What is Condotel?

Premhouse.com JAKARTA | Condotel Law and Legal Definition: a condotel is a lodging that is a hybrid of a condominium and hotel, by being operated as a commercial hotel even though the units are individually owned. A condotel has rental and reservation desks, short-term occupancy, food and telephone services, and daily cleaning services. Rooms in hotels are sold individually to buyers who typically continue renting them to vacationers. In-house management companies rent out the units on behalf of their owners in exchange for a percentage of the rental income. 

We provides the service for condotel for those who are looking for a home away from home! We have the perfect place for you. Our condotel service is established in response to a need for good quality accommodation in Jakarta, which is aimed to provide our clients with the utmost in comfort and relaxation at an affordable price for certain period of time.

10 Factors Why Your House is Hard to be Sold!

Premhouse.com JAKARTA | Hire a real estate agent to accelerate your house selling! | Are you willing to sell your house? You think you have delivered the best effort to meet this purpose but it is seemingly still hard to get the right buyer? Here is a summary of the main factors which might cause you get difficulties to find the right buyers:

1. The price is too expensive

Like or dislike, you might feel free to determine the right price for your house. Nevertheless, whether it will be sold or not, the price plays an important role. In order to ease yourself in finding a reference for its market price, it is important to compare your house price to the ones around your neighborhood. If you start with the price that is too expensive, it is surely hard to be sold.

Premhouse Useful Information | Property Tips

The growth in annual demand within the Jakarta residential market is predicted to outpace supply growth in 2012 and 2013 and lead to a continuation of the land price increases in all areas. What makes this property sector perform consistently well in spite of Jakartan’s lifestyle shift to high rise living?

The following are excerpts of an interview with property consultant, Cushman & Wakefield, related to the current condition of the Jakarta landed house market: 

Question: What is the current trend in landed house?  

Answer: Positive growth in sales rates was observed in all areas during 2011. The demand growth of landed residential units was still higher than supply growth. In some prominent residential estates, developers trusted track records, access to activity locations and comprehensive infrastructure and facilities were the main considerations in buying decisions. National economic stability and decreasing KPR (housing loan) rates were also supporting factors during 2011, which successfully improved the purchasing motivation of prospective consumers. 

Investor or Speculators?

When would be taking a decision to become an investor in property industry, which typical characteristics possessed by an investor that you should have? What kind of investor profile that is good?

As an investor, are you a person who tends to speculate or doubtful type? There are many people who want to become property investors but they only keep thinking of it and finally never take any actions. Or you are probably a person who likes spending money quickly without thinking any longer and this makes your investing decision become a failure.

Gary Keller, an author of Millionaire Real Estate Investors, used to conduct a research about people who are interested to be the property investors and based on this result, he divided the types.

Strategy to Assess Property

The trend of property industry this year is surely predicted turning to be bullish on early second half of recovery time towards the peak period. In other words, this is the right time for investors to buy, before the price of property is reaching higher, so that they will be able to get high capital gains later.

                                                                                                       

However, it does not mean that the developers may sit nicely only waiting for the buyers to come. Before the bullish sign appears, they must be prepared for anticipating with some proven strategies. According to the capital market observer, Jimmy Dimas Wahyu, there are several issues that must be considered. Among others are to ensure that PREP (product, reputation, engagement and performance) are good.

Purchase of Property by an Expat or Indonesian Couple

The crucial preparation for purchasing property is whether or not the Indonesian spouse and the expat spouse have a prenuptial agreement for separation of property. If you do have this agreement, it would mean that the couple could legally purchase the property. This agreement must be signed before you are married.

Under Indonesian law property is jointly owned after marriage, unless there is a prenuptial agreement, and this means that property owned by the Indonesian spouse also becomes the property of the foreign spouse, which is illegal according to the Agrarian Law. Therefore the property must be sold within one year of marriage to a foreigner or converted from "hak milik" (right of ownership) to "hak pakai" (right of use) which decreases the value of the property. (Pasal 26 ayat 2) 

Using an Indonesian Nominee/Friend to hold your Title 

Another way that you can purchase a condo is by paying for the property but putting the title in the name of an Indonesian citizen. Needless to say, this must be someone you trust implicitly since, according to the law, this person would be the legal owner, no matter what verbal or written agreement that you may have between the two of you.

Buying Property in Indonesia

For many years Indonesia has decreed that land in Indonesia can only be owned by Indonesian citizens. Thus, if you want to buy a house (as a foreigner), this would have been legally impossible.

In the late 90s, new laws were enacted so that foreigners are permitted to purchase apartments and office space in Indonesia, IF the building has a strata title status. This enables the foreigner to own the apartment or office space but not the land on which it stands.

Further laws were passed in 2010 which may make it easier for expats to hold 70-year leases on land, but the particulars/interpretation/implementation of the law isn't always clear.

Indonesian Agrarian Law, Law No. 5 of 1960, governs the ownership of land in Indonesia. In it is a category of land ownership called "Hak Pakai" which mean the right to build on/use the land.  As stated in this law, foreigners are only permitted to purchase land or homes under the “Right to Use” (Hak Pakai) title.

Enjoying the Green Views around Pondok Indah!

Pondok Indah is the closest neighborhood to the Cilandak campus of Jakarta Intercultural School. Stately mansions line the major thoroughfare of Jl. Metro Pondok Indah, just south of Pondok Indah Mall I, II and III. A well planned community with tree-lined streets. Although it is a newer neighborhood compared to the Kemang or Cipete areas, the houses often lack the backyards that are a much enjoyed asset in the older expat neighborhoods. 

The commute to the the Golden Triangle could be as long as 45 minutes to one hour, depending on your destination and traffic congestion. Commute time to the British International School from the Pondok Indah area is around 45 minutes, however because the commute is going against the flow of traffic into the city, typically it is a smooth commute.   

Hunting Residence Around Kemang Jakarta

Some people call Kemang as a "village of expat". It may be a joke, but if you go around this area you would admit that it is true. There are some compounds, side by side with some large size houses with high gates, surrounded by building of business centers, malls, resto, cafe, galleries and apartments that are built so close to each other. In this area, not only locals but many expats you will see around the places, not only the housewives or mothers, but also those with the kids in the morning or during the day, but also male expats in the evening with business attires or casual look.

If you call Kemang, it is an area that traditionally has been popular to be Jakarta’s expatriate community to live in. This area provides availability of generous facilities, business center and the international school close by, as well as western supermarkets, like Kemchicks, Hero Kemang and Gourmet Garage, as well as a myriad of popular restaurants and bars. Kemang offers residents a self contained all-in-one living experience. 

House Hunting Tips in Jakarta

In Jakarta, the easiest way to find a house or an apartment is to use an agent. Alternatively, you can find ads for houses and flats for rent in the Jakarta Post newspaper. You can also find a lot of homes for rent (through agents) at the website  www.premhouse.com. If you are on a limited budget, finding a home on your own and negotiating a lease directly with the house or apartment owner, may cost you less, as the owner saves the fee that the agent usually gets. Small towns around the country will often not have property agents, and oftentimes also not many houses for rent, but the people in your workplace can help you find a place. In most cases the rent can be negotiated - whether you find your home through an agent or on your own.

Following are some tips and information that may be helpful for those who have recently arrived. The information is mainly geared to people who will be staying in Jakarta, but some of the info can be useful also if you are settling in other parts of Indonesia.

Premhouse SmartMap | Apartment for Living in Permata Hijau

Permata Hijau at Simprug is around 20 minutes from end of Jl. Sudirman where you can find beautiful house for rent or house for sale at a well planned area that have wide, tree-lined streets, good infrastructure and green view. The shopping malls nearby include ITC Permata Hijau, Beliza Shopping Center, Senayan City, Plaza Senayan and Gandaria City. The View at Pakubowono is one of most popular apartment for rent besides The Somerset at Jl. Panjang which connects it to the Pondok Indah and Jakarta International School. The roadway to access Permata Hijau is typical, that is highly congested due to busway service.

Premhouse SmartMap | Apartments for You, Located at Thamrin area, Central Jakarta

Apartment for rent at Thamrin City area includes several apartments: Cosmo Mansion, Cosmo Residences and Cosmo Terrace which are on top of Thamrin City shopping mall. Then there are Thamrin Residence Apartment that has five apartment towers and Thamrin Executive Apartment (they are quite creative with the naming, right?). All nine apartments in this area form the Thamrin City Area, just a walking distance to Grand Indonesia Shopping Mall and Jalan Thamrin and Sudirman.

Interior Design | Sharp Superb Apartment Interior Design

Passion of Interior Design accent combine some of touch in these awesome room and be refined with touch of modish touch. Sharp Superb Apartment Interior Design is one of great ideas, perfect placement and right decor makes this Interior Design showing a pretty design.  

Premhouse Design Reference | 10 Living Room Design Tips [2]

Use these living room design ideas to make your living room a comfortable, inviting place to gather with family and friends.
Related post Premhouse Design Reference | 10 Living Room Design Tips [2]

6. Arrange Furniture for Conversation

Living rooms are gathering spaces, so usefurniture arrangement to promote conversation and interaction. Pull seating pieces away from the walls and arrange them to face each other. If you have a large living room, break it into two conversational groups for a more comfortable, intimate feeling. Chairs andottomans that can be pulled into the group as needed allow you to expand the circle and still keep the intimacy.

Premhouse Design Reference | 10 Living Room Design Tips [1]

Use these living room design ideas to make your living room a comfortable, inviting place to gather with family and friends.

1. Set the Mood with Color

The colors you choose for your living roomwill affect how guests feel in the space. Colors can energize or relax the space, depending on how intense they are and how warm or cool they are. A serene scheme of soft blue and white makes this spacious living room feel calm, cool, and collected--a gracious setting for elegant gatherings. A light tan carpet underfoot warms the space and keeps the cool tones in balance.

Excellent House for Rent! Let's Visit at Townhouse Mutiara Jakarta!

Are you looking for a beautiful house that can be used a your home-office as well? Let's check this one of our properties! A Townhouse is a type of home that's usually constructed as a two or three-story unit with a common wall or walls bordering the adjacent unit. The common form of ownership is similar to a condominium project in that the property owner not only owns his or her respective unit, but also an undivided interest in any common area. 

Apartments versus Houses and Villas in Jakarta

Expats working in Jakarta's Central Business District will find that apartments are the most practical solution, especially to avoid spending hours each day stuck in traffic while commuting to and from the office.

When looking for accommodation in Jakarta, keep in mind that location is one of the most important factors. Expats will definitely save a lot of time by living close to their place of work, children’s school, hospital and other facilities. Jakarta suffers from major traffic congestion and this situation is continuously worsening.

Overview of the Booming Residential Property Sector of Indonesia

Indonesia's residential property market has shown robust growth in recent years as demand from the country's rapidly expanding middle class for mid-level and luxury property increased steadily amid a low interest rate environment and robust national economic growth. Demand for property is also backed by high consumer confidence as a recent Nielsen survey shows that Indonesians are among the world's most confident consumers. Indonesians' consumer confidence was at a four-year high in the fourth quarter of 2013.

6 Critical ‘Musts’ for Every Real Estate Investor

If you want your money to work for you, follow these rules! Investment in any industry isn't easy and real estate investment can be particularly challenging. Here are six things you need to get a handle on before you start pouring money into a real estate investment.

Effective Tips in Finding Property During Expo | Indonesia Property Expo 2015 at JCC on February 14-22

Jakarta | Kompas.com - Indonesia Property Expo 2015 in Jakarta Convention Center (JCC) has been being held from Saturday (14/2/2015) to January 22nd 2015. For those who have been looking for a house, there are many ways to find some references. In example, you can use a property search portal or go surveying the location of your dream house.

But please remember, there is another one way to get the information about the houses, i.e. to visit a property exhibition. This exhibition is usually held in particular period of time by respective parties, e.g. the government, developers and banks.