What is the average property price in Makassar?

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A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Makassar. If you'd like to learn more about us, you can check our presentation page.

What's the average property price in Makassar today when including all fees and taxes?

As of September 2025, the average apartment price in Makassar sits at approximately IDR 16.7 million per square meter, which translates to about $1,019 per square meter at current exchange rates.

When purchasing property in Makassar, you need to budget for additional costs beyond the listed price. Transaction fees, taxes, and administrative costs typically add 5-8% to your total purchase amount. This means if you're buying an apartment listed at IDR 2 billion, expect to pay an additional IDR 100-160 million in various fees.

For landed houses, the pricing structure differs slightly, with average costs ranging between IDR 12-18 million per square meter depending on the specific location and property specifications. Premium areas command higher prices, while emerging neighborhoods offer more competitive rates.

The total cost calculation should include notary fees (typically 1% of purchase price), land transfer tax (5% for properties above IDR 60 million), and various administrative charges. Foreign buyers may face additional restrictions and costs depending on the property type and ownership structure chosen.

It's something we develop in our Indonesia property pack.

How does that differ between apartments, houses, and land?

The Makassar property market shows distinct pricing patterns across different property types, each serving different investment strategies and buyer profiles.

Apartments in Makassar average around IDR 16.7 million per square meter, with newer developments and those in prime locations commanding premium pricing. These properties typically offer the most straightforward ownership structure for foreign investors and often include building amenities and professional management services.

Houses present a broader price range, generally falling between IDR 12-18 million per square meter. The variation depends heavily on factors like land size, building quality, neighborhood infrastructure, and proximity to commercial centers. Suburban houses often provide better value per square meter compared to central locations.

Land prices show the most dramatic variation, ranging from IDR 3.3 million per square meter in developing areas to over IDR 200 million per square meter in prime central districts like Ujung Pandang. Raw land offers the highest potential returns but requires significant development expertise and capital investment.

The choice between these property types often depends on your investment timeline, available capital, and risk tolerance. Apartments offer immediate rental potential, houses provide lifestyle benefits, and land represents long-term appreciation opportunities.

Which neighborhoods in Makassar are the most expensive, which are up-and-coming, and which are budget-friendly?

Makassar's neighborhood pricing reflects the city's development patterns, with established central areas commanding premium prices while emerging districts offer growth potential.

The most expensive area remains Ujung Pandang, the historical and commercial heart of Makassar. This central district commands premium pricing due to land scarcity, established infrastructure, and proximity to business centers. Properties here often trade at significant premiums to the city average.

Up-and-coming neighborhoods include Manggala, which benefits from modern development projects and improving infrastructure connectivity. Rappocini attracts investors due to its proximity to major universities, creating consistent rental demand. Tamalate has emerged as a growth area, driven by infrastructure improvements and planned development projects.

Budget-friendly options can be found in Bontoala, where improving transportation links and affordable housing projects make it attractive for first-time buyers and investors seeking entry-level opportunities. These areas often offer the best value propositions for long-term capital appreciation.

Each neighborhood category serves different investment strategies, from stable premium investments in established areas to higher-growth potential in emerging districts.

Can you give me example purchase prices for each of those neighborhood categories?

How do average prices in Makassar compare to similar large cities in Indonesia?

Makassar offers significant value compared to Indonesia's other major metropolitan areas, positioning itself as an attractive alternative for property investors seeking growth potential at reasonable entry costs.

Jakarta, Indonesia's capital and largest city, commands apartment prices of IDR 25-35 million per square meter, making it 50-100% more expensive than Makassar. Prime Jakarta real estate can reach even higher premiums, particularly in areas like Central Jakarta or South Jakarta.

Surabaya, Indonesia's second-largest city, averages around IDR 20 million per square meter for apartments as of 2025. This makes Surabaya approximately 20% more expensive than Makassar, though both cities offer similar infrastructure and economic opportunities.

The price differential reflects Makassar's position as an emerging major city with significant growth potential. While Jakarta and Surabaya represent more mature markets, Makassar offers investors the opportunity to enter at lower price points while benefiting from ongoing urbanization and infrastructure development.

This positioning makes Makassar particularly attractive for investors seeking higher rental yields and capital appreciation potential compared to the more established and expensive markets in Java.

What have average property prices in Makassar been like five years ago and one year ago?

Makassar's property market has demonstrated consistent growth over recent years, reflecting the city's expanding economy and ongoing urban development initiatives.

Five years ago in 2020, property prices in Makassar were approximately 30-35% lower than current levels. This steady appreciation has been driven by consistent urbanization, infrastructure improvements, and growing investor interest in secondary Indonesian cities.

The growth trajectory accelerated in recent years, with 2024 showing annual growth rates of approximately 4.8% for new properties. However, 2025 has seen more moderate growth of around 1.5%, suggesting the market may be entering a more stable phase after rapid previous appreciation.

One year ago in 2024, prices were roughly 6-7% lower than current September 2025 levels, with particularly strong performance in up-and-coming areas like Manggala and Tamalate. These emerging neighborhoods have shown sharper gains than established areas, reflecting changing investment patterns.

The historical performance indicates Makassar has provided solid returns for property investors while maintaining relative affordability compared to other major Indonesian cities. This track record supports continued investor confidence in the market's fundamentals.

What's the projected average price trend for Makassar in one year, five years, and ten years?

Market forecasts for Makassar property prices reflect cautious optimism based on the city's economic fundamentals and ongoing development projects.

For 2026, experts project steady but moderate growth of approximately 2-5% annually. This projection reflects the current economic environment, government infrastructure spending, and continued urban migration to Makassar from surrounding regions.

The five-year outlook through 2030 suggests continued upward pressure on prices, with potential total appreciation of 10-20% above 2025 levels. This projection assumes continued economic growth, successful completion of planned infrastructure projects, and sustained population growth in the metropolitan area.

Looking ahead to 2035, the ten-year forecast suggests sustained appreciation, though potentially at slower rates as the market matures and base prices increase. Competition from other emerging Indonesian cities may moderate growth rates, but Makassar's strategic location and economic base should support continued value appreciation.

These projections depend heavily on successful execution of government development plans, continued economic stability, and maintenance of Indonesia's overall growth trajectory. Investors should consider these forecasts alongside their individual investment timelines and risk tolerance.

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What's the difference in cost—including mortgage, fees, and taxes—between buying to live in versus renting out short-term?

The financial structure for owner-occupied versus short-term rental properties in Makassar involves different cost considerations and potential returns that significantly impact your investment decision.

Buying to live in requires a down payment of 20-30% plus the standard 5-8% transaction costs. For a typical IDR 2.5 billion property, expect upfront costs of approximately IDR 650 million. Current mortgage rates hover around 6% annually, making financing relatively accessible for qualified buyers.

Short-term rental properties can generate higher gross yields of 5-7% annually, particularly in areas near universities or tourist attractions. However, current market conditions show some oversupply in certain segments, which may compress rental returns. Property management costs, maintenance, and marketing expenses can consume 20-30% of gross rental income.

Short-term rental owners face additional tax obligations, including a 10% rental income tax for non-resident property owners. Professional property management services typically charge 15-25% of rental income, which should be factored into return calculations.

The choice between strategies depends on your lifestyle preferences, available time for property management, and risk tolerance for rental market fluctuations.

How about the cost difference for long-term renting versus buying to resell later at a higher price?

The financial comparison between long-term renting and buying for capital appreciation reveals distinct cost structures and risk profiles that suit different investor profiles.

Long-term rental costs in Makassar center around IDR 3.25 million monthly for a one-bedroom apartment in the city center, while three-bedroom units average IDR 6 million monthly. Renting eliminates upfront purchase costs and provides flexibility to relocate without transaction penalties.

Buying for resale requires substantial capital commitment but offers potential for significant appreciation. Based on historical trends, investors might expect 15-30% total price growth over a medium-term holding period of 3-5 years, though this depends heavily on market conditions and property selection.

Capital gains tax of approximately 2.5% applies when selling, along with agent fees of 3-5% of sale price. These exit costs must be factored against potential appreciation when calculating net returns. Property holding costs include annual property tax, maintenance, and potential vacant periods between tenants.

The break-even timeline typically ranges from 3-5 years, depending on purchase price, appreciation rates, and rental costs avoided. This calculation helps determine whether buying or renting aligns better with your investment timeline and financial objectives.

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 properties make the smartest choices right now if you want to live in them?

For owner-occupiers seeking the best value and lifestyle benefits in Makassar's current market, specific property types and locations offer optimal combinations of affordability, amenities, and future appreciation potential.

Suburban modern houses or apartments in Manggala and outer Rappocini provide excellent living conditions with reasonable purchase prices and steady appreciation prospects. These areas offer larger living spaces, modern amenities, and growing infrastructure while maintaining affordability compared to central locations.

Tamalate has emerged as particularly attractive for families and professionals seeking modern housing with infrastructure development benefits. The area provides good value for money while positioning owners to benefit from ongoing urban development projects and improving connectivity.

New apartment complexes in these emerging areas often include facilities like swimming pools, gyms, and security services that enhance daily living quality. The lower density compared to central areas also provides a more comfortable residential environment.

Consider properties with good access to major roads and public transportation, as Makassar continues expanding its transport infrastructure. Properties near planned infrastructure projects often provide both current convenience and future appreciation potential.

Which are the smartest if you're aiming to rent out short-term?

Short-term rental success in Makassar depends on strategic location selection that maximizes occupancy rates and rental premiums while minimizing operational challenges.

Properties near major universities in Rappocini and Tamalate provide consistent demand from students, visiting academics, and temporary staff. University areas maintain steady occupancy throughout the academic year and often command premium rates during peak enrollment periods.

Apartments and houses near tourist attractions or transit hubs offer access to both domestic and international visitors. Central Ujung Pandang locations provide premium rental rates with typically low vacancy periods, though higher purchase prices may impact overall yields.

Properties with modern amenities, reliable internet connectivity, and professional management services tend to achieve higher occupancy rates and guest satisfaction scores. Consider units in buildings with 24-hour security, parking facilities, and proximity to restaurants and shopping areas.

Current market conditions suggest some oversupply in certain short-term rental segments, making location selection and property differentiation even more critical for successful rental returns. Focus on unique features or prime locations that maintain competitive advantages.

Which properties are best if your goal is to resell for profit later?

Capital appreciation strategies in Makassar should focus on properties positioned to benefit from the city's continued development while offering reasonable entry prices and strong growth fundamentals.

Modern homes or land parcels in up-and-coming areas like Manggala, Tamalate, and peripheral districts with planned infrastructure projects offer the highest appreciation potential. These areas combine current affordability with strong development catalysts that should drive future value increases.

Raw land in areas designated for future development provides maximum appreciation leverage, though requires longer investment timelines and development expertise. Investors should research planned infrastructure projects, zoning changes, and urban development patterns when selecting land investments.

Limited-supply properties in central areas like Ujung Pandang can offer "safe haven" characteristics with steady appreciation, though higher entry prices may limit total return potential. These properties appeal to investors seeking lower-risk appreciation with established market fundamentals.

Consider properties that can be improved or repositioned during ownership to maximize resale value. Properties with expansion potential, renovation opportunities, or conversion possibilities often outperform standard residential investments.

It's something we develop in our Indonesia property pack.

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.

Sources

1. BambooRoutes - Makassar Price Forecasts
2. Numbeo - Makassar Property Investment
3. Rumah123 - Makassar House Sales
4. BambooRoutes - Makassar Area Guide
5. BambooRoutes - Surabaya Property
6. BambooRoutes - Indonesia House Prices
7. Investasian - Indonesia House Prices
8. Global Property Guide - Indonesia Price History