Housing-Estate.com, Jakarta – Entrepreneurs properties are still not satisfied with the terms of property ownership by foreigners. Regulation of the Minister (Candy) Agricultural and Spatial Planning / National Land Agency (ATR / BPN) No. 29 Year 2016 about it is considered less flexible. Though property ownership by foreigners is very important in the era of globalization and the free market.
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“We appreciated the rules for foreigners buying property already out, but if it remains unclear as now it can be difficult of the bureaucracy. We’ve lost a neighboring country about the ease of foreigners who buy property, which makes it difficult to enter the Indonesian capital and prefer to Singapore and Malaysia, “said President Director of PT Summarecon Agung Tbk, Adrianto P. Adhi, to housing-estate.com in Jakarta, Tuesday (22/11).
Indonesia is considered less advantageous for instruments including real estate investment funds (DIRE) or instrument real estate trust (REIT). Therefore, according to Adrianto, Candies about the ownership of the property of foreigners needs to be assessed in order to better provide convenience. For example about the ownership of the 80 years that had to be extended twice, the first 30-year period was extended 20 years and the next 30 years. While in Singapore foreign direct ownership by 90 years as well as Malaysia.
Adrianto also highlighted about the residence permit and conditions that can be purchased per family rather than the individual. This rule assessed limit because if one family member has been buying other family members can not buy anymore. “Technical Rules like this should be made clear, we were already well known so the state bureaucracy and long convoluted yet uncertainty rules that make people hesitate. It should be more flexible, given directly to 80 years for the rights of foreign doubt later after 30 years of what can be extended, “he concluded.
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