Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Real Estate Agents Lobby for Foreign Property Rights
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Real Estate Agents Lobby for Foreign Property Rights

Constitution Bars Realtors' Efforts to Extend Property Ownership Rights to Non-Indonesians.


Bali News:
Click Image to Enlarge

(12/26/2008)

The Indonesian Real Estate Association (REI) chapter from North Sumatra told the national news agency Antara that there is a pressing need to extend the leasehold period for foreigners in Indonesia in order bolster the national real estate market.

The Chairman of REI in Medan, Rusmin Lawin, said, "the leasehold in Indonesia of 70 years – broken down into consecutive lease periods of 25,25 and 20 years – is no longer in keeping with the current situation." He explained in Malaysia leasehold is now 99 years with Singapore, Vietnam and Thailand now granting longer leasehold periods.

The real estate professional said that longer leasehold periods and accompanying rights for foreign investors would lure investment, especially in areas bordering Malaysia, Singapore and Thailand, such as North Sumatra.

Lawin also argue that a liberalization of leasehold rules would result in more revenues for the government through the elimination of "name-lending" arrangements in which property is held on behalf of foreign owner by an Indonesian nominee.

Previous efforts to extend property ownership rights to foreigners or the period of leaseholds have been rebuffed by the Constitutional Courts which insists foreign property ownership in Indonesia is specifically forbidden by the Constitution.

The REI have proposed a number of changes affecting foreign property ownership in Indonesia, including:

● Ownership of property by foreigners for a period of up to 70 years.

● Establishment of clear specifications for real estate products.

● The right for individual property ownership as opposed to current corporate ownership.

● The specification of a certain number of floors available for foreign ownership in apartment developments.

● A revision of Property Law No. 41 of 1996 regarding foreign land ownership and leasehold by foreigners in Indonesia.

Related Articles

[ Bali Property Ownership by Foreigners]

[New Regulations Promised for Foreign Land Ownership]

[Freehold Land Title for Foreigners in Bali: Caveat Emptor]

[This Land is My Land, This Land is Your Land]

[Stopping the Land Grab]

[And Forgive Us Our Trespasses]


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Meet in Bali
9th Edition of the Bali Meeting Guide to be Published in September 2015
(3/29/2015)
Fragrant Wine for the Fragrant Harbor
Hatten Wines’ Pino de Bali fortified Wines Served at the Peninsula Hotel Hong Kong
(3/29/2015)
Admission Tickets on the Increase
Admission Charges to Increase at South Bali Public Tourist Attraction on January 1, 2016
(3/29/2015)
When People Leave their Manners at Home
Editorial: Confusion, Conflicting Rules and Bad Manners Surround Plans to Limit Beer Sales Commencing April 16, 2015
(3/29/2015)
Conrad Living Lobby Art Exhibition
The World of Indonesian Puppetry in an Exhibition by I Ketut Sudiana in the Lobby of The Conrad Bali Resort and Spa April 3- June 30, 2015
(3/29/2015)
Going with the Grain
Klungkung Regency in Bali to Develop Sea Salt Production as a Tourist Attraction
(3/29/2015)
Fruit from the Tree of Good and Evil
Falling Durian Kills Second Man in Bali in a Single Season
(3/29/2015)
Safety Ranking for Indonesian Airlines
Transportation Ministry to Give Safety Ranking to Indonesian Airlines and Enforce Minimum Air Fleet Size of 10 Planes
(3/29/2015)
We Only Have Eye for You!
Immigration Introducing New Electronic Tracking Systems to Keep Track of Foreign Visitors
(3/29/2015)
Indonesia’s Waterloo?
Tourist Minister Says Dirty Public Toilets Make Indonesian Non-Competitive in Attracting Visitors
(3/29/2015)
Missing at Sea
Domestic Tourist Drowns at Tanah Lot
(3/29/2015)
Permission to Work
Government Promises Inter-Departmental Cooperation to Simplify Application Process for Work Permits
(3/29/2015)
All [News]!