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Buying property - Bali versus Phuket

Discussion in 'Bali News - Indonesia News' started by balinews, Jul 23, 2010.

  1. balinews

    balinews Member

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    An interesting article in Time on Bali's and Phuket's property market.

    Buying property in both places isn't quite as simple as purchasing a house back home. Mortgages are rare. Currency fluctuations make buying at the right time all the trickier. And, most importantly, in both Thailand and Indonesia, foreigners cannot own land. Expatriates have two choices. They can either lease land on a long-term basis, which means the value tends to depreciate as the years pass. Or they can set up legal structures in which a local person or company owns the land but usage rights are held by the foreigner. Although tens of thousands of expatriates have negotiated such deals, they can be at a disadvantage should a dispute occur with the local owner.

    Read more: Travel: A Tale of Two Islands - TIME
     
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