Authored by the expert who managed and guided the team behind the Indonesia Property Pack
Everything you need to know before buying real estate is included in our Indonesia Property Pack
Understanding property prices per square meter in Makassar is crucial for any real estate decision in Indonesia's fifth-largest city. As of September 2025, Makassar's residential market shows clear price variations across different property types and neighborhoods, offering opportunities for both investors and homebuyers.
The city center commands premium prices at IDR 16.7 million per square meter for apartments, while emerging areas offer better value at IDR 7-14 million per square meter. These price differences create distinct investment strategies depending on your goals, whether for personal residence, rental income, or capital appreciation.
If you want to go deeper, you can check our pack of documents related to the real estate market in Indonesia, based on reliable facts and data, not opinions or rumors.
Makassar property prices range from IDR 7 million per sqm in emerging areas to IDR 25 million per sqm in prime city center locations as of September 2025.
The market shows moderate growth with rental yields reaching 5.7% in suburban areas and 2.9% in city center apartments, making it attractive for both income and appreciation strategies.
| Property Type | Location | Price per sqm (IDR) | Price per sqm (USD) |
|---|---|---|---|
| Apartments | City Center | 16,700,000 | $1,019 |
| Apartments | Outside Center | 8,000,000 - 15,000,000 | $488 - $915 |
| Houses | Desirable Areas | 15,000,000 - 20,000,000 | $915 - $1,220 |
| Commercial | City Center | 20,000,000+ | $1,220+ |
| Land | Central/Emerging | 15,000,000 - 25,000,000 | $915 - $1,525 |
Which property types are available in Makassar and what are their average prices per square meter?
Makassar's residential market offers four main property types with distinct pricing structures as of September 2025.
City center apartments command the highest prices at IDR 16.7 million per square meter, equivalent to approximately $1,019. These units typically offer modern amenities and proximity to business districts, justifying the premium pricing.
Apartments outside the city center provide more affordable options, ranging from IDR 8-15 million per square meter ($488-$915). This price variation depends on specific neighborhood development levels and transportation access.
Houses in desirable locations often match or slightly exceed apartment prices, particularly in established residential areas. Land prices have increased due to scarcity, often matching or exceeding apartment rates in central and emerging zones.
Commercial properties in the city center fetch rates exceeding IDR 20 million per square meter due to prime location benefits and business potential.
How do average prices per square meter vary across different neighborhoods in Makassar?
| Area Type | Price Range (IDR) | Price Range (USD) | Key Characteristics |
|---|---|---|---|
| Central Urban | 15,000,000 - 25,000,000 | $915 - $1,525 | Prime business district, highest amenities |
| Suburban | 8,000,000 - 15,000,000 | $488 - $915 | Residential focus, moderate infrastructure |
| Coastal | 10,000,000 - 18,000,000 | $610 - $1,100 | Tourism potential, scenic value |
| Emerging Areas | 7,000,000 - 14,000,000 | $427 - $854 | Development potential, best value |
| Industrial Zones | 6,000,000 - 12,000,000 | $366 - $732 | Lower residential appeal, commercial focus |
How does price per square meter change between small units and larger properties?
Small units like studios and one-bedroom apartments typically offer lower absolute costs but higher prices per square meter due to premium efficiency pricing.
Studio apartments in city center locations command prices at the upper end of the range, often IDR 18-20 million per square meter, as demand from young professionals and students drives competition for these compact spaces.
One-bedroom units follow similar pricing patterns but may offer slightly better value per square meter compared to studios. These properties also generate the highest rental yields due to strong tenant demand.
Larger homes and plots outside the city center often provide lower prices per square meter, particularly in emerging areas where land costs remain moderate. Three-bedroom houses in suburban areas typically range from IDR 10-15 million per square meter.
It's something we develop in our Indonesia property pack.
What is the total cost per square meter including all fees and taxes?
Property purchase costs in Makassar extend beyond the listed price to include various fees and taxes that add 3-6% to your total investment.
Transfer taxes represent the largest additional cost, typically 2-3% of the purchase price. This translates to an additional IDR 400,000-750,000 per square meter on average properties.
Notary fees, legal documentation, and property registration add approximately 1-2% to the total cost. Buyers should budget an additional IDR 200,000-500,000 per square meter for these professional services.
Real estate agent commissions, when applicable, typically range from 2-3% of the purchase price. Mortgage application fees and property inspections contribute another 0.5-1% to total costs.
Overall, buyers should budget an additional IDR 500,000-1,500,000 per square meter beyond the listing price to cover all closing expenses.
Don't lose money on your property in Makassar
100% of people who have lost money there have spent less than 1 hour researching the market. We have reviewed everything there is to know. Grab our guide now.
How does mortgage financing affect the effective cost per square meter?
Mortgage financing significantly impacts the true cost of property ownership through interest payments and associated fees.
Current mortgage rates in Indonesia average 6% annually for 20-year fixed-rate loans. This rate applies to qualified borrowers with proper documentation and income verification.
Down payment requirements typically range from 20-30% of the property value, meaning buyers need substantial upfront capital even with financing. The remaining 70-80% is financed through the mortgage.
Over a 20-year mortgage term, interest payments can nearly double the effective cost per square meter. A property costing IDR 15 million per square meter would result in total payments of approximately IDR 25-28 million per square meter including interest.
Additional mortgage-related costs include application fees (0.5-1%), appraisal fees, and mortgage insurance, adding another IDR 200,000-400,000 per square meter to the total financing cost.
Which neighborhoods offer the best value for money for personal residence?
Emerging urban neighborhoods provide the optimal balance of affordability and livability for personal residence buyers in Makassar.
Biringkanaya offers excellent value with prices ranging from IDR 8-12 million per square meter while providing good access to city amenities and ongoing infrastructure development. The area benefits from new shopping centers and improved transportation links.
Tamalanrea presents another attractive option for owner-occupiers, with prices between IDR 7-11 million per square meter and proximity to universities and educational institutions. This creates a stable, family-friendly environment.
Daya neighborhood combines affordability with growth potential, offering properties at IDR 9-13 million per square meter while benefiting from planned infrastructure improvements and commercial development.
These emerging areas provide access to essential services like schools, healthcare, and shopping while maintaining reasonable commute times to central business districts.
How do rental yields vary between short-term and long-term rentals across different areas?
Rental yield performance varies significantly between property locations and rental strategies in Makassar's market.
City center apartments generate gross yields around 2.9% for long-term rentals, but short-term rental platforms can boost yields to 5-7% for well-managed properties. However, short-term rentals require more active management and higher maintenance costs.
Suburban areas achieve higher long-term rental yields up to 5.7%, though short-term rental demand remains weaker due to limited tourist and business traveler interest. These areas attract long-term tenants seeking affordable family housing.
Coastal areas near Losari Beach can command premium short-term rental rates during peak tourism seasons, potentially reaching 6-8% gross yields. Long-term rental yields in these areas typically range from 3-4%.
Emerging neighborhoods offer the best long-term rental yield potential at 4-6% as population growth and urban migration drive steady tenant demand. Short-term rental opportunities remain limited in these developing areas.
It's something we develop in our Indonesia property pack.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Indonesia versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.
Which areas offer the best potential for capital appreciation and resale value?
Emerging areas with ongoing infrastructure development present the strongest capital appreciation potential in Makassar's property market.
Biringkanaya leads growth potential due to planned transportation improvements and commercial development projects. Properties currently priced at IDR 8-12 million per square meter could see 15-25% appreciation over the next 3-5 years.
Tamalanrea benefits from university expansion and student housing demand, creating sustained pressure on property values. The area's educational focus attracts young professionals and families, supporting long-term price growth.
Central city areas offer steady but modest appreciation due to high baseline prices. These established neighborhoods typically see 3-5% annual price growth, making them suitable for stable, long-term investments.
Coastal zones show conditional growth potential depending on tourism infrastructure investment and government coastal development policies. Success in these areas requires careful monitoring of municipal development plans.
What are current market examples of property prices across different segments?
| Market Segment | Price Range (IDR/sqm) | Price Range (USD/sqm) | Typical Locations |
|---|---|---|---|
| Budget Properties | 7,000,000 - 10,000,000 | $427 - $610 | Sudiang, South Makassar outskirts |
| Mid-Range Properties | 12,000,000 - 18,000,000 | $732 - $1,100 | Biringkanaya, Tamalanrea, Daya |
| Premium Properties | 20,000,000 - 25,000,000 | $1,220 - $1,525 | MTC Karebosi, Panakkukang, Losari Beach |
| Luxury Properties | 25,000,000+ | $1,525+ | Prime city center, exclusive coastal |
| Commercial Properties | 20,000,000 - 35,000,000 | $1,220 - $2,135 | Central business district |
Which neighborhoods are most expensive, emerging, and budget-friendly?
Makassar's property market shows clear neighborhood stratification based on development levels and amenity access.
Most expensive neighborhoods include MTC Karebosi area, Panakkukang district, and Losari Beach vicinity, where properties regularly exceed IDR 20 million per square meter. These areas offer premium amenities, established infrastructure, and prime commercial access.
Emerging neighborhoods with strong growth potential include:
- Biringkanaya - benefiting from new transportation links and commercial development
- Tamalanrea - gaining value from university expansion and young professional migration
- Daya - experiencing infrastructure improvements and residential development
- Rappocini - showing early signs of gentrification and property value increases
- Manggala - attracting families with new schools and shopping facilities
Budget-friendly options include Sudiang, portions of South Makassar outskirts, and Nipa-Nipa areas, where properties remain below IDR 10 million per square meter while still offering basic amenities and city access.
It's something we develop in our Indonesia property pack.
How have property prices changed over the past 5 years and last year?
Makassar's residential property market has shown steady but moderate growth over recent years, with distinct patterns emerging in different time periods.
Over the past five years since 2020, residential property prices have increased by 5-9% total, representing modest but consistent appreciation. This growth reflects Indonesia's overall economic development and urbanization trends.
The growth rate has been relatively conservative compared to major Indonesian cities like Jakarta or Surabaya, making Makassar an attractive option for buyers seeking value in emerging markets.
In the most recent year leading to Q1 2025, price increases have moderated significantly, with Makassar showing just 0.66% growth. This slower pace suggests market stabilization rather than speculative bubbles.
The moderate price appreciation indicates a healthy market environment where property values grow sustainably without creating affordability crises for local buyers.
What are the forecasted trends for property prices over the next 1, 5, and 10 years?
Makassar property market forecasts show measured growth expectations based on urban development patterns and economic fundamentals.
Next year projections suggest 1-2% price growth, particularly in urbanizing zones where infrastructure improvements drive demand. This conservative forecast reflects current market stability and economic conditions.
Five-year forecasts predict 8-12% price increases in emerging and well-developed city center areas, assuming continued urbanization and infrastructure development. Land scarcity will likely contribute to price pressure as the city expands.
Ten-year projections anticipate ongoing urban migration and infrastructure development maintaining moderate price pressure. Makassar is expected to show steady growth similar to other major secondary Indonesian cities, though slower than Jakarta's rapid appreciation.
Compared to regional markets, Makassar offers moderate growth potential with lower entry costs than established major cities, making it attractive for long-term investors seeking steady appreciation rather than rapid speculative gains.
Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Makassar's property market in September 2025 presents clear opportunities for both investors and owner-occupiers across different budget ranges.
With prices ranging from IDR 7 million per square meter in emerging areas to IDR 25 million in prime locations, the market offers sustainable growth potential without the speculative risks seen in more developed cities.
Sources
- Makassar Price Forecasts - BambooRoutes
- Cost of Living in Makassar - ExpatExchange
- Makassar Real Estate Forecasts - BambooRoutes
- Makassar Real Estate Trends - BambooRoutes
- Property Investment in Makassar - Numbeo
- Indonesia Price History - Global Property Guide
- Indonesia Residential Real Estate Market - Mordor Intelligence
- Indonesia Property Prices and Buying Process - Indonesia Real Estate