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
2015 HERBALIFE Bali International Triathlon
2015 HERBALIFE Bali International Triathlon on Sunday, October 25th to Provide Free Detour on Bali Mandara Toll Road
(8/23/2015)
Resident Domain
New Rules on Foreign Property Ownership to Require Legal Residency in Indonesia
(8/23/2015)
Surround Yourself with Beauty
‘Ties & Tiaras’ – Join a Night with the 10 Finalists in the Miss Bali Tropix Pageant September 26, 2015 at Trans Resort Bali
(8/24/2015)
A Lack of Noblese Oblige
Member of Denpasar Royal Household Headed to Prison for Property Fraud and Embezzlement
(8/24/2015)
End Nowhere in Sight for a Long Hot Summer
El Niño Predicted to Create Prolonged Drought Conditions in Wide Areas of Bali
(8/23/2015)
A Bupati Too Busy to Look?
Lawmakers and Regency Officials Appear Reluctant to Take Action Against Recalcitrant Hotel Projects in South Bali
(8/22/2015)
Gotta Know When to Hold Them
Bali Immigration Authorities Arrest 47 Chinese and a Taiwanese Suspected of Running an On-Line Gambling Operation from Bali
(8/23/2015)
The Art of the Deal Made in Bali
Trump Hotels Sign Management Deal with MNC Group to Manage Nirwana Golf and Hotel Complex at Tanah Lot, West Bali
(8/23/2015)
Kid’s Play So Kids Can Play
Citra Scholastika and Bastian Steel in An Evening of Musical Magic at The Westin Nusa Dua Bali on October 16, 2015
(8/23/2015)
Lost in Translation
President Axes Requirement for Indonesian Language Proficiency for Foreign Workers
(8/23/2015)
Will Taxi Drivers be Called Gondoliers?
Former Bali Lawmaker Wants Elevated Highway to Bisect Kuta and End Traffic Congestion
(8/23/2015)
Yes, It’s Safe to Fly Again
State Agencies Declare Flights to Bali and East Java No Longer Threatened by Mt. Raung Volcanic Eruptions
(8/23/2015)
All [News]!