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If you are thinking about investing in property in Makassar, understanding the rental yields you can realistically expect is essential before you commit your money.
This guide breaks down everything you need to know about apartment rental yields in Makassar in 2026, from gross and net returns to neighborhood differences and the costs that will eat into your profits.
We constantly update this blog post so you always have the freshest data available.
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.
What rental yields can I realistically get from an apartment in Makassar?
What's the average gross rental yield for apartments in Makassar as of 2026?
As of early 2026, the average gross rental yield for apartments in Makassar sits at around 5.8%, which is solid compared to many Indonesian cities.
Most apartment investments in Makassar fall within a realistic gross yield range of 4.8% to 7.2%, with some outliers reaching up to 8% if you buy smartly in the right location.
The main factor that causes yields to vary so much in Makassar is whether your apartment is near key employment hubs like the Panakkukang mall district or the Pettarani business corridor, because these areas command stronger rents relative to purchase prices than quieter residential zones.
Compared to Jakarta or Surabaya, Makassar offers slightly higher gross yields because property prices in Makassar remain more accessible while rental demand from young professionals and students keeps rents stable.
What's the average net rental yield for apartments in Makassar as of 2026?
As of early 2026, the average net rental yield for apartments in Makassar is approximately 4.2%, after accounting for all the costs landlords typically face.
Most apartment investors in Makassar can realistically expect net yields between 3.2% and 5.2%, depending on how well they manage expenses and vacancy.
The single biggest expense that reduces gross yield to net yield in Makassar is the combination of building service charges (called IPL) and the 10% final income tax on rental income under Indonesian tax law, which together can consume around 15% to 20% of your gross rental income.
By the way, you will find much more detailed data in our property pack covering the real estate market in Makassar.
What's the typical rent-to-price ratio for apartments in Makassar in 2026?
As of early 2026, the typical rent-to-price ratio for apartments in Makassar hovers around 5% to 6% gross annually, meaning your property would theoretically pay itself back in roughly 17 to 20 years from rent alone.
Most apartment transactions in Makassar show rent-to-price ratios falling within this 5% to 6% band, though cheaper older units can push toward 7% while premium waterfront properties often dip below 5%.
Apartments in neighborhoods like Tamalanrea near universities and Biringkanaya near the airport tend to have the highest rent-to-price ratios in Makassar because purchase prices stay relatively affordable while tenant demand remains consistent from students and airline crews.
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How much rent can I charge for an apartment in Makassar?
What's the typical tenant budget range for apartments in Makassar right now?
The typical monthly tenant budget for renting an apartment in Makassar ranges from IDR 1.5 million to IDR 12 million, which translates to roughly USD 90 to USD 750 or EUR 85 to EUR 700.
Tenants targeting mid-range apartments in Makassar usually budget between IDR 4 million and IDR 7 million per month, equivalent to about USD 250 to USD 440 or EUR 230 to EUR 410, and these renters are typically young professionals or couples.
For high-end or luxury apartments in Makassar, particularly in areas like Tanjung Bunga near the CPI waterfront development, tenants budget IDR 8 million to IDR 12 million monthly, around USD 500 to USD 750 or EUR 465 to EUR 700.
We have a blog article where we update the latest data about rents in Makassar here.
What's the average monthly rent for a 1-bed apartment in Makassar as of 2026?
As of early 2026, the average monthly rent for a 1-bed apartment in Makassar is approximately IDR 4.8 million, which works out to about USD 300 or EUR 280.
Entry-level 1-bed apartments in Makassar rent for around IDR 3.5 million to IDR 4.5 million monthly (USD 220 to USD 280 or EUR 205 to EUR 260), and these are typically older units in areas like Rappocini with basic furnishing and no sea views.
A typical mid-range 1-bed apartment in Makassar commands IDR 4.5 million to IDR 5.5 million per month (USD 280 to USD 345 or EUR 260 to EUR 320), usually located in established buildings near the Panakkukang commercial area with decent furnishing and reliable facilities.
Luxury 1-bed apartments in Makassar, especially those in newer towers near the Losari waterfront or CPI development in Mariso, fetch IDR 6 million to IDR 8 million monthly (USD 375 to USD 500 or EUR 350 to EUR 465), featuring premium finishes and amenities.
What's the average monthly rent for a 2-bed apartment in Makassar as of 2026?
As of early 2026, the average monthly rent for a 2-bed apartment in Makassar is approximately IDR 7.2 million, equivalent to about USD 450 or EUR 420.
Entry-level 2-bed apartments in Makassar rent for around IDR 5.5 million to IDR 6.5 million monthly (USD 345 to USD 405 or EUR 320 to EUR 380), typically found in older buildings in areas like Manggala with functional but basic interiors.
A typical mid-range 2-bed apartment in Makassar commands IDR 6.5 million to IDR 8 million per month (USD 405 to USD 500 or EUR 380 to EUR 465), usually in well-maintained towers near the Pettarani business corridor with good furnishing and working elevators.
Luxury 2-bed apartments in Makassar, particularly in premium developments near Tanjung Bunga or the city center in Ujung Pandang, fetch IDR 8.5 million to IDR 10 million monthly (USD 530 to USD 625 or EUR 495 to EUR 580), offering sea views and upscale amenities.
What's the average monthly rent for a 3-bed apartment in Makassar as of 2026?
As of early 2026, the average monthly rent for a 3-bed apartment in Makassar is approximately IDR 10 million, which translates to about USD 625 or EUR 580.
Entry-level 3-bed apartments in Makassar rent for around IDR 7.5 million to IDR 9 million monthly (USD 470 to USD 560 or EUR 435 to EUR 525), typically in less central areas like Biringkanaya with standard finishes suitable for families on a budget.
A typical mid-range 3-bed apartment in Makassar commands IDR 9 million to IDR 11 million per month (USD 560 to USD 690 or EUR 525 to EUR 640), usually in reputable buildings near Panakkukang with full furnishing and family-friendly amenities.
Luxury 3-bed apartments in Makassar, especially those in the CPI waterfront area or premium towers in Mariso, fetch IDR 11 million to IDR 14 million monthly (USD 690 to USD 875 or EUR 640 to EUR 815), featuring spacious layouts, high-end finishes, and exclusive facilities.
How fast do well-priced apartments get rented in Makassar?
A well-priced apartment in Makassar typically gets rented within 2 to 4 weeks in the best scenarios, though 4 to 8 weeks is more common for average properties.
The typical vacancy rate for apartments in Makassar hovers around 5% to 10% annually, which is manageable but higher than major Indonesian cities like Jakarta or Surabaya due to the smaller tenant pool.
The main factors that cause some apartments to rent faster than others in Makassar are proximity to the Panakkukang mall and office cluster, the quality of air conditioning (critical in Makassar's humid climate), and whether the building has reliable elevator service and 24-hour security.
And if you want to know what should be the right price, check our latest update on how much an apartment should cost 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.
Which apartment type gives the best yield in Makassar?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed apartments in Makassar as of 2026?
As of early 2026, studios and 1-bed apartments typically offer the best rental yields in Makassar, outperforming larger units in terms of return on investment.
Studios in Makassar tend to achieve gross yields of 6% to 7.5%, 1-beds around 5.5% to 7%, 2-beds approximately 5% to 6%, and 3-beds usually between 4.5% and 5.5%.
The main reason smaller units outperform in Makassar is that the city has a large population of young professionals, students from nearby universities like Hasanuddin University, and single workers who prioritize affordability and location over space, keeping demand strong for compact apartments while purchase prices stay relatively low.
Which features are best if you want a good yield for your apartment in Makassar?
The features that most positively impact rental yield for apartments in Makassar are being fully furnished with a reliable air conditioning system, having a compact but efficient layout between 28 and 40 square meters, and being located within walking distance of key demand anchors like malls, offices, or universities.
In Makassar's hot climate, mid-floor and upper-floor apartments tend to rent out faster because they catch more breeze and have fewer mosquito issues compared to ground-level units.
Apartments with balconies or outdoor space do command slightly higher rents in Makassar, but the premium is modest compared to the extra purchase price, so balconies help more with tenant appeal than with boosting yield directly.
Building features like working elevators, 24-hour security, and covered parking do justify higher service charges in Makassar because they significantly reduce vacancy and attract tenants willing to pay more for safety and convenience in a city where these amenities are not universal.
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Which neighborhoods give the best rental demand for apartments in Makassar?
Which neighborhoods have the highest rental demand for apartments in Makassar as of 2026?
As of early 2026, the neighborhoods with the highest rental demand for apartments in Makassar are Panakkukang, Rappocini, Ujung Pandang, Mariso (including the Tanjung Bunga waterfront), and Tamalanrea.
The main demand driver in these Makassar neighborhoods is their concentration of employment, with Panakkukang hosting the city's largest mall and office cluster while Rappocini provides easy access to the Pettarani business corridor, attracting young professionals who want short commutes.
In these high-demand Makassar neighborhoods, well-priced apartments typically get rented within 2 to 4 weeks, and vacancy rates are on the lower end of the city average at around 5% to 7%.
One emerging neighborhood gaining rental demand momentum in Makassar is Biringkanaya near Sultan Hasanuddin International Airport, where infrastructure improvements and practical demand from airline crews and business travelers are pushing rental interest upward.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Makassar.
Which neighborhoods have the highest yields for apartments in Makassar as of 2026?
As of early 2026, the neighborhoods with the highest rental yields for apartments in Makassar are Tamalanrea, Biringkanaya, parts of Panakkukang slightly off the premium streets, and Manggala.
In these top-yielding Makassar neighborhoods, gross rental yields typically range from 6% to 8%, compared to the citywide average of around 5.8%.
The main reason these neighborhoods offer higher yields than others in Makassar is that purchase prices remain significantly lower while rental demand stays supported by specific tenant pools like university students in Tamalanrea, airport workers in Biringkanaya, and budget-conscious professionals in Manggala who keep rents stable without the premium pricing found in waterfront or CBD locations.
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.
Should I do long-term rental or short-term rental in Makassar?
Is short-term rental legal for apartments in Makassar as of 2026?
As of early 2026, short-term rental is legal for apartments in Makassar, but only if you treat it as an accommodation business and comply with the relevant regulations.
The main legal requirements for operating a short-term rental apartment in Makassar include registering under the appropriate KBLI business classification for short-term accommodation and paying the 10% local accommodation tax (PBJT jasa perhotelan) as specified in Makassar Perda 1/2024.
For Airbnb-style rentals in Makassar, you typically need to register through the OSS (Online Single Submission) licensing portal under the "Pondok Wisata" or similar accommodation category, though your apartment building's internal rules may also restrict daily rentals regardless of what city regulations allow.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Makassar.
What's the gross yield difference short-term vs long-term in Makassar in 2026?
As of early 2026, short-term rentals in Makassar can generate roughly 2 to 3 percentage points higher gross yield than long-term rentals, assuming good execution and location.
Long-term rentals in Makassar typically achieve gross yields of 5% to 7%, while well-managed short-term rentals can reach 7% to 10% gross, though net yields often converge due to higher operating costs.
The main additional costs that reduce the net yield advantage of short-term rentals in Makassar include professional management fees of 15% or more, frequent cleaning between guests, higher utility consumption, the 10% local accommodation tax, and significantly more turnover and vacancy risk.
To outperform a long-term rental in Makassar, a short-term rental generally needs to achieve an occupancy rate of at least 60% to 65% annually, which is realistic only for apartments in prime tourist or business areas like Mariso, Tanjung Bunga, or Ujung Pandang near Losari Beach.
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What costs will eat into my net yield for an apartment in Makassar?
What are building service charges as a % of rent in Makassar as of 2026?
As of early 2026, typical building service charges (called IPL in Indonesia) for apartments in Makassar run about 6% to 15% of monthly rent, or roughly IDR 300,000 to IDR 750,000 (USD 19 to USD 47 or EUR 17 to EUR 44) for a unit renting at IDR 5 million per month.
The realistic range of building service charges in Makassar spans from around 6% of rent for basic older buildings to 15% or more for premium towers with extensive amenities.
Services that typically justify higher-than-average service charges in Makassar include 24-hour security with functioning CCTV (important in a city where not all buildings have this), swimming pool maintenance, backup generators for frequent power fluctuations, and professional pest control given the tropical climate.
What annual maintenance budget should I assume for an apartment in Makassar right now?
Apartment owners in Makassar should assume a typical annual maintenance budget of around 0.5% to 1% of the property value, which for a IDR 1 billion apartment translates to IDR 5 million to IDR 10 million per year (USD 315 to USD 625 or EUR 290 to EUR 580).
Depending on apartment age and building condition, annual maintenance costs in Makassar can range from IDR 4 million for newer well-maintained units to IDR 15 million (USD 250 to USD 940 or EUR 230 to EUR 870) for older apartments requiring more frequent repairs.
The most common maintenance expenses apartment owners face annually in Makassar are air conditioning servicing and repairs (critical in the tropical heat and humidity), water heater maintenance, repainting due to humidity-related wear, and plumbing fixes because Makassar's coastal location can accelerate corrosion in older pipes.
What property taxes should I expect for an apartment in Makassar as of 2026?
As of early 2026, the typical annual property tax (PBB-P2) for apartments in Makassar ranges from 0.1% to 0.4% of the taxable value, which for a IDR 1 billion apartment works out to roughly IDR 1 million to IDR 4 million per year (USD 63 to USD 250 or EUR 58 to EUR 230).
Depending on apartment value and location in Makassar, property taxes can range from under IDR 1 million annually for modest units in less central areas to IDR 5 million or more (USD 315 or EUR 290) for premium properties in prime districts.
Property taxes in Makassar are calculated based on the NJOP (government-assessed land and building value), which is typically lower than market value, and then multiplied by the applicable rate tier specified in Makassar Perda 1/2024.
There are some property tax exemptions available in Makassar, including a non-taxable threshold (NJOPTKP) that exempts a portion of value from taxation, though the exemption amounts are relatively modest for apartment investors.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Makassar.
How much does landlord insurance cost for an apartment in Makassar in 2026?
As of early 2026, typical annual landlord insurance for an apartment in Makassar costs around 0.15% to 0.35% of the insured value, which for a IDR 1 billion property translates to roughly IDR 1.5 million to IDR 3.5 million per year (USD 95 to USD 220 or EUR 87 to EUR 205).
Depending on coverage level and apartment value in Makassar, annual landlord insurance costs can range from under IDR 1 million for basic fire coverage to IDR 5 million or more (USD 315 or EUR 290) for comprehensive policies including flood and earthquake protection.
What's the typical property management fee for apartments in Makassar as of 2026?
As of early 2026, the typical property management fee for apartments in Makassar is around 5% to 8% of collected rent for long-term rentals, which on a IDR 5 million monthly rent equals about IDR 250,000 to IDR 400,000 per month (USD 16 to USD 25 or EUR 15 to EUR 23).
Property management fees in Makassar can range from 5% for basic tenant-finding and rent collection services to 15% or higher for short-term rental management that includes guest communication, cleaning coordination, and dynamic pricing.
Standard property management fees in Makassar typically include tenant screening, lease preparation, rent collection, basic maintenance coordination, and periodic property inspections, though you should confirm the exact services included before signing any agreement.
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.
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 |
|---|---|---|
| BPS Kota Makassar | Official city statistics from Indonesia's national statistics agency. | We used it to understand where rental demand comes from in Makassar by analyzing population and economic activity data. We treated it as baseline context for identifying demand centers. |
| Rumah123 (Sales) | One of Indonesia's largest property portals with transparent listing data. | We built a Makassar-specific price snapshot from real sale listings. We used asking prices to compute gross yields when combined with rent data. |
| Rumah123 (Rentals) | Same portal providing visible rent ranges and market medians. | We anchored current rent bands for Makassar apartments using this data. We combined these rents with sale prices to calculate yield ranges. |
| 99.co Indonesia | Another major Indonesian property portal for cross-checking data. | We used it as a second rent benchmark to validate Rumah123 figures. We widened our ranges conservatively where we found discrepancies. |
| Makassar Perda 1/2024 | Official city regulation from Makassar's Revenue Office. | We quantified local taxes affecting net yield including PBB-P2 and accommodation tax rates. We treated it as the source of truth for Makassar tax parameters. |
| PP 34/2017 | Government regulation on final income tax for rental income. | We anchored the income tax treatment on long-term rental cashflows using this regulation. We used it to calculate a conservative net-yield haircut. |
| OJK Insurance Circular | Official financial regulator guidance on property insurance premiums. | We justified the order of magnitude for landlord insurance pricing in Makassar. We relied on it for regulatory realism in our cost estimates. |
| Allianz Indonesia | Major insurer providing transparent premium calculation examples. | We converted insurance rates into actual rupiah amounts for a realistic annual budget. We used their worked example to make costs understandable. |
| BPS KBLI 2020 | Official business classification reference from Indonesia's statistics agency. | We described what counts as short-term accommodation under Indonesian law. We used it to avoid vague definitions of Airbnb-style activity. |
| OSS Licensing Portal | Official government licensing system showing business classifications. | We explained what legal short-term rental means in Indonesia. We used it to outline compliance steps at a high level. |
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