Indonesian Developers Call for Easing Ownership Rules

The Indonesian Real Estate Developers Association (REI) has called for foreign property ownership rules to be relaxed. Some members are asking for a change to the rules so that foreigners can buy leasehold titles on apartments and houses for a minimum of 75 years. Others are requesting foreigners be allowed to own and purchase property in the country outright.

 

Current land ownership laws stem from the 1960 Agrarian Law, and REI Chairman Teguh Satria said “If we continue to restrict titles to a maximum of 25 years for foreigners, we won’t be able to compete with neighbours. We don’t have to worry that we are selling land to foreigners, because if we sell an apartment, we are selling the space, not the land. We can keep restrictions on ownership so that only locals can own land.”

 

Satria noted that by relaxing the current laws, as many as 10,000 new apartments could be sold each year. This would generate an estimated $2.5 billion for the economy each year. There are fears in the Indonesian property market that foreigners will look elsewhere instead of going through the onerous process to buy in Indonesia. For example, Anton Sitorus, a property analyst at Jones Lang Lasalle, said: “If a foreigner wants to buy property in Singapore, he can buy it directly without having to go through any of the convoluted processes that we have in Indonesia."

 

Useful Resources

Property for sale in Indonesia

                                                                                                                                                  © International Property News by HomesGoFast.com

Overseas Property For Sale in Indonesia

Other Overseas Property Destinations...

  Spain   France   Portugal   Bulgaria   Turkey   Cyprus   Greece   Italy   South Africa   Croatia   Egypt   United States   Morocco   Germany   Dubai   Dominican Republic   Hungary   Cape Verde   Brazil   Thailand

 

 

Find overseas property

Real estate guides, luxury homes, property news, investment properties, real estate agents & advice for buying property abroad.

 

Africa and the Middle East

Americas

Bahrain	Cape Verde	Dubai	Egypt		Argentina	Belize	Brazil	Canada
Gambia	Jordan	Mauritius	Morocco		Costa Rica	Mexico	Nicaragua	Panama
Qatar	Saudi	South Africa	Tunisia		Paraguay	Uruguay	Venezuela	USA

 

Asia Pacific

Caribbean

Australia	Cambodia	Fiji	India		Antigua	Anguilla	Barbados	Bahamas
Indonesia	Japan	Malaysia	New Zealand		Caymans	Dom Repub	Grenada	Guadeloupe
Philippines	Thailand				Jamaica	Antilles	St Kitts	St Vincent
					St Lucia	Turks Caicos	Trinidad	Virgin islands

 

Central and Eastern Europe

Western Europe

Albania	Bulgaria	Croatia	Czech Rep		Austria	Cyprus	Finland	France
Estonia	Hungary	Latvia	Lithuania		Germany	Gibraltar	Greece	Malta
Poland	Montenegro	Romania	Slovakia		Netherlands	Italy	Ireland	Portugal
Slovenia	Turkey	Ukraine			Spain	Sweden	Switzerland	UK