Foreigners are eyeing property investments in Bali and Batam
ChannelRakyat. Owning property such as houses and apartments is everyone's dream. Also for foreign nationals (foreigners) who work or have even lived for decades in Indonesia.
But unfortunately, many do not know that this can be done. When met in the Serpong area, South Tangerang, Rick, a citizen (WN) of the Netherlands said that before becoming a citizen, he really wanted to buy property in Indonesia.
"I and also there are several foreign friends in the area and in Jakarta, they are just like me, wanting to buy (own) property in Indonesia, because Indonesia is beautiful," he said, who began to speak fluent Indonesian on Tuesday
Now Rick, who has lived in Indonesia for dozens of years, has already bought property at Nuvasa Bay in the Nongsa Area, Batam, Riau Islands. But some of Rick's friends who are foreigners, are still not aware of any new rules that allow foreigners to own property in Indonesia.
William, another Singaporean who also wants to own property in Indonesia is another story. According to him, having property in Indonesia legally and technically makes it possible, especially ownership for an apartment.
"There is no doubt for Singaporeans who might want to own property in Indonesia. It could be for investment or vacation or for retirement plans, "he said.
Friends of foreigners Rick & William may be just a few of the thousands of foreigners who cannot own property in Indonesia, even though they are already married to Indonesian citizens once and live decades in the country.
However, the issuance of Government Regulation (PP) No. 103 of 2015 concerning Housing Ownership or Residential Houses by Foreigners began to provide fresh air, and made foreigners interested in entering and buying property in Indonesia.
According to the Director General (Director General) of Legal Legal Relations, Ministry of Agrarian & Spatial Planning, Djamaluddin, for property ownership in Indonesia by foreigners the provisions now exist in Ministerial Regulation No. 29/2016 related to implementing regulations of PP No. 103 of 2015.
"Prices, costs, other rules are discussed there," he said.
The government's step immediately received appreciation from various property groups and practitioners.
Appreciation
Property broker from Century 21 Indonesia, Meiko Handoyo appreciates the government's steps in regulating property ownership by foreign nationals (WNA). According to Meiko, the matter of foreign investment in the property sector in Indonesia was influenced by the rules of three institutions, namely BPN, immigration and taxation.
"The current rules are better even though they still need to be improved, but we have to take our hat off and appreciate the government in this matter," he said.
While regarding the implementation in the field, the government has been guaranteed and will be implemented properly.
"We, with this rule, should have been able to guarantee & must be implemented. There is no reason not done. Ministerial Regulation No. 29 of 2016 has been issued. That means it must be implemented, "said Djamaluddin.
Likewise with the socialization of the regulation, Djamaluddin stated that he had provided information to all stakeholders.
"Already told, the PP has been issued. After being released, people are considered to know. "The Ministry has also socialized, it has been delivered in meetings, also in our information system through our land information," he explained.
Until now there are several factors that are the reasons for foreigners to buy property in Indonesia. Meiko Handoyo revealed, there are two reasons foreigners want to buy property in Indonesia.
First is foreigners who buy property because it will be used for their residence. Most of them are expatriates who work in this country for a long time, or those who need a location with a comfortable climate to avoid winter.
"Usually areas such as Bali and Batam are their target. The second reason is for investment motives," Meiko said.
While according to the chairman of the REI (Real Estate Indonesia) DPD Batam, Achyar Arfan, the close distance to Singapore makes Batam potential ogled by foreign buyers. Property prices in Batam are much cheaper than the closest areas in Singapore and Malaysia.
Moreover, Batam's position which is easily accessible from Singapore, every 30 minutes there is a ferry, which is one of the convenience for foreign buyers.
Resort-type property prices in Batam are still in the range of Rp. 15 million per square meter, or around Rp. 2 billion per unit. While the price of a 3-room apartment on the outskirts of Singapore has reached the range of Rp. 10 billion.
"The comparison is around 1:11, property prices in Batam are still much cheaper, with better building quality," he said.
But unfortunately, many do not know that this can be done. When met in the Serpong area, South Tangerang, Rick, a citizen (WN) of the Netherlands said that before becoming a citizen, he really wanted to buy property in Indonesia.
"I and also there are several foreign friends in the area and in Jakarta, they are just like me, wanting to buy (own) property in Indonesia, because Indonesia is beautiful," he said, who began to speak fluent Indonesian on Tuesday
Now Rick, who has lived in Indonesia for dozens of years, has already bought property at Nuvasa Bay in the Nongsa Area, Batam, Riau Islands. But some of Rick's friends who are foreigners, are still not aware of any new rules that allow foreigners to own property in Indonesia.
William, another Singaporean who also wants to own property in Indonesia is another story. According to him, having property in Indonesia legally and technically makes it possible, especially ownership for an apartment.
"There is no doubt for Singaporeans who might want to own property in Indonesia. It could be for investment or vacation or for retirement plans, "he said.
Friends of foreigners Rick & William may be just a few of the thousands of foreigners who cannot own property in Indonesia, even though they are already married to Indonesian citizens once and live decades in the country.
However, the issuance of Government Regulation (PP) No. 103 of 2015 concerning Housing Ownership or Residential Houses by Foreigners began to provide fresh air, and made foreigners interested in entering and buying property in Indonesia.
According to the Director General (Director General) of Legal Legal Relations, Ministry of Agrarian & Spatial Planning, Djamaluddin, for property ownership in Indonesia by foreigners the provisions now exist in Ministerial Regulation No. 29/2016 related to implementing regulations of PP No. 103 of 2015.
"Prices, costs, other rules are discussed there," he said.
The government's step immediately received appreciation from various property groups and practitioners.
Appreciation
Property broker from Century 21 Indonesia, Meiko Handoyo appreciates the government's steps in regulating property ownership by foreign nationals (WNA). According to Meiko, the matter of foreign investment in the property sector in Indonesia was influenced by the rules of three institutions, namely BPN, immigration and taxation.
"The current rules are better even though they still need to be improved, but we have to take our hat off and appreciate the government in this matter," he said.
While regarding the implementation in the field, the government has been guaranteed and will be implemented properly.
"We, with this rule, should have been able to guarantee & must be implemented. There is no reason not done. Ministerial Regulation No. 29 of 2016 has been issued. That means it must be implemented, "said Djamaluddin.
Likewise with the socialization of the regulation, Djamaluddin stated that he had provided information to all stakeholders.
"Already told, the PP has been issued. After being released, people are considered to know. "The Ministry has also socialized, it has been delivered in meetings, also in our information system through our land information," he explained.
Until now there are several factors that are the reasons for foreigners to buy property in Indonesia. Meiko Handoyo revealed, there are two reasons foreigners want to buy property in Indonesia.
First is foreigners who buy property because it will be used for their residence. Most of them are expatriates who work in this country for a long time, or those who need a location with a comfortable climate to avoid winter.
"Usually areas such as Bali and Batam are their target. The second reason is for investment motives," Meiko said.
While according to the chairman of the REI (Real Estate Indonesia) DPD Batam, Achyar Arfan, the close distance to Singapore makes Batam potential ogled by foreign buyers. Property prices in Batam are much cheaper than the closest areas in Singapore and Malaysia.
Moreover, Batam's position which is easily accessible from Singapore, every 30 minutes there is a ferry, which is one of the convenience for foreign buyers.
Resort-type property prices in Batam are still in the range of Rp. 15 million per square meter, or around Rp. 2 billion per unit. While the price of a 3-room apartment on the outskirts of Singapore has reached the range of Rp. 10 billion.
"The comparison is around 1:11, property prices in Batam are still much cheaper, with better building quality," he said.
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