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
When Things Fail to Add Up
Editorial: Poor Grasp of Mapping Tourism Growth Underlines a Much Larger Problem
(7/5/2015)
Watching You, From a Distance
Indonesia to Introduce Law Requiring its Citizens to Register On Line When Going Abroad
(7/5/2015)
Has the Bali Property Boom Gone Bust?
Developers Say Bali Property Sales Down 75% in 2015
(7/5/2015)
Strokes of Good Luck
Trips to London and Harley Davidson Motorcycles among Prizes to be Won Bali National Golf Club August 8-9, 2015
(7/5/2015)
Bali Airport; Ready for the Holiday Rush
Bali Airport Sets Up Command Posts in Anticipation of Lebaran Rush
(7/5/2015)
Kite Flyers Leave Bali in the Dark
PLN Worried that Baliís Kite-Flying Seasons will Precipitate Power Outages
(7/5/2015)
PATA Mart Returns to Indonesia
Indonesia to Host 2016 PATA Travel Mart
(7/5/2015)
Medan Tragedy
Military Transport Crash in Medan Kills at Least 113 in Long Litany of C-130 Crashes in Indonesia
(7/5/2015)
Small Shops Must Stop Selling Beer
Bali Threaten to Close Down Shops in Kuta and Legian Illegally Selling Beer
(7/5/2015)
Bali Human Cultural Icons
Bali Arts Festival Honor Nine Senior Traditional Arts Performers
(7/5/2015)
The Man of de Malmanche
New Zealand Man Sentenced to 15 Years in Prison for Smuggling Drugs into Bali
(7/5/2015)
The Hills are Alive
Jetstar Cancels Several Bali Flights to Avoid Volcanic Ash from East Java Volcano
(7/5/2015)
All [News]!