Indonesia Extends Foreign Ownership of Property

• Proeksa Meas
• 11 July 2016
• Local News
• 1361 Views

Indonesian President Widodo has signed a new regulation allowing extension of foreign ownership of houses to 80 years in a bid to boost investment in the struggling property sector.

Foreign investors can now purchase “right-to-use” property titles for 30 years, with a possible two stage extension of up to an additional 50 years. This revises a 1996 law allowing foreigners titles for 25 years with a possible extension for 25 years.

Foreigner buyers must live, work, or invest in Indonesia, and “provide benefit” to the country and can transfer the titles to alien heirs with residency.

Ownership rules for apartments have also been relaxed with a minimum investment required of $720,000.