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Premhouse | A Foreign Investor’s View: Will Indonesia’s Economy Recover?

Premhoise.com JAKARTA | By James Castle - After five years of steadily deteriorating economic performance, the Indonesian economy may be in the process of turning around. After reaching a 21st-century high of 6.4 percent in 2010, the country’s GDP growth rate has been lower every year since. It is unlikely to be higher than 4.7 percent this year, the lowest level since the 2009 global crisis.

There are now some signs that the slump may be ending, however, and 2016 growth may exceed five percent. What caused the last five years of decline? What is causing the fledgling recovery and what are its prospects for success?

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.

Premhouse.com JAKARTA | On 28th December 2015, Indonesia put into effect a new regulation stipulating revised and newly-introduced rules on property ownership for foreigners. The Joko Widodo administration last year hinted at a complete regulatory revision to the now defunct Government Regulation No. 41 of 1996 (See Indonesia Opening the Door to Foreign Ownership of Property). While the new regulation – Government Regulation No. 103 of 2015 regarding the Ownership of Homes or Residences by Foreigners Residing in Indonesia – sheds light on the legal rights for foreigners seeking to purchase a home in Indonesia (See Ownership of Homes or Residences by Foreigners in Indonesia), it is not considered a groundbreaking policy.

Though Government Regulation No. 103 of 2015 clears up several ambiguities that plagued the original law on foreign ownership of property including eligibility requirements and inheritance issues, property consultants and industry analysts remain underwhelmed. The primary criticism of the regulation is its failure to allow property purchases by foreigners residing and working outside of the country which therefore limits the potential of Indonesian property as an investment vehicle.

Premhouse.com JAKARTA | Jakarta is one of the world’s busiest, largest and most populous cities. The Indonesian capital is ranked as the 9th largest city and 13th most populous city in the world. As the center of governance and business, the city attracts more and more people (Indonesians as well as expats). Indonesians come to Jakarta in search of better education, work and above all luck. Expats mostly for the latter two. Adding to the estimated 10-15 million people, this is not without consequence. The traffic is pure mayhem and living costs soar.

Jakarta Living Cost: Housing/Accommodation

For expats, renting an apartment is probably the most convenient way of living in Jakarta. The city’s property sector has been growing rapidly throughout the past decade, as the need for strategic-located housing increased. Traffic jams have also contributed to this rapid boom. Traffic jams eat time, money and patience, so location becomes even more important when you want to settle down in Jakarta. If you work in the business district, be sure to find housing in the vicinity, or with good access to and from the toll road.