Indonesia looks to revise foreign ownership regulations

Friday, 05 March 2010 23:59

Indonesia´s state minister for Public Housing Suharso Monoarfa said he would propose revision of regulation on foreigner ownership of property in the country.

Suharso said he wants to give foreigners longer ownership to 95 years from 25 years at present to help revive the property sector. He said the revised regulation is expected to be effective by the end of June this year.

He added the type of property that could be owned by foreigners are ones with prices between US$150,000 to US$200,000.

Source: Property Report
March 5th, 2010