Close
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: Real Estate Agents Lobby for Foreign Property Rights
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
Reducing Fatal Snakebites in Indonesia
Indonesia Needs to Develop a Range of Poisonous Snakebite Serum Vaccines
(11/23/2014)
Imprisoned on Appeal
Supreme Court Send Bali Lawyer Rizaldy Wartuty to Prison for Fraud in a Property Deal
(11/23/2014)
Snatch Thieves, Catch Thieves
Police Arrest Two Pickpockets Operating on Poppies Lane II in Kuta, Bali
(11/26/2014)
Prisoners of Paradise
Bali’s Kerobokan Prison Bursting with Inmates While New Prison Construction in Bangli Stuck in Bureaucratic and Funding Delays
(11/23/2014)
Roadside Banditry
Villagers between Selat and Sideman Participating in Collection Illegal Retributions from Passing Trucks
(11/23/2014)
Where to Lunch in Ubud
Too Good Not to Share: Warung Teges, Peliatan, Ubud for Outstanding Nasi Bali
(11/23/2014)
Refusing Treatment Proves Fatal for Arab Tourist
Saudi Arabian Tourist Fall Ill and Dies in Bali
(11/23/2014)
Asia’s Best Street Food in a Single Locale
Too Good Not to Share: Bali Update Editor Discovers that Sarong’s Love Affair with Indonesian Cuisine Continues to Blossom and Bloom
(11/23/2014)
Saved from the Satay Grill
Bali Water Police Rescue 51 Endangered Green Turtles
(11/23/2014)
Man of the People
President Joko Widodo Flies Economy to Attend Son’s Graduation in Singapore
(11/23/2014)
A Dozen Years for Homicide
19 Year-Old Male Prostitute who Killed American Paul Latourell Sentenced to 12 Years Prison
(11/23/2014)
Fire in Ubud
Massive Fire Destroys Clear Café and Five Nearby Homes in Ubud, Bali
(11/23/2014)
All [News]!