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Learn more about the Indonesia apartment market through trends and average prices.
Home to more than 267 million people, Indonesia is the fourth most populous country in the world. This Southeast Asian nation is also the world’s largest island country, having a total number of 17,508 islands, 6000 of which are inhabited. Given its big size and huge population, it is no wonder that Indonesia is very diverse. It has more than 300 ethnicities, over 700 native languages, two flora, and fauna realms, as well as a wide range of landscapes. The country’s diversity makes it one of the most unique and exotic destinations in the world.
In recent years, tourism in Indonesia is flourishing. The country offers everything any visitor can imagine, from tranquil beaches and active volcanoes, tropical rainforests, and deserts, to ancient temples and extravagant malls. In addition, Indonesia’s relatively low cost of living and relaxed pace of life have captivated the hearts of thousands of expats around the world to relocate to this country.
Due to the number of tourists and expats coming into the country, the property market is growing. Expats who plan to work in the country for a few years usually prefer renting than buying. Therefore, the demand for apartments is high and more apartment buildings are been developed.
As the main tourism destination, Bali is the most popular area in Indonesia that sits at the westernmost of the Lesser Sunda Islands. It attracts more than 5 million tourists every year. This beautiful island is perfect for those who want to experience a tropical paradise life. It is filled with palm tree-lined beaches, clear blue waters, amazing surfing spots, beautiful waterfalls, jungle-covered mountains, and stunning rice terraces. Besides its natural beauty, Bali is also teeming with enthralling culture, spiritual energy, and magnificent temples. At night, visitors can enjoy the island’s vibrant nightlife in Seminyak, Sanur, Kuta, or Legian areas. Those who want to try amazing food or spend their time in trendy cafes usually flock to Canggu, Ubud, or Seminyak.
Not too far from Bali, still, a part of the Lesser Sunda Islands chain is Komodo National Park. It is one of the 7 New Wonders of Nature that is made up of three main islands, including Komodo Island, Rinca, and Padar. These three islands are collectively home to more than 5,000 endangered Komodo Dragons, as well as other terrestrial fauna. Those who want to see Komodo Dragons in their natural habitat from up close can visit the UNESCO-listed Komodo Island. It is also home to one of seven Pink Beaches in the world that will surely take your breath away.
Jakarta, the capital city of Indonesia, is also a popular area. It is mostly known for its luxury shopping malls and lively nightlife, but there are also some amazing tourist destinations in the city, such as Monas (the National Monument), Kota Tua (Old Town), and the Thousand Islands (Kepulauan Seribu).
Besides Jakarta, the Special Region of Yogyakarta is also popular among tourists. This region is the only region that officially recognizes the monarchy. Many people come to this region for its cultural landmarks, including the Royal Palace, Taman Sari Water Castle, Prambanan Temple, and Borobudur Temple.
There are numerous different types of apartments in Indonesia. High-rise apartment buildings are mostly located in big cities, such as Jakarta, Medan, Bandung, Surabaya, and Makassar. In Bali and Yogyakarta, only mid-rise and low-rise apartments are available since the maximum height of buildings in these areas are 15 meters (in Bali) and 16 meters (in Yogyakarta).
Apartments in Indonesia usually have a modern design and are available with Western amenities. This is because most apartments in the country are made for wealthy Indonesians and foreigners. The apartments usually have swimming pools, gyms, kid’s playgrounds, clubhouses, and spacious parking spaces. They may also have a variety of unit sizes, ranging from studio rooms to penthouses. Studio rooms are the smallest type, with only one room (that acts as the bedroom, living room, and kitchen) and a bathroom. Penthouses are usually available on top of luxury apartment buildings, have more space, and are the most expensive. The apartments may be or not furnished. Most furnished apartments come with top-quality appliances and furniture.
The standard of living in Indonesia, particularly in its big cities and tourism areas, has increased dramatically in the last couple of decades. However, the cost of living is still relatively affordable. The official currency is the Indonesian Rupiah (Rp). The exchange rate from US$1 is around Rp14, 000, which is very favorable for many foreigners coming from Western countries, allowing them to live luxuriously for very little. The minimum monthly salary for a family to live comfortably is around Rp20, 000,000 (US$1,400), but most expats living and working in the country earn much more than this amount.
While there are 700 native languages in Indonesia, the national language that is spoken by all of its citizens is Bahasa Indonesia. English is starting to become more and more widely spoken, particularly in major cities and tourist areas. However, English is not spoken in rural areas, so it is advisable to learn some common phrases before visiting.
Islam is the largest religion in Indonesia, with more than 87% of the population adhere to this religion. However, the nation recognizes others besides Islam, including Christianity, Hinduism, Buddhism, and Confucianism.
The weather in Indonesia is warm throughout the year, with an average temperature of around 23°C to 28°C. The country has two seasons, including wet and dry season. The wet season starts in November and ends in May. It brings humid weather with lots of rainfall. The dry season runs from June to October, characterized by pleasant weather and less rain.
To live or stay in Indonesia for an extended period of time, foreigners must apply for a visa. Numerous different types of visas are available, but most expats obtain temporary residence permit visa or KITAS, which is valid for 6 to 12 months.
The weather in Indonesia is warm throughout the year, with an average temperature of around 23°C to 28°C. The country has two seasons, including wet and dry season. The wet season starts in November and ends in May. It brings humid weather with lots of rainfall. The dry season runs from June to October, characterized by pleasant weather and less rain.
To live or stay in Indonesia for an extended period of time, foreigners must apply for a visa. Numerous different types of visas are available, but most expats obtain temporary residence permit visa or KITAS, which is valid for 6 to 12 months.