Premhouse.com JAKARTA | Indonesia has allowed foreigners to own
houses for up to 80 years in an effort to show a friendlier face to
people who might come and bring investment with them. The Cabinet Secretariat said on its website on Tuesday that
President Joko Widodo signed a regulation late last year giving
foreigners the right to buy a landed house for three decades, with a
possible extension of another 50 years.
To be eligible, the foreigner has to live, work, or invest in
Indonesia, and “provide benefit” to the country, the cabinet secretariat
said. Under previous rules, foreigners could buy houses for 25 years, and extend for a further 25 years. Indonesia has already relaxed ownership rules for apartments,
allowing foreigners to buy units worth more than 10 billion rupiah
($720,000). Reuters
Source: Indonesia Allows Foreigners to Own Houses for Longer
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