SusanSydney
Hi all,Have seen somewhere on here some info about both cost and time taken to change milik to PakaiBut now I can't find it.I won't be buying/leasing until four years hence but am champing at the bit so research has become a substitute for action.Asking because when I use Google advanced to search using Bahasa Indonesia I find rumah dijual much cheaper than villa for sale in english.But of course if the process takes too long it would be an annoyance to vendors.Any help would be appreciated!Kate (stuck in Sydney)
davita
Hi Kate (stuck in Sydney) and welcome to the forum.If you google for K3NI or Susi Johnston...you will find lots of info concerning converting Hak Milik to Hak Pakai.IMO property in Bali is totally overpriced...very little is actually being sold. In 4 years some of the problems associated with foregners owning Indonesian property may be resolved....or maybe not!
SusanSydney
[b]Similarities with Sydney![/b]Hi Davita,Thanks for your quick reply. I should have remembered that so much of the Johnston story was about the long process of changing Milik to Pakai - but then, my situation will not be complicated by an antagonistic nominee - just a vendor planning to sell Milik and maybe reluctant to wait for me to find out if I can get it switched to Pakai!Your comment about the issues with foreigners buying property and also the overpriced bit could be written about Sydney at the moment. We just had a case where a Chinese business bought a house for $15 million Australian dollars and our federal treasurer forced them to sell it to someone else. As it turned out it was then bought by another Chinese Anyway.Thanks againKate
davita
I'm not sure of process Kate but I'd think it was up to the vendor to change title from Hak Milik to Hak Pakai before you bought.When you glean more info from your research it would be appreciated if you post your findings....will be helpful to others.Edit: I use the word 'vendor' as I was following your post but I really mean the owner. It could be the vendor/seller is a WNA and the property is 'owned' by a nominee...in which case the nominee would be required to transfer the title.Edit: BTW Markit is correct....there was a recent report that the Government was thinking of permitting foreigners to own luxurious apartments but no talk of owning land.....[url=http://www.thejakartapost.com/news/2015/05/18/foreign-ownership-apartments-considered.html]Foreign ownership of apartments considered | The Jakarta Post[/url]
Markit
Hi Kate (stuck in Sydney) and welcome to the forum.If you google for K3NI or Susi Johnston...you will find lots of info concerning converting Hak Milik to Hak Pakai.IMO property in Bali is totally overpriced...very little is actually being sold. In 4 years some of the problems associated with foregners owning Indonesian property may be resolved....or maybe not![/QUOTE]Yeah welcome. Fact is: if you aren't gonna buy for 4 years anything you learn now is probably a waste of time. The only thing that doesn't change in Indo is that everything changes. IMHO K3NI are gold-diggers riding on the artificial wave of angst generated by such as Susi Johnson who is beating the property drum for her own reasons. Up to you what you believe.My personal opinion is that something is moving within the Indo government towards liberalizing property ownership by foreigners and my nasty suspicious nature also thinks that someone is trying to cash up by scaring the be-Jesus out of the weak-kneed into selling and getting out - cheaply before it happens! But what do I know?
SusanSydney
Markit thanks,All your remarks are probably true.But I have to keep planning ahead to stop myself from going mad - only thing stopping me coming now is my daughter still at Uni in the first year of a 4 year degree.Will certainly post more when I get a clearer picture!Kate
spicyayam
It is the kind thing you need to ask a notary directly. I don't believe there is any set price.[COLOR=#333333]my daughter still at Uni in the first year of a 4 year degree.[/COLOR][/QUOTE]So what is holding you back?:icon_wink:
davita
I won't be buying/leasing until four years hence but am champing at the bit so research has become a substitute for action.Any help would be appreciated!Kate (stuck in Sydney)[/QUOTE]If your action plan is 4 years away my advice would be to learn about the economic development of Indonesia as a whole and not lock yourself into the 'Bali villa dream'.In this parliament's plan the growth targets are already described as too ambitious. The government thinks it can maintain a GDP growth between 5.8 and 6.2% by next year. No responsible economist agrees and if the US Feds raise interest rates watch the Rupiah plummet. The growth rate...to be realistic....needs to be double digit. 43% of Indonesian population are under 25 and ill-educated...they need skilled jobs which are not forthcoming because of the low economic investment climate, corruption, difficulty to get anything done, infrastructure and...ok I'm ranting; but there is plenty to rant about. Heck I can't even get this internet to work.Today's Jakarta Post is awash with bad economic forecasts for Indonesia and, meanwhile, the House of Representatives is prioritizing a draft Bill to ban all alcoholic drinks.:grumpy:In 4 years you may pick-up a resort or two at rock bottom prices....but then there may not be enough people coming to fill the rooms...still, should make nice palaces. On the other hand...given serious changes and proven management skilled people in charge...you might not afford to come.
SusanSydney
If your action plan is 4 years away my advice would be to learn about the economic development of Indonesia as a whole and not lock yourself into the 'Bali villa dream'.In this parliament's plan the growth targets are already described as too ambitious. The government thinks it can maintain a GDP growth between 5.8 and 6.2% by next year. No responsible economist agrees and if the US Feds raise interest rates watch the Rupiah plummet. The growth rate...to be realistic....needs to be double digit. 43% of Indonesian population are under 25 and ill-educated...they need skilled jobs which are not forthcoming because of the low economic investment climate, corruption, difficulty to get anything done, infrastructure and...ok I'm ranting; but there is plenty to rant about. Heck I can't even get this internet to work.[SIZE=5][B][SIZE=5][SIZE=6]Well when it comes to economics I'm afraid you lost me when you said "listen carefully"........Except to say that I'm hoping Sydney house prices keep pace with those of Bali - I guess they won't but I like to imagine it will be the case. Certainly we're having what some people describe as a "bubble" here right now and when we get those they never seem to settle down afterward by more than 5%. So here's hoping.A resort or two? Could be useful - how many stills would fit into an average foyer?As for banning all alcoholic drinks, I guess that would so wreck the tourism industry that, yeah, I could definitely afford to come to Bali. (Have no interest in living anywhere else in Indonesia). Likelihood of it being successfully passed without an exemption for tourism areas? So low that if it did happen that way, I would have to assume that the culture of Bali would be also changed in ways that one can only guess at, and be very fearful of.Thinking positive![/SIZE][/SIZE][/B][/SIZE]"Today's Jakarta Post is awash with bad economic forecasts for Indonesia and, meanwhile, the House of Representatives is prioritizing a draft Bill to ban all alcoholic drinks.:grumpy:In 4 years you may pick-up a resort or two at rock bottom prices....but then there may not be enough people coming to fill the rooms...still, should make nice palaces. On the other hand...given serious changes and proven management skilled people in charge...you might not afford to come.[/QUOTE]
