Tue, 06 Feb 2007
JAKARTA: Tourism business the Panorama Leisure Group is planning to build a boutique hotel and apartment complex in Seminyak, Bali in what the management says is a vote of confidence in the island's tourism prospects.

Panorama management said in a statement that it would build the complex, the Haven Villa and Apartments, in the second quarter of 2007, with operations expected to commence at the end of 2008.

To date, the complex, which consists of seven villas and 60 apartments units, has been well-received, with the villas all having been sold out.

The management is now therefore focusing on selling the apartment units, at a price averaging at US$200,000 for a one-bedroom apartment and $340,000 to $380,000 for a two-bedroom apartment.

To attract more buyers, the group is offering a 6 percent guaranteed rental return per annum for the first three years of operation. -- JP


Tue, 06 Feb 2007
From: JakChat
Comment by doremi
To attract more buyers, the group is offering a 6 percent guaranteed rental return per annum for the first three years of operation. -- JP

So if I buy this one-bedroom flat in Bali for $200,000, I can then rent it out for $1000 USD a month? (guarantee according to this).
Question to all you expats, is that a reasonable rent???


Tue, 06 Feb 2007
From: JakChat
Comment by KuKuKaChu
i would not believe too much of what they claim.

the very first question you should be asking is, "do i own it?"

in this case, i can guarantee that the answer will be "no".


Tue, 06 Feb 2007
From: JakChat
Comment by doremi
If I paid $200,000 wasn't the apartment mine, Kuku? I'm not clear on your last stmt.


Tue, 06 Feb 2007
From: JakChat
Comment by KuKuKaChu
Originally posted by: nwgirl
If I paid $200,000 wasn't the apartment mine, Kuku? I'm not clear on your last stmt.

ask them, what sort of title will i get? the answer will be a lot of mumbo jumbo about Hak Milik and nominees. villa ownership by foreigners in Bali is a house of cards that's going to collapse sooner or later.

basically, foreign nationals cannot own property in Indonesia. the only way a foreigner can secure property rights is through use of a PMA company which owns the property on their behalf.

for fuller discussion on this see http://okusiassociates.com/garydean/works/landlaw.html


Tue, 06 Feb 2007
From: JakChat
Comment by doremi
I'll heed your advice.

Thanks for the link (will check it out later).



News Search/Filter
Transaction Rates
18 Oct 17
Buy
Sell
BTC1
74,367,722
74,367,722
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services