The industrial land price per sqm in Indonesia averaged IDR 3,053,000 across Greater Jakarta in the second quarter of 2026, with Tangerang the dearest corridor at about IDR 3,441,667 and Subang and Serang the cheapest at IDR 2,200,000, according to Cushman & Wakefield’s Q2 2026 MarketBeat. That answers the search. It also conceals most of what decides the price of a particular plot — starting with the fact that much of the reported increase is currency movement rather than a change in what the land is worth.
A headline number is only useful if you know what it is a number of. These are asking prices for serviced land inside industrial estates, quoted before tax and service charge. The short version:
Greater Jakarta averaged IDR 3,053,000 per sqm in Q2 2026, reported as up 11.3% year on year
Tangerang about IDR 3.44m, Bekasi IDR 3.21m, Karawang and Purwakarta IDR 2.80m, Bogor IDR 2.30m, Subang and Serang IDR 2.20m
Cushman & Wakefield attributes the rise partly to the weakening rupiah, because most estates price in US dollars
Quotes exclude Value Added Tax and the estate service charge
Most consultancies fold Cikarang into Bekasi rather than reporting it separately
Industrial land price per sqm in Indonesia: the Q2 2026 corridor figures
These come from Cushman & Wakefield’s Greater Jakarta Industrial MarketBeat for Q2 2026, which also puts total inventory at 16,689 hectares and quarterly take-up at 37.9 hectares.
Two absences matter. Karawang and Purwakarta are reported as one corridor, so a standalone Purwakarta figure does not come from this source. And most firms fold Cikarang into Bekasi, since Cikarang sits inside Bekasi Regency. CBRE is the exception, reporting average transacted Cikarang prices above IDR 3.3 million per sqm in Q1 2026 — transacted, so not directly comparable with asking prices. Our Cikarang estate guide and Bekasi overview work at estate level for that reason.
Note too that the average sits above four of the six corridors. It is a stock-weighted indicator, not a midpoint: a seller in Serang or Subang benchmarking against it will overprice by nearly 40%.
Why an 11.3% rise is not an 11.3% gain
This is the part most coverage omits, and it comes from the research firm itself. Cushman & Wakefield states that the upward trend “was supported by the weakening Rupiah as most projects are still priced at USD which then are converted to Rupiah at the market exchange rate.”
Estates quote in dollars and translate at the prevailing rate, so when the rupiah weakens the rupiah price rises without the dollar price moving at all. Some of the 11.3% is real repricing, some is exchange rate, and nobody publishes the split.
The consequence is specific. A rupiah-earning seller benchmarking against a rupiah series is pricing in growth that partly belongs to the currency. Switching to Colliers, which publishes the Greater Jakarta average in dollars — USD 181.59 per sqm in Q1 2026 — does not escape the problem, it moves it to the other side.
Asking price is not transaction price
Every Cushman & Wakefield and Colliers figure above is an asking price. Colliers made the point explicitly in its Q1 2026 commentary, noting that increases “remain indicative and are reflected more in asking prices than fully realized transaction values.”
There is no systematic published spread between the two. But CBRE’s transacted Cikarang figure of over IDR 3.3 million sits above Cushman & Wakefield’s IDR 3.05 million Bekasi asking price for the same quarter — a reminder that in the tightest sub-markets deals can clear above the benchmark, not below it. Treat benchmarks as orientation, and ask what recent deals in the same estate settled at.
Where the firms disagree
Consultancies track different estate universes and count at different moments. Take-up for Q1 2026 was put at 23.3 hectares by Savills, 68 by Cushman & Wakefield and about 90 by Colliers — a near-fourfold spread for the same three months, depending on whether a firm counts signed agreements or completed transfers.
Bogor is the sharpest example on price. Cushman & Wakefield has it at IDR 2.30m; Knight Frank has published higher figures, but its latest industrial overview dates from H2 2023, so the two are not the same vintage. Cite the firm and the quarter with any number.
What a per-sqm quote leaves out
Estate quotes are generally exclusive of Value Added Tax and of the estate service charge, but many land listings give a bare rate without stating the treatment at all — which is why you have to ask rather than assume.
The service charge, often called BPPL, is contractual rather than regulated. Each estate sets its own and discloses it in the estate rules and the sale or lease agreement. PP 142/2015 Pasal 4(i) empowers only the Minister of Industry to issue a reference guideline on plot and building prices — a reference, not a cap. No national service charge benchmark exists, so ask for the figure and what it funds before you sign, and read it against the estate’s facilities and utilities commitments.
Minimum plot sizes also shape the effective price, and are set estate by estate rather than by convention — MM2100 in Cikarang publishes a minimum of about 2,000 sqm. Ask for the specific floor, because a small requirement may not be servable at the quoted rate at all.
Where the growth actually happened
Growth has been uneven, and the pattern is about supply. Comparing Cushman & Wakefield’s Q2 2025 and Q2 2026 figures, Subang rose from IDR 1.90m to IDR 2.20m, roughly 16%. Karawang and Purwakarta rose from IDR 2.45m to IDR 2.80m, about 14%. Bekasi rose from IDR 3.00m to IDR 3.21m, about 7%. Serang was unchanged.
Subang’s move is worth reading precisely: it held at IDR 1.90m through the end of 2025, stepped up in a single quarter, then stayed there. That is a one-off repricing, not a gathering trend.
Demand has been pushing east as mature corridors tighten. Colliers notes occupiers looking increasingly eastward as supply shrinks in Bekasi and Karawang, and logged 22 hectares taken up at Jatiluhur Industrial Smart City in Purwakarta in one quarter.
Subang carries a further story. The Patimban container terminal began operations in July 2026 with a first export sailing to China, relieving a congested Tanjung Priok. But its dedicated access toll road is targeted for completion only in Q3 2027; until then transit runs one and a half to two hours on existing roads. Anyone paying a Subang premium for port proximity today is buying a 2027 benefit.
Estate land versus land outside an estate
Land outside an industrial estate is cheaper. How much cheaper is not a number anyone can honestly give: no consultancy publishes a raw-land price series for Indonesian industrial corridors, and Zona Nilai Tanah and NJOP are assessed tax values, not market comparators.
What is documented is what the gap conceals. A company inside an estate can usually avoid commissioning its own AMDAL: under PP 22/2021 it prepares a detailed RKL-RPL derived from the estate’s own environmental documents and submits it to the estate manager, whose approval serves as the environmental prerequisite for its business licence. That shortcut applies only if your planned activity falls within the scope of the estate’s existing AMDAL. If your process, sector or capacity is not covered, the estate must first obtain an addendum to its AMDAL before you can file anything — a delay you may end up funding. Ask in writing whether your specific activity is covered as the document stands.
Then there is zoning. Land outside an estate may not carry the right spatial designation, which puts you into the KKPR process and, where the land is agricultural, into conversion of a greenfield site. Add roads, drainage, wastewater treatment, substation capacity and water supply — none with published unit costs, all real. CBRE expects well-serviced estates to outperform newer or less integrated developments on price growth, which suggests the serviced-land premium is widening.
What warehouse rents reveal
Warehouse rents in Greater Jakarta averaged IDR 81,795 per sqm per month in Q2 2026, occupancy 91.9%. Against roughly IDR 79,621 a year earlier, that is under 3% — far slower than the reported land price rise.
That divergence matters. Land is repricing faster than the income the buildings on it generate, compressing yields for anyone buying to lease out rather than occupy. Some of the gap is the currency effect above; some is genuine scarcity in land that does not exist in built space.
Industrial land lease rates are a separate question, and no major consultancy publishes a series for Indonesia. Figures circulating online come from broker listings with no stated sample.
Five mistakes when comparing industrial land prices
Citing a table without its vintage. One widely reproduced dataset is labelled Q4 2025 but carries its own publisher’s note that the values are as of Q2 2024, because there were no primary market transactions in the later quarter.
Reading a rupiah increase as pure appreciation. Most estates price in dollars, so part of any rupiah rise is exchange rate.
Comparing an estate quote to a non-estate quote. Different products, different cost structures behind them.
Treating an asking price as a settled price. It is where estates are pitching, not necessarily where deals close.
Assuming the quote is all-in. Tax, service charge and connection costs sit on top, and the transfer taxes sit on top of that.
A checklist before you accept a per-sqm quote
Ask which quarter and firm the benchmark comes from, and whether the estate prices in rupiah or dollars. Confirm whether VAT and service charge are included, and get the service charge in writing. Establish whether the land is serviced and ready to build, and check the minimum plot size against your requirement. Confirm in writing that your activity falls within the estate’s existing environmental approval. Verify title and remaining term through land due diligence, and if you are buying through a foreign-invested company, confirm what land rights a PT PMA can hold. Finally, ask what comparable plots in the same estate transacted at.
Price is one input among several. Savills reported regulatory delays on power substations holding back activity even where demand from semiconductor, electronics and data centre operators was strong. A cheaper plot with no confirmed substation capacity is not actually cheaper.
Where to go next
Benchmarks give you a range; a plot gives you a price. Our guide to industrial land in Indonesia sets out how location, title and permitting interact, and the estate comparison page covers what a per-sqm figure cannot show.
Frequently asked questions
What is the average industrial land price per sqm in Indonesia in 2026?
Cushman & Wakefield put the Greater Jakarta average at IDR 3,053,000 per square metre in Q2 2026. That covers asking prices for serviced land inside industrial estates in the Greater Jakarta corridors — not the whole country, and not land outside estates.
Which industrial corridor is the most expensive?
Tangerang, at about IDR 3.44 million per sqm in Q2 2026, followed by Bekasi at IDR 3.21 million. Subang and Serang were the lowest reported at IDR 2.20 million. Bogor figures vary considerably between firms, partly because different consultancies sample different estates and publish at different times.
Did industrial land really get 11% more expensive in a year?
Not entirely. Cushman & Wakefield reports an 11.3% year-on-year rise but attributes part of it to the weakening rupiah, since most estates price in US dollars and convert at the market rate. Some of the increase is repricing and some is currency, and the split is not published.
Why can’t I find a separate price for Cikarang?
Cikarang sits within Bekasi Regency and most consultancies fold it into their Bekasi line. CBRE is the exception, reporting transacted Cikarang prices above IDR 3.3 million per sqm in Q1 2026 — but that is a transacted figure and is not directly comparable with the asking prices other firms publish.
Does the quoted price include tax?
Usually not. Estate quotes are generally exclusive of Value Added Tax and of the estate service charge, and acquisition taxes and registration fees sit on top of both. Many listings simply do not state the treatment, so confirm it in writing before comparing two quotes.
How much cheaper is land outside an industrial estate?
No consultancy publishes a raw-land price series for Indonesian industrial corridors, so any precise discount percentage you see has been invented. What is documented is what the discount conceals: outside an estate you commission your own environmental assessment, and you fund roads, drainage, wastewater treatment, water and substation capacity yourself.
Should I pay the premium for a mature corridor?
It depends what the premium buys in your case. Mature corridors offer existing infrastructure, established estate management and proven power supply. Frontier corridors cost less at entry but may depend on infrastructure still being built, such as the Patimban access road due in 2027. The answer turns on your build timeline and utility requirements rather than on the headline rate.
Benchmarks tell you what a corridor is asking; only a specific plot tells you what it will cost. Yardzeal works with owner-direct industrial and commercial land across the Greater Jakarta corridors, which means current, plot-level pricing rather than a published range. Browse available listings at Yardzeal to see what is on the market in the corridor you are considering.