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 · Call to Extend Limits on Foreign Land Ownership
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

Call to Extend Limits on Foreign Land Ownership

Realtors Claim Maximum Land Use Limits of 25 Years for Foreigners is Stifling Property Investment in Indonesia.


Bali News:
Click Image to Enlarge

(12/12/2005)

As reported in the Indonesian-language Bisnis Indonesia, Indonesian realtors are complaining that current restrictions on apartment ownership by foreign nationals are thwarting an otherwise strong market demand from foreign nationals seeking to purchase property in Indonesia.

Handa Sulaiman, a Director of Procon - a major property consulting firm, said the purchasing capacity and demand by foreigners for Indonesian property, especially apartments, was very high. The strong interest in purchasing property in Indonesia by foreigners is always made problematic by legal complications surrounding ownership.

In addition to restrictions that limited property use by foreigners to a maximum of 25 years, property transactions between Indonesians and foreigners are also subject to sales taxes of up to 20%. Handa complained, "such facts make (Indonesian property investment) unattractive for foreigners."

Malaysia More Welcoming

The property consultant went on to cite the example of Malaysia where a number of government-endorsed programs have been launched to encourage apartment purchases by foreigners. As a result, apartment purchases by foreigners have grown year by year since its introduction in 2002, with 2,646 apartments sold to foreign nationals in Malaysia in 2005 calculated through the month ending October.

Land Use of 60-80 Years?

Similarly, the Chairman of Real Estate Indonesia (REI), Lukman Purnomosidi, is urging the Government to consider extending the time limits for property use by foreigners from the current maximum 25 years to a period of 60-80 years.

Purnomosidi says such a move would potentially expand the residential property market by as much as US$ 5 billion per year. He went on to explain that substantial markets for luxury apartments owned by foreigners exist in a number of Indonesian cities with direct foreign air access such as Jakara, Batam, Bandung, Surabaya and Bali.

Another observer of the Indonesian property market, M. Rizal, urged the Government to establish pilot areas in Indonesia to introduce both land and apartment ownership by foreigners.


© 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
How to Ruin a Beach Holiday
Candidasa Beach in East Bali Polluted by Styrofoam Debris from Floating Dock Project
(3/26/2017)
A Devil’s Island on an Island in Paradise
Bali Press Report Exposes Inhumane Conditions at Bali’s Kerobokan Prison
(3/25/2017)
Cheap Flights Between Bali and Tokyo
AirAsiaX to Fly Four Times a Week Between Bali and Tokyo Starting May 24, 2017
(3/25/2017)
New Parking Tariff at Bali Airport Effective April 1, 2017
Effective April 1, 2017, the price to park vehicles at Bali’s Ngurah Rai Airport will increase.
(3/25/2017)
Bad Chemistry
Bali Police Set Up Network with Local Chemical Suppliers to Detect Suspicious Terrorist-Related Activities
(3/25/2017)
Communicating Success in Nusa Dua
Rosalyn Sayswang Heads Marketing Communication at St. Regis Bali Resort and The Laguna Bali
(3/26/2017)
To Reign Over Repast
The Laguna Welcomes Gunnar Kuchenbecker As Director Of Food & Beverage
(3/26/2017)
North-South Toll Road for Bali a Non-Starter?
Public Works Minister Discounts Need for a North-South Toll Road for Bali
(3/25/2017)
Promising to be ‘Bigly’ Obedient
Billionaire Owner of Planned Donald Trump Development in Bali Promises to Respect Local Culture and Rules
(3/25/2017)
Counting the Cracks
Bali Officials Count the Damage from March 22, 2017 Earthquake
(3/24/2017)
The Tip of the Tipping Iceberg?
Two Jembrana Regency Officials Apprehended for Accepting Illegal Payments at Gilimanuk Ferry Port
(3/26/2017)
Bali Named the Best, Again
Trip Advisor Travellers’ Choice Award 2017 Names Bali the World’s Best Destination
(3/24/2017)
All [News]!