DKI Jakarta is known to have several reclaimed lands and islands. Recently, a new city project ‘suddenly’ appeared on the outskirts of Jakarta. The project is known as Pantai Indah Kapuk or PIK 2. In fact, the price of land there has almost penetrated Rp. 40 million/meter.
The price of land in reclamation areas such as Pantai Indah Kapuk (PIK) has indeed continued to soar throughout the year, even surpassing land prices in several capital cities, such as Kelapa Gading and Bintaro.
“For the cheapest land price in PIK it can reach Rp 20 million, the most expensive can be around Rp 40 million for commercial land. Meanwhile, in Bintaro and Kelapa Gading it is Rp 30-35 million per square meter for commercial land,” said the Chairman of the Association’s DPP. Real Estate Broker Indonesia (AREBI) DKI Jakarta Clement Francis, reported by CNBC Indonesia, Wednesday (6/4/2022).
Francis also explained the advantages of the PIK area. According to him, the area still has a very large land bank, while Kelapa Gading and Bintaro are already limited. Moreover, the latest infrastructure continues to be built by developers and the government, so land prices have the potential to continue to grow.
“If the prediction is difficult, anything can happen if a market is formed, any analyst will not be able to predict land prices, only at least conservatively it will grow by 10% – 15%. In PIK there are still a lot of land banks, so development is continuing,” said Clement.
This year, the broker is optimistic that property sales will surge seeing the increased confidence. Moreover, for the past two years, people have also withheld investment due to the pandemic, so now he thinks the time is right.
It is known from the marketing advertisement at the location, the price of land plots in the PIK 2 area, Tangerang, on the outskirts of Jakarta, is priced at Rp. 36 million per square meter. Of course, the land which is partially reclaimed by the beach is very far from the price of the surrounding area.
According to community leaders, Kosambi Tangerang, the NJOP of land in the area is Rp 600 thousand per meter, but the market price can reach Rp 1.5 million per square meter. “It’s already expensive here, the land market is above Rp 1.5 million per m2,” he said.
Even the DKI Provincial Government calculated that several years ago the cost for reclamation in Jakarta was ‘only’ Rp 6 million per meter, of course, very much cheaper than the price sold by developers in the market.
