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
Jln. By Pass Ida Bagus Mantra,
Jln. Pucuk 1 No. 70X
Denpasar, Bali
Indonesia

24h:
+62 (0)812 3819724
Tel:
+62 (0)361 464 032, +62 (0)361 471 0242

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
Advanced Dance Lessons for Healing Fingers
12-Day Comprehensive Massage Course from Jari Menari September 17-24, 2018
(1/21/2018)
Welcome the Earth Dog!
The Laguna at Nusa Dua Celebrates Chinese Lunar New Year with Banquets and High Teas February 9 – 17, 2018
(1/21/2018)
Incorrect Rectal Retention
Russian Tourist Caught with Commercial Quantities of Hashish at Bali’s Airport
(1/21/2018)
An Evening of Music Not to be Missed
An Evening of World Class Piano, Viola, and Voice at Padma Resort Legian on Sunday, February 4, 2018
(1/21/2018)
When Indonesia’s Dragons Become Too Popular
Beyond Bali: Government to Set Maximum Visitor Limits in 2018 at Komodo National Park
(1/21/2018)
COMO Uma Canggu to Open in February 2018
Bali Property will be the 14th COMO Property Worldwide and First Seaside Resort Among 3 Island Properties
(1/21/2018)
‘Oh!’ said Pooh.
Bali Zoo Home to a Newborn Honey Bear
(1/21/2018)
Construction Zone Ahead
Underpass Update: Expect Delays on Northbound Travel Between Jimbaran and Bali Airport During January-February 2018
(1/21/2018)
ARTOTEL for Hope
ARTOTEL Sanur Raises Funds for Bali’s Schizophrenia Community.
(1/21/2018)
25 Years of Helping the Community
Join the 25th Anniversary of Rotary Club Nusa Dua on Saturday, February 3, 2018
(1/21/2018)
No Parking in the Name of the Law!
Additional Steps Underway to Ensure Compliance with New Traffic and Parking Rules in Ubud, Bali
(1/21/2018)
Return to the Elements
Ubud Prepares for Royal Cremation on Friday, March 2, 2018 of Anak Agung Niang Agung
(1/21/2018)
All [News]!