Foreigners Allowed to Own Property in Indonesia Enhance Trust to Invest

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As the foreign direct investments keep increasing to come to Indonesia, one of the sectors benefited from it is the property. This is evidenced by the increasing number of foreign citizens who are interested in having their own houses in Indonesia.

Bhima Yudhistira, an observer from the Institute for Development of Economics and Finance (Indef), said that the more the number of foreign citizens who want to invest in property products the more benefits will be reaped by Indonesia.

“The government’s decision to open the opportunities for the foreigners to invest in the property sector, I think it is profitable,” he said on Sunday (5/28)

Bhima further said that foreign citizens started to be allowed to own the property products in Indonesia after the issuance of Government Regulation (PP) No. 103 Year 2015. The PP regulates the Ownership of Housing or Residence by Foreigners Living in Indonesia.

“One of the main points is regulated by the PP is the price of the house or apartment allowed to be bought and owned by foreigners, which is it must be more than Rp10 billion for a landed house and Rp 5 billion for an apartment,” he added. (okz/tpp)