foreign ownership in a property in Indonesia must be completed

The issue of foreign ownership in a property in Indonesia must be completed before the World Congress of the International Federation of Real Estate in Bali in May 2010. This problem is resolved to urge Indonesia property industry more attractive.

Thus disclosed Minister of Housing Soeharso Monoarfa, Chairman of the Board of Real Estate Indonesia Teguh Satria, Vice Chairman of the Chamber of Commerce Property Division James T Riady, Tuesday (12/1/10).

Minister for Public Housing Soeharso Monoarfa asserted, the issue of foreign ownership is still being discussed, and certainly much better end soon. Meanwhile, DPP Chairman REI Teguh Satria Center foreigners wishing rule Indonesia may have the property can be launched before the FIABCI congress in Bali.

Currently the property business in Indonesia less competitive than in Asian countries such as Singapore, Malaysia, Thailand, China, UAE. "The right of land in Malaysia and Singapore can reach 99 years, even up to 999 years," he said. In Malaysia, there are programs "my second home", in Thailand there are programs "long stay", while in the Philippines there is the program "retired" are all invited foreigners to own property there. "Only the left Indonesia since the rules do not support the property industry," said Teguh.

James Riady: 80 Years Together
Meanwhile, Vice Chairman of the Chamber of Commerce Property Division argues James T Riady, the government should solve the three issues before the FIABCI World Congress held in Bali.

"First, the Chamber of Commerce requested the right of every citizen has a residence or home respected. Bagiamana major asset to residents of high-value and can be used as working capital. Because it can Hak Guna Bangunan and 80 years. We're always extended. Just imagine if every citizen of assets have value and can be mortgaged to trade, "said Riady is also CEO of Lippo Group.

Second, said James Riady, foreign ownership was allowed until 70-80 years. "In Singapore could even 99 years, even 999 years. We give way to a foreign party to participate in building Indonesia. And this country has done well as other Asian countries, including China and the UAE," he said. In essence, he says, do not be too restrictive foreign, but give incentives. Suppose the examination at the airport do not need convoluted. "Stranger's carrying a big domino effect. They had a maid, chauffeur, doctor and others," he said.

Third, the term for both strata title offices and apartments, and the right of use, put together into the term right of use. "If these three things can be done by the government before the FIABCI Congress held in May, the property industry in Indonesia will move. All this time the property industry in Indonesia has not moved, but in many countries, the property industry is moving," he says, adding, this could achieved without having to wait for legislation so.

Lippo Group CEO says foreign ownership of property in Indonesia should be limited, over 100,000 U.S. dollars or approximately USD 1 billion, referring to the upscale apartment prices in Jakarta between 10 million and 20 million U.S. dollars. This policy will boost the development of new infrastructure and, most importantly, the property industry will become more compelling.

Tips Buying property abroad

Buying property abroad is not as easy as buying clothes at the mall that could be taken immediately, paid, and then taken home. Before buying property abroad, you must understand the rules that apply in the two countries.

Well, the first thing to understand is the rules of property ownership by foreign citizens (foreigners). In Indonesia, foreigners will not get the property when buying property. However, not abroad. "There could be property, but there is also the right to use," said Anton Sitorus, Research Manager of Jones Lang La Salle.

With property rights, of course you will be benefited. Therefore, these products will be yours forever. However, if you only use right pocket, a right that was true a few years.

In Singapore, for example, there could be property, there is also the only use rights. "But the right point in a long time, is 99 years," said maikel Tanuwidjaja, Assistant Marketing Manager Far East, a company the largest private property developer in Singapore.

If you already understand the rules, then it is time buyer chose property projects. Factor to consider is the location. "For those who want to invest, certainly should be able to choose a location that could be profitable in the future," said Anton.

Choose a strategic location, close to transportation access. In addition, close to public facilities, such as hospitals, malls, and educational center. Also make sure that the apartment is not in a flood area. "If the flood area, fitted later sold again, the price falls," said Anton.

Then, consider the legality of factors. However, you do not worry fled the apartment developer mangkrak project or building specifications that are not in accordance with drawings and brochures on billboards. "In Indonesia, probably many cases like this, but never overseas," said maikel.

Foreign Ownership Prior to renovation FIABCI World Congress

Foreign ownership in the property in Indonesia must be completed before the World Congress of the International Federation of Real Estate in Bali in May 2010. This problem is resolved to urge Indonesia property industry more attractive.

Thus disclosed Minister of Housing Soeharso Monoarfa, Chairman of the Board of Real Estate Indonesia Teguh Satria, Vice Chairman of the Chamber of Commerce Property Division James T Riady, Tuesday (12/1/10).

Minister for Public Housing Soeharso Monoarfa asserted, the issue of foreign ownership is still being discussed, and certainly much better end soon. Meanwhile, DPP Chairman REI Teguh Satria Center foreigners wishing rule Indonesia may have the property can be launched before the FIABCI congress in Bali.

Currently the property business in Indonesia less competitive than in Asian countries such as Singapore, Malaysia, Thailand, China, UAE. "The right of land in Malaysia and Singapore can reach 99 years, even up to 999 years," he said. In Malaysia, there are programs "my second home", in Thailand there are programs "long stay", while in the Philippines there is the program "retired" are all invited foreigners to own property there. "Only the left Indonesia since the rules do not support the property industry," said Teguh.

James Riady: 80 Years Together
Meanwhile, Vice Chairman of the Chamber of Commerce Property Division argues James T Riady, the government should solve the three issues before the FIABCI World Congress held in Bali.

"First, the Chamber of Commerce requested the right of every citizen has a residence or home respected. Bagiamana major asset to residents of high-value and can be used as working capital. Because it can Hak Guna Bangunan and 80 years. We're always extended. Just imagine if every citizen of assets have value and can be mortgaged to trade, "said Riady is also CEO of Lippo Group.

Second, said James Riady, foreign ownership was allowed until 70-80 years. "In Singapore could even 99 years, even 999 years. We give way to a foreign party to participate in building Indonesia. And this country has done well as other Asian countries, including China and the UAE," he said. In essence, he says, do not be too restrictive foreign, but give incentives. Suppose the examination at the airport do not need convoluted. "Stranger's carrying a big domino effect. They had a maid, chauffeur, doctor and others," he said.

Third, the term for both strata title offices and apartments, and the right of use, put together into the term right of use. "If these three things can be done by the government before the FIABCI Congress held in May, the property industry in Indonesia will move. All this time the property industry in Indonesia has not moved, but in many countries, the property industry is moving," he says, adding, this could achieved without having to wait for legislation so.

Lippo Group CEO says foreign ownership of property in Indonesia should be limited, over 100,000 U.S. dollars or approximately USD 1 billion, referring to the upscale apartment prices in Jakarta between 10 million and 20 million U.S. dollars. This policy will boost the development of new infrastructure and, most importantly, the property industry will become more compelling.

Property prices in China The Higher, Investors and Bankers Worried

Many investors and bankers more concerned with property prices continuing to rise in major cities of China. They were afraid, this property price bubble will pop the next crisis.Shenzhen, China

So it is with the Government of China. On Sunday (10/1/10), China's Cabinet said, would monitor the flow of capital to stop the speculation in the property market in China. The government also increased the down payment on a house. Every family that China will buy a second home, must submit a deposit of at least 40 percent.

For investors, this bubble was a warning. Because of low interest rates, property prices in Shanghai and Beijing more than doubled in less than four years.

Most buyers expect that China's house prices rose from day per day. As a result, they kept trying to buy new assets, but it was beyond their means. A broker said, buyers typically make a false payroll to get bank loans.

Some economists and bankers fear, a phenomenon in China this will trigger a crisis such as occurred in Japan in the late 1980s and the United States in 2009. Big bubble housing loans, ended with the destruction, failed banks and a slow recovery.