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Govt to wrap regulation on foreign property ownership in September: Minister
Sofyan Djalil
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Sofyan Djalil. (JP/Jerry Adiguna) (JP/Jerry Adiguna)
Sofyan Djalil. (JP/Jerry Adiguna)
Coordinating Economic Minister Sofyan Djalil said on Thursday that the government was aiming to finalize a regulation that would allow expatriates to buy luxury properties in Indonesia in September.
'We will discuss the technicalities. We will set up a coordination meeting to discuss this new regulation. Hopefully, in the next two to three months, all will be clear,' Sofyan said as quoted by tribunnews.com.
The minister said his team was currently discussing requirements for expatriates interested in buying property in Indonesia.
Sofyan said he hoped the regulation, which would allow foreigners to own an apartment with a value of more than Rp 5 billion (US$372,787), would have a positive effect on the economy, such as through new employment, increased purchasing power and a robust property sector. (ika)(++++)
