No minimum price for foreign property purchases says minister

balinews

The Indonesian government will not set a minimum value on homes that foreigners will be allowed to purchase, with a senior official saying the only restriction will be a prohibition on purchases of state-subsidized dwellings. Ferry Mursyidan Baldan, the minister of land and spatial planning, said on Wednesday that his office was drafting a regulation on the matter and would dispense with a previously proposed restriction that foreigners should only be allowed to buy property valued at Rp 5 billion ($373,500) or more. “I don’t think we need to have that minimum value,” Ferry told reporters at the State Palace in Central Jakarta, adding that with property prices constantly increasing, the restriction would be quickly outdated. “We shouldn’t set any [price] limits. As long as [the buyer] has a residence permit, they should be able to choose wherever they want [to live],” the minister said. “If we’re talking about houses built by property developers, [houses on] the open market, then there’s no need to mess with price limits. Just as long as no houses [built] with government subsidies [are sold to foreigners]. That’s not allowed.” No Price Limits on Property Ownership by Foreigners, Minister says - The Jakarta Globe

Markit

This is just gonna run and run and who knows where it's gonna end! Having read this article 3 times I am still looking for the word "apartment" which has been the basis for all previous bids from these clowns.

Nydave

I have to agree with the minister on this one,his thinking is correct,and makes total sence,however I doubt it will even be considered,because it is the complete opposite to the apartment debate,which doesn`t allow a foreigner to own an apartment on the ground level because of the grounding regulation, I have yet to see a house that's not grounded,thinking correctly and making sence in this country doesn`t carry much weight in government,therefore I agree with Markit ,this will go on forever and ever,

sherm

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