Foreigners to have lifelong 'right to use' property in Indonesia

[webfact]

Foreigners to have lifelong “right to use” property in Indonesia



JAKARTA: -- Foreigners living in Indonesia will be able to secure the “right to use” property in the country for as long as they live under a newly planned state policy, The Jakarta Globe reported, citing a minister.

Minister for Agrarian Affairs and Spatial Planning Ferry Mursyidan Baldan said last week his office had been tasked with drafting a new regulation on the matter.

The regulation will include details on ownership periods, requirements, and rights and obligations of expatriates who will be granted the right to purchase and own property in Indonesia, he said.

However, foreigners would only be allowed to own luxury apartments; they are still prohibited from purchasing landed property or low-cost apartment units.

Foreigners also will be only entitled to “hak pakai,” or the Right of Use; not “hak milik,” the highest form of ownership in Indonesia, or Freehold. The Right of Use is permanent and will not have to be renewed every 25 years as specified in the current regulations.

Property developers have welcomed the plan. Rudy Margono, president director of private developer Gapura Prima said the new policy could boost property growth by 20 percent.

Property observers like Ali Tranghanda, however, expressed concerns that the regulation would only trigger a property bubble if not handled carefully, pointing out the absence of an instrument to control land prices in Indonesia.

Source: http://englishnews.thaipbs.or.th/foreigners-to-have-lifelong-right-to-use-property-in-indonesia


-- Thai PBS 2015-06-29

[trogers]

Such a right cannot be passed on to heirs...

[razer]

Is it me ... or ... is the world getting more and more stupid?

[Berkshire]

"However, foreigners would only be allowed to own luxury apartments; they are still prohibited from purchasing landed property or low-cost apartment units."

So currently, foreigners cannot own anything in Indonesia? And people complain about Thailand....

[SOUTHERNSTAR]

"However, foreigners would only be allowed to own luxury apartments; they are still prohibited from purchasing landed property or low-cost apartment units."

So currently, foreigners cannot own anything in Indonesia? And people complain about Thailand....

I never complained about Thailand, because although its easy to stay here you cant own land. For me its easy to own land in a country like the US but its difficult to get long term access.

Its however changing, Vietnam has now got 50 year leases for foreigners that can be renewed and now Indo is making a move.

[Kaoboi Bebobp]

"However, foreigners would only be allowed to own luxury apartments; they are still prohibited from purchasing landed property or low-cost apartment units."

So currently, foreigners cannot own anything in Indonesia? And people complain about Thailand....

I never complained about Thailand, because although its easy to stay here you cant own land. For me its easy to own land in a country like the US but its difficult to get long term access.

Its however changing, Vietnam has now got 50 year leases for foreigners that can be renewed and now Indo is making a move.

A draft decree last month plans to raise that to 100 years and allow a foreigner with proper visa and married to a Viet to have freehold tenure. The decree also widens the type or properties from just apartments to villas and townhouses.

[BuaBS]

So Indonesia is going to take over as the hub for foreigner murders from Thailand ?

Lifelong can be very short...

[elgordo38]

Is it me ... or ... is the world getting more and more stupid?

Well its not you or me so it must be the rest of the world. I just hope this does not become another hub here. All the hubs seem to be falling off of the wagons.

[MockingJay]

Meanwhile in Thailand...

[kaiyaibob]

"Minister for Agrarian Affairs and Spatial Planning Ferry Mursyidan Baldan said last week his office had been tasked with drafting a new regulation on the matter".

Fantastic name ..quite difficult to decide where the job title stops and the name begins, specially if they are resposible for the Agrarian Affairs and Spatial Planning of Ferries

[Benmart]

Is it me ... or ... is the world getting more and more stupid?

I've learned to live life on life's terms.

The world revolves around the sun and not around me. Stupid or not, I am just a temporary passenger trying not to add my profile to such a label.

[sammygood]

you could go argue, that the average person lives in a dump worth next to nothing, so your 1 million baht equivalent whatever would be luxerious ?