foreign investment continues to play a pivotal role in shaping Indonesia's real estate market, with international developers and institutional investors showing increased interest in various property segments. The market has attracted significant capital inflows, particularly in the development of industrial estates, logistics facilities, and mixed-use developments. Major international real property groups are actively expanding their presence in the country, recognizing Indonesia's potential as a key investment destination in Southeast Asia. This international interest is further bolstered by the government's efforts to improve the ease of doing business and develop supporting infrastructure, creating a more attractive environment for foreign real estate investment in the real estate development sector.

Segment Analysis: By Property Type

Residential Segment in Indonesia Real Estate Market

The residential real estate segment continues to dominate Indonesia's real estate market, commanding approximately 53% market share in 2024. This segment's strong performance is driven by Indonesia's growing middle-class population, urbanization trends, and government initiatives supporting affordable housing development. The implementation of the FLPP (Liquidity Facility for Cheap Housing) regulation has been particularly influential in boosting the subsidized housing sector across Indonesia, helping address the significant housing backlog of 15 million units. In Jabodetabek alone, the demand for new residential real estate units remains robust at around 200,000 units per year, with the primary housing market accounting for approximately 100,000 units annually. The segment has shown remarkable resilience, with high-end and mid-range apartment projects experiencing strengthened sales compared to the overall market.

Market Analysis of Real Estate Market In Indonesia: Chart for By Property Type

Retail Segment in Indonesia Real Estate Market

The retail property segment has emerged as one of the most dynamic sectors in Indonesia's real estate market, with projections indicating strong growth of approximately 8% during 2024-2029. This growth is primarily driven by the rapid expansion of modern retail property formats and shopping centers across major Indonesian cities. The segment's evolution is characterized by increasing adoption of mixed-use developments, integration of digital technologies, and innovative retail concepts. The construction of new shopping malls, outlets, and retail establishments continues to accelerate, influenced by improving community mobility, long-term business ambitions, and the emergence of new industrial regions. The retail sector's transformation is further supported by the growing presence of international brands and the increasing sophistication of Indonesian consumers.

Remaining Segments in Property Type Market

The office space, hospitality, and industrial real estate segments each play vital roles in Indonesia's commercial real estate market landscape. The office space segment continues to evolve with the changing nature of work, incorporating more flexible and modern workspace solutions to meet contemporary business needs. The hospitality segment is experiencing significant transformation through the integration of digital technologies and sustainable practices, while the industrial real estate segment is benefiting from increased foreign direct investment and the expansion of e-commerce operations. These segments are particularly concentrated in key economic zones such as Jakarta, Surabaya, and Bali, contributing to the overall diversification and maturity of Indonesia's commercial real estate market.

Indonesia Real Estate Industry Overview

Top Companies in Indonesian Real Estate Market

The Indonesian real estate market is characterized by significant product innovation and strategic expansion initiatives across residential, commercial, and industrial segments. Companies are increasingly adopting technological solutions, including property management platforms, digital signing capabilities, and data analytics, to streamline operations and enhance customer experience. Major players are focusing on developing integrated townships, smart city projects, and modern logistics facilities to capitalize on urbanization trends. Strategic partnerships, particularly in the industrial and logistics segments, have become prevalent as companies seek to strengthen their market position. The sector has witnessed considerable operational transformation with firms embracing proptech solutions, online real estate services portals, and digital marketing strategies to reach a wider customer base.

Market Dominated by Local-Global Partnership Model

The Indonesian real estate market structure exhibits a unique blend of established local conglomerates and international investors forming strategic alliances. Major local developers like Lippo Group maintain strong market positions, while international players such as LOGOS Property, ESR, and DP World are increasingly entering through joint ventures and strategic partnerships. The market has seen significant consolidation in the logistics and industrial segments, with sovereign wealth funds and pension funds from Singapore, Canada, and the Middle East forming partnerships with local entities to develop modern facilities.


The market demonstrates a growing trend of cross-border collaborations, particularly in developing specialized assets like data centers, logistics parks, and modern warehousing facilities. Companies like Pure Data Centres, Alpha Investment Partners, and CPP Investments have established a significant presence through local partnerships, indicating the market's openness to foreign expertise and capital. The industrial and logistics segments have witnessed particularly strong consolidation through joint ventures and strategic alliances, while the residential segment remains relatively fragmented with a mix of local and regional developers.

Innovation and Adaptability Drive Future Success

Success in the Indonesian real estate market increasingly depends on companies' ability to adapt to changing consumer preferences and technological advancements. Developers focusing on integrated developments with smart features, sustainable design elements, and modern amenities are likely to gain a competitive advantage. The ability to leverage proptech solutions, develop online platforms, and provide digital-first customer experiences has become crucial for market success. Companies that can effectively combine traditional real estate development expertise with technological innovation while maintaining strong local relationships are better positioned to capture market opportunities.


Future market leadership will require firms to demonstrate strong capabilities in sustainable development, digital transformation, and strategic partnership management. Companies need to focus on developing specialized expertise in emerging segments like data centers, modern logistics facilities, and smart residential projects. Success factors include the ability to navigate regulatory requirements, maintain strong relationships with local authorities, and adapt to evolving customer preferences. Firms that can effectively manage end-user relationships while maintaining operational flexibility and innovation capabilities will be better positioned to capture market opportunities and maintain a competitive advantage.

Indonesia Real Estate Market Leaders

  1. PT Intiland Development Tbk

  2. Tokyu Land Indonesia

  3. Agung Podomoro Land

  4. Ciptura Group

  5. Sinar Mas Land

  6. *Disclaimer: Major Players sorted in no particular order
Indonesia Real Estate Market Concentration
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Indonesia Real Estate Market News

November 2023: Ciputra Group successfully launched its newest CitraLand City Sampali Kota Deli Megapolitan project in Medan. CitraLand City Sampali City Deli Megapolitan was developed by Ciputra Group together with KPN Group, in collaboration with PT Perkebunan Nusantara 2.

September 2023: Tokyu Land Indonesia conducted the Topping Off ceremony for BRANZ Mega Kuningan. BRANZ Mega Kuningan Project is the third premium condominium development after BRANZ Simatupang and BRANZ BSD. The Topping Off ceremony, a significant milestone for TLID, was successfully held. During its introduction to the public, this project has already garnered attention from consumers interested in condominiums in Jakarta.

Indonesia Real Estate Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Deliverables
  • 1.2 Study Assumptions
  • 1.3 Scope of the Study

2. RESEARCH METHODOLOGY

  • 2.1 Analysis Methodology
  • 2.2 Research Phases

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Policies and Regulations
  • 4.3 Insights into Interest Rate Regime for General Economy, and Real Estate Lending
  • 4.4 Insights into Real Estate Tech and Startups Active in the Real Estate Segment
  • 4.5 Insights into Capital Market Penetration and REIT Presence in Residential Real Estate
  • 4.6 Real Estate Buying Trends - Socioeconomic and Demographic Insights
  • 4.7 Impact of COVID-19 on the Market
  • 4.8 Value Chain/Supply Chain Analysis

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Growing Population
    • 5.1.2 Increase in Demand for Residential Real Estate
  • 5.2 Market Restraints
    • 5.2.1 Increase in Costs
  • 5.3 Market Opportunities
    • 5.3.1 Tourism-related Real Estate
  • 5.4 Industry Attractiveness - Porter's Five Forces Analysis
    • 5.4.1 Threat of New Entrants
    • 5.4.2 Bargaining Power of Buyers/Consumers
    • 5.4.3 Bargaining Power of Suppliers
    • 5.4.4 Threat of Substitute Products
    • 5.4.5 Intensity of Competitive Rivalry

6. MARKET SEGMENTATION

  • 6.1 By Property Type
    • 6.1.1 Residential
    • 6.1.2 Office
    • 6.1.3 Retail
    • 6.1.4 Hospitality
    • 6.1.5 Industrial
  • 6.2 By City
    • 6.2.1 Jakarta
    • 6.2.2 Bali
    • 6.2.3 Rest of Indonesia

7. COMPETITIVE LANDSCAPE

  • 7.1 Market Concentration Overview
  • 7.2 Company Profiles
    • 7.2.1 PT Intiland Development Tbk
    • 7.2.2 Tokyu Land Indonesia
    • 7.2.3 Agung Podomoro Land
    • 7.2.4 Ciptura Group
    • 7.2.5 Sinar Mas Land
    • 7.2.6 PP Properti
    • 7.2.7 Lippo Group
    • 7.2.8 Trans Property
    • 7.2.9 Agung Sedayu Group
    • 7.2.10 PT. Pakuwon Jati Tbk*
  • *List Not Exhaustive
  • 7.3 Other Companies

8. MARKET OPPORTUNITIES AND FUTURE TRENDS

9. APPENDIX

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Indonesia Real Estate Industry Segmentation

The real estate sector includes various phases of property dealings, such as developing, selling, buying, leasing, and management processes in the industrial sector, residential sector, etc. A complete background analysis of the Indonesian real estate market, including the assessment of the economy and contribution of sectors in the economy, market overview, market size estimation for key segments, and emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.

The market is segmented by property type (residential, office, retail, hospitality, and industrial) and city (Jakarta, Bali, and the rest of Indonesia). The report offers market size and forecasts for the real estate market in Indonesia in value (USD) for all the above segments.

By Property Type Residential
Office
Retail
Hospitality
Industrial
By City Jakarta
Bali
Rest of Indonesia
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Indonesia Real Estate Market Research FAQs

How big is the Real Estate Market In Indonesia Market?

The Real Estate Market In Indonesia Market size is expected to reach USD 68.55 billion in 2025 and grow at a CAGR of 5.82% to reach USD 90.96 billion by 2030.

What is the current Real Estate Market In Indonesia Market size?

In 2025, the Real Estate Market In Indonesia Market size is expected to reach USD 68.55 billion.

Who are the key players in Real Estate Market In Indonesia Market?

PT Intiland Development Tbk, Tokyu Land Indonesia, Agung Podomoro Land, Ciptura Group and Sinar Mas Land are the major companies operating in the Real Estate Market In Indonesia Market.

What years does this Real Estate Market In Indonesia Market cover, and what was the market size in 2024?

In 2024, the Real Estate Market In Indonesia Market size was estimated at USD 64.56 billion. The report covers the Real Estate Market In Indonesia Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Real Estate Market In Indonesia Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Real Estate Market In Indonesia Research

Mordor Intelligence provides a comprehensive analysis of the real estate sector in Indonesia. We leverage our extensive expertise in property management and market research. Our detailed report covers all aspects of the market, from residential real estate to commercial real estate. This includes segments such as office space, industrial real estate, and retail property. The analysis encompasses both urban real estate and suburban real estate developments. It examines trends in construction, land development, and real estate development activities. Our research evaluates affordable housing initiatives, luxury real estate projects, and multifamily housing developments. Stakeholders can access actionable insights in an easy-to-read report PDF format available for download.

The report offers invaluable guidance for stakeholders involved in real estate investment, property acquisition, and real estate services. We provide a detailed analysis of REIT performance, mortgage trends, and rental property opportunities. Additionally, we examine the dynamics of real estate leasing and real estate sales. Our comprehensive coverage includes emerging trends in apartment markets, vacation property segments, and real property valuations. The report delivers strategic insights for professionals engaged in real estate services. It supports informed decision-making across the entire spectrum of Indonesia's property sector, from property management to investment strategies.