Robert Go, Jakarta – Hunting for an apartment in Jakarta is a walk in the park, unless the objective is to land the priciest of the available bunch.

The problem is twofold: Limited supply and extremely high demand from well-heeled Indonesians and expatriates who have snapped up residences costing upwards of US$600,000 to own and over US$4,000 to lease even during the economic crisis.

"There are only a few thousand units on the market while the list of potential buyers or tenants is growing," said Ms Dina Pattiasina of Colliers Jardine (Jakarta). "In a way, top-layer housing sells itself. Some people want the best possible services and amenities, and can pay for that level of privilege," she added.

Ms Dina, who is currently working with the Four Seasons Regent Residences complex in the heart of Jakarta, went on to talk about private lift access, 24-hour concierge service, state-of-the-art security system, imported marble and gold trimmings, lushly landscaped grounds and sparkling blue swimming pools.

Name recognition is also something that she and other marketing executives bank on. "Tenants are assured the same level of service and professionalism that guests at the Four Seasons Regent hotel across the street receive," said Mr Simon Bessant, the Regent's marketing director.

Other elite residences (or "oasis of opulence" as one brochure boasts), such as the Dharmawangsa Apartments and the Kempinski Apartments, report similar approaches. "There is a focus on rich Indonesians and expatriates, those who can fulfil the price standard," said Ms Joan, a marketing officer at the Kempinski.

"Prices have remained high since the onset of the crisis, showing that people are still willing and able to pay for more luxury," she added. Occupancy rates at both the Dharmawangsa and the Kempinski have remained at over 90 per cent through the last two years. The Regent, which completed construction last year, is already 60 per cent full on its two available towers.

While extremely wealthy Indonesians have bought units to rent out or occupy themselves, a large share of tenants come from the expatriate community, most of whom spend only a number of years in Jakarta and insist on getting the same standards that they are accustomed to back home.

"The trend is different from the past, however, with more high-level executives arriving today as opposed to middle management or technical personnel in the past. The living standards have accordingly gone up," said Ms Dina.

The Regent, which is waging a promotion campaign to sell 28 already tenanted units in Singapore last weekend, listed executives from Citibank, British Petroleum Amoco, Gulf Resources, Newmont and other high profile global companies on their tenant roster.

The demand is expected to rise continually over the next few years. "As Indonesia recovers, the market will only get hotter with more high-powered expatriates flowing into Jakarta," said Mr Bessant. "Prospects for investors who buy units to rent out are very good," he added.