What are the rental yields for apartments in Surabaya? (2026)

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Neighborhoods and apartment rental yields in Surabaya in 2026

This table compares apartment rental yields in Surabaya by neighborhood and apartment type.

For each area, the table shows estimated purchase price, estimated monthly rent, gross rental yield, and estimated net rental yield for studios, 1-bedroom apartments, and 2-bedroom apartments. The wider tracker behind the article also considers fees, likely vacancy, time to rent, tenant demand, main risk, and the investment profile when interpreting these numbers.

Finally, please note you'll find much more detailed data in our real estate pack about Surabaya.

We have made this infographic to give you a quick and clear snapshot of the property market in Indonesia. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.

Which neighborhoods offer the best net yield among areas people actually want to live in Surabaya?

The best net-yield neighborhoods among livable Surabaya apartment areas are Mulyorejo, Dharmahusada, Pakuwon City, Kertajaya, and Gubeng.

Mulyorejo is the strongest area in the dataset. Studios are modeled at Rp320m purchase price, Rp2.3m monthly rent, 8.6% gross yield, and 6.5% net yield.

Dharmahusada is close behind. A studio is modeled at Rp310m and Rp2.2m monthly rent, producing 8.5% gross yield and 6.4% net yield.

Pakuwon City is slightly more expensive, but it has a better lifestyle and tenant-demand story than many cheaper areas. A 1-bedroom apartment is modeled at Rp610m, Rp3.9m monthly rent, 7.7% gross yield, and 5.8% net yield.

Gubeng is not the highest-yield area, but it is one of the easiest to understand for a beginner buyer. A 1-bedroom apartment is modeled at Rp700m and Rp4.2m monthly rent, giving 7.2% gross yield and 5.3% net yield.

The practical takeaway is that Mulyorejo and Dharmahusada give stronger yield, while Gubeng and Pakuwon City give better tenant depth and resale confidence.

Where can I find apartments with above-average yields and below-average entry prices in Surabaya?

The clearest Surabaya neighborhoods with above-average yields and below-average entry prices are Mulyorejo, Dharmahusada, Rungkut, Sukolilo, Kertajaya, and Wonokromo.

Mulyorejo is the cleanest example. A studio is modeled at only Rp320m and Rp2.3m monthly rent, which gives the highest gross yield in the table at 8.6% and the highest net yield at 6.5%.

Dharmahusada also works well because a 1-bedroom apartment is modeled at Rp470m with Rp3.1m monthly rent. That gives 7.9% gross yield and 6.0% net yield.

Rungkut has one of the lowest studio entry prices in the table at Rp300m. The modeled studio rent is Rp2.0m per month, which produces 8.0% gross yield and 5.9% net yield.

Wonokromo also looks affordable. A 1-bedroom apartment is modeled at Rp540m, Rp3.4m monthly rent, 7.6% gross yield, and 5.7% net yield.

The honest interpretation is that cheap does not automatically mean safe. These areas need more careful building selection because vacancy, furnishing, maintenance, and resale liquidity can change the real return quickly.

Where does the rent level justify the purchase price most clearly in Surabaya?

The rent level most clearly justifies the purchase price in Mulyorejo, Dharmahusada, Pakuwon City, Kertajaya, and Gubeng.

Mulyorejo has the best rent-to-price relationship in the table. Its 2-bedroom apartment is modeled at Rp720m and Rp4.7m monthly rent, producing 7.8% gross yield and 6.0% net yield.

Pakuwon City also looks rational. A 1-bedroom apartment is modeled at Rp610m and Rp3.9m monthly rent, which is strong for a more recognizable East Surabaya apartment location.

Kertajaya is another practical rent-to-price market. A studio is modeled at Rp360m and Rp2.4m monthly rent, giving 8.0% gross yield and 5.9% net yield.

Gubeng is more central and slightly more expensive, but the rent still supports the purchase price. A 2-bedroom apartment at Rp1.02b and Rp5.8m monthly rent still reaches 6.8% gross yield and 5.0% net yield.

We have actually built the our real estate pack about Surabaya to make sure you won’t buy in the wrong area. Check it out.

Where is the best place to buy for stable rental income rather than maximum yield in Surabaya?

The best Surabaya neighborhoods for stable rental income are Gubeng, Pakuwon Indah, Pakuwon City, Darmo / Mayjen Sungkono, and Tegalsari / Tunjungan.

These areas do not always give the highest net rental yield in Surabaya, but they usually have deeper tenant pools and better resale logic.

Gubeng is the best balance in the dataset. A 1-bedroom apartment is modeled at 5.3% net yield, while a studio reaches 5.5% net yield.

Pakuwon Indah is expensive, but it is more defensive. A 1-bedroom apartment is modeled at Rp870m and Rp5.2m monthly rent, giving 7.2% gross yield and 5.3% net yield.

Tegalsari / Tunjungan is useful for buyers who want central Surabaya exposure. A 1-bedroom apartment is modeled at Rp790m, Rp4.8m monthly rent, 7.3% gross yield, and 5.4% net yield.

For a beginner buyer, the trade-off is simple. Mulyorejo may give better yield, but Gubeng, Pakuwon City, Pakuwon Indah, and Tegalsari / Tunjungan may be easier to rent and easier to resell.

Which apartment type gives the best return for the lowest total investment in Surabaya?

The apartment type that gives the best return for the lowest total investment in Surabaya is usually the studio apartment.

Studios have the lowest purchase price in every neighborhood in the dataset, and they often show the highest net rental yield. That makes them the clearest beginner format for rental income.

Mulyorejo studios are modeled at Rp320m and 6.5% net yield. Dharmahusada studios are modeled at Rp310m and 6.4% net yield.

Rungkut studios are even cheaper at Rp300m and still show 5.9% net yield. Sukolilo studios are modeled at Rp340m and 6.0% net yield.

One-bedroom apartments are slightly less aggressive, but they can be easier to hold. They attract single professionals, couples, and renters who want more usable space than a studio.

Two-bedroom apartments can make sense in Pakuwon City, Gubeng, Pakuwon Indah, and Darmo, but they are usually better for tenant stability than maximum yield.

We give you more details in the our real estate pack about Surabaya.

Which neighborhoods offer strong rental income with the lowest vacancy risk in Surabaya?

The Surabaya neighborhoods that combine strong rental income with lower vacancy risk are Gubeng, Pakuwon Indah, Pakuwon City, Tegalsari / Tunjungan, and Darmo / Mayjen Sungkono.

These areas have higher absolute rents because tenants are paying for access, amenities, centrality, lifestyle, or more recognized apartment clusters.

Pakuwon Indah has the highest modeled absolute rents in the table. A 1-bedroom apartment rents for Rp5.2m per month, while a 2-bedroom apartment rents for Rp8.0m per month.

Gubeng gives a broader central-access profile. A 1-bedroom apartment rents for Rp4.2m per month and produces 5.3% net yield.

Pakuwon City gives a good middle point. A 2-bedroom apartment rents for Rp5.6m per month, with 7.5% gross yield and 5.7% net yield.

The honest interpretation is that high monthly rent is useful only when it comes from a deep tenant base. A high-rent apartment in an expensive tower can still sit vacant if the target renter pool is too narrow.

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 look overpriced relative to their rental income in Surabaya?

The areas that look most expensive relative to rental income in Surabaya are Pakuwon Indah, Darmo / Mayjen Sungkono, Dukuh Pakis, Wiyung, and parts of Citraland.

These are not bad places to live. The issue is that purchase prices are high enough to compress the rental-income return.

Pakuwon Indah is the clearest example. A 2-bedroom apartment is modeled at Rp1.45b and Rp8.0m monthly rent, producing 6.6% gross yield but only 4.8% net yield.

Darmo / Mayjen Sungkono is also more defensive than high-yielding. A studio is modeled at Rp540m and Rp3.1m monthly rent, which gives 6.9% gross yield and 4.8% net yield.

Dukuh Pakis has similar pressure. A 2-bedroom apartment is modeled at Rp1.18b and Rp6.5m monthly rent, which produces 6.6% gross yield and 4.8% net yield.

The practical conclusion is not to avoid these areas automatically. It is to negotiate hard, avoid overpaying for prestige, and make sure the specific building can attract tenants at the rent needed to support the price.

Which neighborhoods should I avoid even if the rental yield looks attractive in Surabaya?

Beginner investors should be careful with Rungkut, outer Sukolilo, outer Wonokromo, and weaker-stock parts of Jemursari, even when the headline yield looks attractive.

Rungkut studios show 5.9% net yield, which is attractive on paper. The risk is that tenant demand can be thinner and more building-specific than in Mulyorejo, Gubeng, or Pakuwon City.

Sukolilo can work well near campuses and stronger access points. But a studio with weak furnishing or poor building management can take longer to rent even if the modeled area yield is 6.0% net.

Wonokromo has practical access and good modeled numbers, including 5.7% net yield for 1-bedroom apartments. The concern is that building quality and micro-location matter heavily.

Jemursari looks affordable, but the 1-bedroom net yield is only 5.0%. That is acceptable, not exceptional, so a weak building can erase the advantage.

The real risk is not the neighborhood name alone. It is buying the wrong building, on the wrong street, with weak management, tired facilities, poor furnishing, or unclear resale demand.

Which neighborhoods look risky even though the rental yield is high in Surabaya?

The high-yield but riskier Surabaya areas are Rungkut, Sukolilo, Jemursari, and some parts of Wonokromo.

Rungkut is a good example of why yield needs context. A studio is modeled at Rp300m, Rp2.0m monthly rent, and 5.9% net yield, but a small vacancy or repair can reduce the annual return quickly.

Sukolilo studios show 6.0% net yield, but the demand case depends strongly on student, young-worker, and access-driven renters.

Jemursari studios reach 5.5% net yield, but 1-bedroom apartments sit at 5.0% net. That means the investor has less room for mistakes on price, furnishing, and tenant selection.

Wonokromo has attractive modeled yields, including 5.8% net for studios and 5.7% net for 1-bedroom apartments. The risk is that older or poorly managed stock can be harder to rent and resell.

A safer alternative is often Mulyorejo or Pakuwon City. The yield may be similar, but the tenant-demand story is broader and easier for a beginner buyer to verify.

What neighborhoods should I avoid when buying a rental apartment in Surabaya?

For beginner rental investors in Surabaya, the avoid list is mostly about weak micro-locations and weak buildings, not a total ban on whole neighborhoods.

Be careful with weak versions of Rungkut, outer Sukolilo, low-liquidity Jemursari buildings, and poorly managed Wonokromo apartments.

Avoid Rungkut if the apartment is not close to a clear employment, campus, or daily-use demand source. A modeled studio yield of 5.9% net is useful only if a real tenant can be found quickly.

Avoid outer Sukolilo if the unit depends only on cheap rent. The area can work near campuses and practical access points, but weaker units are more exposed to vacancy.

Avoid Jemursari buildings where resale liquidity is unclear. A 1-bedroom apartment at 5.0% net yield is not strong enough to compensate for poor building quality.

Avoid older Wonokromo buildings with unclear management, poor maintenance, or weak furnishing standards. The location can be practical, but the wrong building can turn a good modeled yield into a slow rental.

Which neighborhoods are seeing rental demand weaken, and why, in Surabaya?

The Surabaya neighborhoods where rental demand looks more fragile are older or less differentiated apartment stock in Jemursari, Rungkut, outer Sukolilo, and some lower-quality Wonokromo buildings.

The weakness is usually building-specific rather than neighborhood-wide. Older units, weak furnishing, poor management, limited parking, or inconvenient access can matter more than the district label.

Rungkut and Sukolilo can still show strong modeled yields, with studio net yields of 5.9% and 6.0%. The problem is that these numbers depend on picking a building that renters already understand.

Jemursari is more moderate. The modeled 1-bedroom net yield is 5.0%, which means there is less buffer if the tenant search takes longer than expected.

Wonokromo can work because of practical access, but weaker buildings carry more maintenance and tenant-screening risk. A low purchase price can hide future operating friction.

The recommendation is to monitor these areas rather than reject them completely. Buy only at a discount and only when there is visible rental activity in the same building or a very close comparable building.

Which neighborhoods are seeing new developments that could create stronger rental demand in Surabaya?

The strongest development-led rental demand story in Surabaya is in Pakuwon City, Mulyorejo, Wiyung, Citraland, and areas connected to future transport and road improvements.

Pakuwon City benefits from the East Surabaya growth corridor, lifestyle retail, schools, and apartment clusters. In the dataset, a 2-bedroom apartment is modeled at 5.7% net yield, which is strong for a more lifestyle-driven area.

Mulyorejo benefits from campus and hospital logic. Its 1-bedroom apartments are modeled at Rp500m and Rp3.3m monthly rent, giving 7.9% gross yield and 6.0% net yield.

Wiyung and Citraland have a West Surabaya growth story, but their yields are more moderate. Wiyung 1-bedroom apartments are modeled at 5.0% net yield, while Citraland 1-bedroom apartments are modeled at 4.9% net yield.

The important distinction is demand-creating development versus supply-heavy development. Infrastructure, schools, hospitals, malls, and employment nodes can deepen tenant demand, while too many new apartment units can increase competition.

The best infrastructure play is not the area with the most hype. It is the area where better access and tenant demand are not already fully priced into the apartment purchase price.

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.

Which neighborhoods are becoming more attractive because of recent infrastructure or transport changes in Surabaya?

The Surabaya neighborhoods becoming more attractive because of infrastructure and access improvements are Pakuwon City, Wiyung, Citraland, Mulyorejo, Sukolilo, and Wonokromo.

East Surabaya benefits from the MERR corridor logic, which supports areas such as Mulyorejo, Sukolilo, and Pakuwon City. These locations can serve renters who value practical access more than prestige.

Mulyorejo shows the strongest yield profile among those areas. Studios are modeled at 6.5% net yield, while 1-bedroom and 2-bedroom apartments are both modeled around 6.0% net yield.

Pakuwon City is less cheap but more balanced. Its studio, 1-bedroom, and 2-bedroom apartments are modeled at 5.9%, 5.8%, and 5.7% net yield.

West Surabaya benefits from road and lifestyle infrastructure around Wiyung, Citraland, and Pakuwon Indah. The yield is not always as strong, but the resale and lifestyle story can be easier to explain.

Wonokromo benefits from practical central-south access. The investment case depends heavily on whether the specific building is well managed and attractive enough for renters.

Which neighborhoods have become less attractive for apartment investors over the last 12 months?

The neighborhoods that have become less attractive for apartment investors over the last 12 months are overpriced parts of Pakuwon Indah, Darmo / Mayjen Sungkono, Dukuh Pakis, and weaker-stock Rungkut or Jemursari.

The problem in Pakuwon Indah and Darmo is not lack of desirability. The problem is that purchase prices can move ahead of rent, which compresses net rental yield.

Pakuwon Indah 2-bedroom apartments show this clearly. The modeled purchase price is Rp1.45b, the monthly rent is Rp8.0m, and the net yield is only 4.8%.

Darmo / Mayjen Sungkono also looks more defensive than high-yielding. The modeled studio net yield is 4.8%, and the 2-bedroom net yield is 4.7%.

Rungkut and Jemursari face a different issue. They are cheaper, but they are not always liquid enough for a beginner buyer, especially if the building is older or poorly managed.

The practical conclusion is to buy prestige areas only at a discount, and buy cheaper areas only when the building has proven tenant demand.

Which apartment types are becoming harder to rent in Surabaya, and in which neighborhoods?

The apartment types becoming harder to rent in Surabaya are oversized 2-bedroom apartments in expensive towers and poorly furnished studios in weaker buildings.

Two-bedroom units become harder when rents move above the local renter budget. This matters most in Pakuwon Indah, Darmo, and Dukuh Pakis, where purchase prices are high and the tenant pool is narrower.

Pakuwon Indah 2-bedroom apartments rent for a modeled Rp8.0m per month, but the purchase price is Rp1.45b and the net yield is only 4.8%. That is a sign of a high-ticket asset, not a pure-yield asset.

Darmo / Mayjen Sungkono 2-bedroom apartments show a similar pattern, with Rp1.25b purchase price, Rp6.8m monthly rent, and 4.7% net yield.

Studios become harder when they are in poor buildings or far from campuses, hospitals, offices, malls, or transport corridors. This risk is higher in weaker parts of Rungkut, Sukolilo, Jemursari, and Wonokromo.

The most liquid Surabaya apartment type is usually the well-furnished 1-bedroom in Gubeng, Mulyorejo, Pakuwon City, or Tegalsari / Tunjungan. It gives a wider tenant pool than a tiny studio and a lower entry price than a 2-bedroom unit.

For beginners, the safest rule is simple: buy a small, practical apartment in a building renters already understand. Avoid unusual layouts, weak management, and prices that require luxury rent to make the yield work.

Who is the author of this content?

BAMBOOROUTES

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 Surabaya. If you’d like to learn more about us, you can check our presentation page.