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
Makassar is the largest city in eastern Indonesia and offers foreign buyers a unique opportunity to invest in a growing property market at prices far below Jakarta or Bali.
Apartments represent only about 8% of Makassar's residential market, which means the options are more limited but prices remain competitive compared to other Indonesian cities.
We constantly update this blog post to reflect the latest market data and pricing trends in Makassar.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Makassar.
Insights
- Makassar apartment prices grew 2.2% year-over-year in December 2025, making it one of the three fastest-appreciating cities in Indonesia alongside Denpasar and Bekasi.
- Foreigners buying apartments in Makassar should budget an extra 6.5% to 9% on top of the purchase price for taxes, notary fees, and administrative costs, which is higher than many expect.
- The median apartment price in Makassar sits around IDR 1.2 billion (about $72,000), roughly half of what you would pay for a comparable unit in Jakarta.
- Makassar's IPL (building maintenance fees) typically run between IDR 15,000 and 30,000 per square meter monthly, so a 60 m² apartment could cost you IDR 900,000 to 1,800,000 each month just for building upkeep.
- Bank Indonesia's Residential Property Price Index shows Makassar's market moving steadily rather than experiencing dramatic swings, suggesting stable conditions for buyers entering in early 2026.
- New-build apartments in Makassar carry roughly a 15% premium over comparable resale units, which is moderate compared to other Indonesian cities where the gap can exceed 25%.
- The BPHTB buyer tax in Makassar is calculated at 5% of the purchase price minus an IDR 80 million threshold, meaning you save about IDR 4 million compared to cities without this deduction.
- Panakkukang district offers the best value for first-time buyers in Makassar, with apartment prices per square meter running 20% to 30% below premium waterfront or CBD locations.
How much do apartments really cost in Makassar in 2026?
What's the average and median apartment price in Makassar in 2026?
As of January 2026, the median apartment price in Makassar is approximately IDR 1.2 billion (around $72,000 or €61,000), while the average apartment price runs higher at about IDR 1.8 billion ($108,000 or €92,000) because luxury towers and waterfront units pull the number up.
Looking at price per square meter, the median sits around IDR 25 million per m² ($1,500 or €1,280 per m²), with the average slightly higher at IDR 28 million per m² ($1,680 or €1,430 per m²), which translates to roughly $140 to $155 per square foot.
Most standard apartments in Makassar fall within a price range of IDR 800 million to IDR 2.5 billion ($48,000 to $150,000 or €41,000 to €127,000), which covers everything from basic studios to comfortable two-bedroom units in decent buildings.
How much is a studio apartment in Makassar in 2026?
As of January 2026, the typical price for a studio apartment in Makassar is around IDR 800 million ($48,000 or €41,000), which makes studios the most accessible entry point for foreign buyers in the city.
Entry-level to mid-range studio apartments in Makassar generally cost between IDR 600 million and 900 million ($36,000 to $54,000 or €31,000 to €46,000), while high-end studio units in premium buildings can reach IDR 1.1 billion to 1.3 billion ($66,000 to $78,000 or €56,000 to €66,000).
Studio apartments in Makassar typically measure between 24 and 30 square meters, which is fairly standard for Indonesian urban markets and provides enough space for single occupants or couples without children.
How much is a one-bedroom apartment in Makassar in 2026?
As of January 2026, a typical one-bedroom apartment in Makassar costs approximately IDR 900 million ($54,000 or €46,000), representing a modest step up from studio pricing with meaningfully more living space.
Entry-level to mid-range one-bedroom units in Makassar range from IDR 750 million to 1.1 billion ($45,000 to $66,000 or €38,000 to €56,000), while high-end one-bedroom apartments in premium locations can cost between IDR 1.2 billion and 1.5 billion ($72,000 to $90,000 or €61,000 to €77,000).
One-bedroom apartments in Makassar typically measure between 35 and 45 square meters, giving buyers a separate sleeping area and often a small balcony or additional storage space.
How much is a two-bedroom apartment in Makassar in 2026?
As of January 2026, the typical price for a two-bedroom apartment in Makassar is around IDR 1.6 billion ($96,000 or €82,000), which represents the sweet spot for families and the most common purchase type among foreign buyers.
Entry-level to mid-range two-bedroom apartments in Makassar cost between IDR 1.2 billion and 2.0 billion ($72,000 to $120,000 or €61,000 to €102,000), while high-end two-bedroom units in premium towers or waterfront developments can reach IDR 2.3 billion to 3.0 billion ($138,000 to $180,000 or €117,000 to €153,000).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Makassar.
How much is a three-bedroom apartment in Makassar in 2026?
As of January 2026, a typical three-bedroom apartment in Makassar costs approximately IDR 3.0 billion ($180,000 or €153,000), placing these units firmly in the upper segment of the local market.
Entry-level to mid-range three-bedroom apartments in Makassar range from IDR 2.2 billion to 3.5 billion ($132,000 to $210,000 or €112,000 to €178,000), while luxury three-bedroom units and penthouses can reach IDR 5.0 billion or higher ($300,000+ or €255,000+).
Three-bedroom apartments in Makassar typically measure between 80 and 120 square meters, though some premium units exceed 150 square meters and start to overlap with penthouse territory.
What's the price gap between new and resale apartments in Makassar in 2026?
As of January 2026, new-build apartments in Makassar carry approximately a 15% price premium over comparable resale units, which is a moderate gap reflecting the city's stable market conditions rather than speculative new-build pricing.
The average price per square meter for new-build apartments in Makassar sits around IDR 30 million per m² ($1,800 or €1,530 per m²), reflecting newer facilities, higher finishing standards, and developer premiums.
Resale apartments in Makassar average approximately IDR 24 million per m² ($1,440 or €1,220 per m²), offering buyers the opportunity to purchase at a discount while potentially negotiating further based on unit condition and seller motivation.
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Can I afford to buy in Makassar in 2026?
What's the typical total budget (all-in) to buy an apartment in Makassar in 2026?
As of January 2026, the typical all-in budget to buy a standard two-bedroom apartment in Makassar is approximately IDR 1.7 billion ($102,000 or €87,000), which includes the purchase price plus all taxes and transaction costs.
Beyond the purchase price, buyers in Makassar need to budget for BPHTB buyer tax (around 5% of the price minus a threshold), notary and PPAT fees (1% to 1.5%), land office processing, and potentially agent commissions depending on the transaction structure.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Makassar property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Makassar.
What down payment is typical to buy in Makassar in 2026?
As of January 2026, the typical down payment for buying an apartment in Makassar ranges from 20% to 30% of the purchase price, which means approximately IDR 240 million to 360 million ($14,400 to $21,600 or €12,200 to €18,400) for a median-priced unit.
Most Indonesian banks require a minimum down payment of 15% to 20% for apartment purchases, though foreigners may face stricter requirements depending on residency status and the specific lender's policies.
To secure the most favorable mortgage terms and interest rates in Makassar, a down payment of 30% or more is recommended, as this demonstrates financial commitment and reduces the bank's risk exposure.
We made this infographic to show you how property prices in Indonesia compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
Which neighborhoods are cheapest or priciest in Makassar in 2026?
How much does the price per m² for apartments vary by neighborhood in Makassar in 2026?
As of January 2026, apartment prices in Makassar range from approximately IDR 15 million per m² ($900 or €765 per m²) in budget areas to IDR 45 million per m² ($2,700 or €2,300 per m²) in the most premium towers and waterfront locations.
The most affordable neighborhoods for apartments in Makassar include Biringkanaya, Tamalate, and parts of Manggala, where prices typically run between IDR 15 million and 22 million per m² ($900 to $1,320 or €765 to €1,120 per m²).
The most expensive neighborhoods for apartments in Makassar are the CBD corridors and waterfront developments, where prices reach IDR 35 million to 45 million per m² ($2,100 to $2,700 or €1,785 to €2,300 per m²).
By the way, we've written a blog article detailing what are the current best areas to invest in property in Makassar.
What neighborhoods are best for first-time buyers on a budget in Makassar in 2026?
As of January 2026, the top three neighborhoods for first-time buyers on a budget in Makassar are Panakkukang, Biringkanaya, and Tamalate, all of which offer practical access to urban amenities without premium pricing.
Apartment prices in these budget-friendly Makassar neighborhoods typically range from IDR 600 million to 1.2 billion ($36,000 to $72,000 or €31,000 to €61,000), making them accessible for buyers who want to minimize their initial outlay.
These districts offer good access to shopping centers, hospitals, schools, and public transport connections, plus newer developments often include modern amenities like pools and fitness centers.
The main trade-off for buying in these budget-friendly Makassar neighborhoods is potentially longer commute times to the central business district and less prestige compared to waterfront or CBD addresses.
Which neighborhoods have the fastest-rising apartment prices in Makassar in 2026?
As of January 2026, the neighborhoods with the fastest-rising apartment prices in Makassar include areas around major business corridors, waterfront developments, and zones benefiting from the Equilibrium Centerpoint Park project.
Year-over-year price increases in these fast-appreciating Makassar neighborhoods range from approximately 3% to 5%, outpacing the citywide average of 2.2% and offering better capital appreciation potential for investors.
The main drivers behind rapid price growth in these areas include infrastructure improvements, new commercial developments, and increased demand from young professionals seeking urban lifestyles close to employment centers.
You can also read our latest update about property price forecasts in Makassar.
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What extra costs will I pay on top of the apartment price in Makassar in 2026?
What are all the buyer closing costs when you buy an apartment in Makassar?
For a typical IDR 1.6 billion apartment in Makassar, total buyer closing costs amount to approximately IDR 105 million to 145 million ($6,300 to $8,700 or €5,350 to €7,400), covering all mandatory taxes and professional fees.
The main categories of closing costs for Makassar apartment buyers include BPHTB (buyer acquisition tax), notary and PPAT fees for deed preparation and signing, land office registration and processing, and potentially agent commission if applicable.
BPHTB is typically the largest single closing cost for buyers in Makassar, calculated at 5% of the purchase price minus an IDR 80 million non-taxable threshold, which effectively saves you about IDR 4 million compared to cities without this deduction.
Some closing costs in Makassar are negotiable or can vary between transactions, particularly notary fees and agent commissions, so it pays to get itemized quotes upfront and compare providers.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Makassar?
Buyers in Makassar should budget approximately 7% to 8% of the purchase price for closing costs, which is the realistic planning figure that covers the typical transaction without surprises.
The realistic low-to-high range for buyer closing costs in Makassar runs from about 6.5% to 9% of the purchase price, with the variation depending on property value, notary selection, and whether any agent commissions apply to your side of the deal.
We actually cover all these costs and strategies to minimize them in our pack about the real estate market in Makassar.
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.
What are the ongoing monthly and yearly costs of an apartment in Makassar in 2026?
What are typical HOA fees in Makassar right now?
In Makassar, apartment building maintenance is handled through IPL (Iuran Pengelolaan Lingkungan) fees charged per square meter per month, with typical rates running between IDR 15,000 and 30,000 per m² ($0.90 to $1.80 or €0.77 to €1.53 per m²) depending on building quality and amenities.
For a 60 m² apartment in Makassar, monthly IPL fees range from approximately IDR 900,000 to 1,800,000 ($54 to $108 or €46 to €92), with basic buildings at the lower end and amenity-rich towers with pools, gyms, and 24-hour security at the higher end.
What utilities should I budget monthly in Makassar right now?
The estimated total monthly utility cost for a typical apartment in Makassar ranges from IDR 700,000 to 2,100,000 ($42 to $126 or €36 to €107), covering electricity, water, internet, and gas where applicable.
Monthly utility costs in Makassar vary significantly based on apartment size and usage patterns, with small studios at the lower end around IDR 500,000 ($30 or €26) and larger air-conditioned two-bedroom units reaching IDR 2,000,000+ ($120+ or €102+).
The typical monthly utility budget in Makassar includes electricity (PLN), water (PDAM Makassar), internet service, and sometimes cooking gas, with electricity accounting for the largest share of the total.
Electricity is by far the most expensive utility for apartment owners in Makassar, particularly because air conditioning usage in the tropical climate can easily double or triple the base electricity bill during hot months.
How much is property tax on apartments in Makassar?
The estimated typical annual property tax (PBB-P2) for an apartment in Makassar ranges from IDR 1.2 million to 4 million ($72 to $240 or €61 to €204), which is relatively modest compared to IPL and electricity costs.
Makassar's property tax uses a bracketed rate system with rates of 0.1%, 0.2%, 0.3%, or 0.4% depending on the NJOP (tax-assessed value) band, plus there is a non-taxable threshold that reduces the effective bill for lower-value properties.
Annual property tax in Makassar can range from under IDR 1 million for modest units to over IDR 5 million ($300 or €255) for high-value apartments, depending on the assessed value and which rate bracket applies.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Makassar.
What's the yearly building maintenance cost in Makassar?
The estimated typical yearly building maintenance cost for apartment owners in Makassar is approximately IDR 11 million to 22 million ($660 to $1,320 or €560 to €1,120), which is essentially your IPL multiplied by 12 months.
Yearly maintenance costs in Makassar can range from IDR 8 million ($480 or €410) for basic buildings to over IDR 30 million ($1,800 or €1,530) for premium towers with extensive amenities, staff, and services.
Building maintenance costs in Makassar typically cover common area cleaning and upkeep, security services, elevator maintenance, pool and gym upkeep where applicable, and building management administration.
In Makassar's apartment buildings, the building maintenance cost is included in your monthly IPL fee, so you should not receive a separate maintenance bill on top of what you already pay to the building management each month.
How much does home insurance cost in Makassar?
The estimated typical annual home insurance cost for an apartment in Makassar ranges from IDR 1.5 million to 2.5 million ($90 to $150 or €77 to €128) for basic fire and property coverage on a standard unit.
Annual home insurance costs in Makassar can range from about 0.15% to 0.25% of the insured value, so insuring an apartment worth IDR 1.5 billion would cost roughly IDR 2.25 million to 3.75 million ($135 to $225 or €115 to €191) depending on coverage level.
Home insurance is technically optional for apartment owners in Makassar unless you have a mortgage that requires it, though having coverage is strongly recommended given the protection it provides against fire, theft, and natural disasters.
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What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Makassar, we always rely on the strongest methodology we can and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Bank Indonesia SHPR Q3 2025 | Indonesia's central bank publishing official housing price survey data. | We used the Makassar RPPI series to anchor how fast prices were moving into early 2026. We then projected a small step from late-2025 rather than assuming a boom. |
| Bank Indonesia SHPR Q1 2025 | Same central bank survey, earlier quarter, useful for trend validation. | We cross-checked Makassar's RPPI level against Q3 to avoid single-quarter reliance. We used it to confirm the slow growth assumption into 2026. |
| Perda Kota Makassar No. 1/2024 | The city's binding local law setting rules for PBB-P2 and BPHTB taxes. | We used it to calculate buyer tax, the non-taxable threshold, and property tax brackets. We built closing cost percentages directly from these articles. |
| Indonesia PP No. 18/2021 | Official government gazette for national land and strata title regulations. | We used it to explain what ownership means in Indonesia's apartment context. We clarified what rights foreigners typically hold in practice. |
| UNCTAD Investment Policy Monitor | UN body providing neutral policy summary on foreign property rights. | We used it as a secondary check that we described the policy direction correctly for foreigners and strata title rights. |
| Rumah123 Makassar Listings | Major Indonesian property portal with extensive live listing data. | We sampled real asking prices and sizes to estimate price-per-m² and typical unit budgets. We used multiple unit types to avoid one-size-fits-all numbers. |
| Rumah123 Panakkukang Listings | Same portal filtered to one major Makassar district for neighborhood data. | We used it to cross-check budget versus prime price levels by district. We quantified neighborhood price dispersion using shown ranges. |
| PLN Electricity Tariffs | State power utility's primary source for official tariff structure. | We used it to ground the electricity budget discussion in official rates. We translated that into monthly costs for typical apartments. |
| CNBC Indonesia Tariff Update | Major business outlet publishing January 2026 electricity tariff details. | We used it to pin our discussion to January 2026 specifically. We only used it because it clearly references official tariff figures. |
| PDAM Makassar | The city water utility handling all residential water billing. | We used it to anchor that water is handled by the city utility. We provided practical monthly budgeting ranges for apartment water costs. |
| Detik Properti IPL Guide | Major national publisher explaining how apartment IPL fees are calculated. | We used it for the mechanics of how IPL is charged per m². We did not treat it as Makassar-specific but applied local rate estimates. |
| Antara Makassar | Indonesia's national news agency reporting on local government statements. | We used it for context that Makassar was not pushing abrupt PBB-P2 increases. We still calculated taxes from the Perda text as the actual rules. |
| Global Property Guide | International property research firm tracking Indonesian market trends. | We used it to cross-check national apartment price movements and mortgage rate context. We validated Makassar's relative positioning. |
| Kompas | Major Indonesian newspaper reporting on 2026 housing market outlook. | We used it to confirm Makassar's 2.2% year-over-year price growth ranking. We validated the stable market direction into 2026. |
| Mordor Intelligence | Market research firm covering Indonesian residential real estate trends. | We used it for context on Makassar's Equilibrium Centerpoint development and regional diversification trends. We validated market share data. |
| Emerhub | Business services firm specializing in Indonesia foreign buyer guidance. | We used it to validate transaction process steps and tax payment procedures. We cross-checked closing cost component descriptions. |
| Wise | International money transfer company with Indonesia property guides. | We used it to validate foreign buyer process steps and mortgage availability context. We confirmed the Hak Pakai framework description. |
| Exchange-rates.org | Currency data provider tracking USD/IDR rates with daily precision. | We used it to convert all IDR prices to USD and EUR equivalents. We applied January 2026 rates for accuracy. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Indonesia. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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