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 · This Land is Posted
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

This Land is Posted

Indonesia Signals Modest Changes in Property Ownership Rules for Foreigners.


Bali News: Indonesia, Bali,  land, real estate, foreign ownership, lease, regulation
Click Image to Enlarge

(5/22/2010)

Expectations that the promised changes in property ownership rules in Indonesia would open wide the doors to expatriate property purchases appear to have been overly optimistic for those predicting a 1,000% increase in property sales to foreigners.

The Jakarta Post reports that the new regulations will only slightly loosen Indonesia's current absolute prohibition against foreign land ownership by limiting purchases of landed houses to foreign retirees. Indonesia's Minister of Public Housing, Suharso Monoarfa, confirmed that the new regulations now being prepared would allow retirees to finance up to 50% of a property purchase for a maximum repayment period of 3 years.

The Minister said that those purchasing an apartment for investment purposes would not be allowed to use bank credits to conclude a purchase, required instead to pay cash. Foreshadowing more confusion ahead for foreigners desirous of purchasing land in Indonesia, a property consultant from Cushman and Wakefield, Arief Rahardjo, warned that it will prove difficult to distinguish between those purchasing land for investment purposes and those seeking a personal residence.

Teguh Satria, Chairman of Real Estate Indonesia (REI), is apparently unhappy with the lack of opportunities the new rules will provide to foreign property purchasers. Saying the new rules are "unclear," Satria complained, "the criteria of elderly or retiree and the considerations behind the plan are not clear yet." He felt the low cost of property in Indonesia made cash purchases by foreigners easy, but questioned if those wishing to purchase an apartment for personal occupancy would be allowed three years credit.

The new regulations were rumored to allow for 70 years ownership for those foreigners allowed under the new regulations to purchase property in Indonesia. This now appears in question, with Satria saying the lease period tenure will not be for 70 years, as was originally hoped.

Related Articles

[Governor Pastika: Time to call a 'Time Out']

[The Liberalization of Foreign Property Ownership in Bali]

[Defacing Bali]

[Bali Real Estate: Boom or Bust?]


© 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
Women Transforming the World from Bali
International Women’s Conference to Be Held in Nusa Dua April 5-6, 2015
(2/28/2015)
The Importance of Lighting Rods
West Bali Man Suffers Burn After Lightning Strike While Urinating Under a Coconut Tree.
(2/28/2015)
Pay More at the Door
Bali Plans to Charge Foreign Visitors More When Visiting Provincial Tourism Objects
(2/28/2015)
Less Time in Lines at Bali’s Airport
Bali Airport Adding 4 More VOA Desks to Speed Processing Time on Arrival
(3/1/2015)
Bali’s Fading Identity
Bali Investors Accused of Giving Short Shrift to Balinese Architectural Finishes, Cultural Values and Environmental Sustainability.
(3/1/2015)
Life’s a Breeze in Nusa Dua
Ritz-Carlton Bali Hosts Industry and Media to Beachside Cocktails
(3/1/2015)
Allowing Bali to Compete Internationally
Ngurah Rai International Moves Up Dramatically in Rankings of the World’s Airport to Number 60
(3/1/2015)
A Bachelor’s Party in Paradise
ABC Television Episode of ‘The Bachelor’ Features Romance at The Mulia Resort and Villas in Bali
(3/1/2015)
Leave Your Valuables at Home
Tourism Industry Asked to Warn Bali Visitors of US$250 Value Limit on Personal Items
(3/1/2015)
Teaching the Rules of the Road
Bali Opens a ‘Traffic Park’ to Teach the Public How to Drive Safely
(3/1/2015)
Women in Love
‘Women in Love’ Solo Exhibition by Teguh Ritma Iman at Ganesha Gallery in Bali March 10 – May 14, 2015
(3/1/2015)
Swim, Bike and Run in Paradise
8th Edition of Bali International Triathlon Returns on October 25, 2015 with Herbalife as Title Sponsor.
(3/1/2015)
All [News]!