Foreigners can buy houses here<\/p>\n
JAKARTA (JP): President Soeharto said yesterday that
\nforeigners can buy and lease their houses in Indonesia provided
\nthat the lease is arranged by a domestic company.<\/p>\n
\"Foreigners can now buy houses here. And if they return to
\ntheir home countries they can rent them out through an Indonesian
\ncompany,\" Minister of Public Housing Akbar Tandjung quoted
\nSoeharto as saying here.<\/p>\n
Akbar, who met the President at the Merdeka Palace here
\nyesterday, pointed out that Soeharto was commenting on the newly-
\nissued Government Regulation No. 41\/1996, which allows foreigners
\nto buy a house in Indonesia.<\/p>\n
The minister said that foreigners, however, are not allowed to
\nbuy houses with subsidized loans.<\/p>\n
The government only provides subsidies for low-income people
\nto buy low-cost housing.<\/p>\n
Akbar said that in implementing the regulation, the government
\nwill make sure that there will be no foreigner having more than
\none house in the country.<\/p>\n
During yesterday's meeting, Akbar also reported to the
\nPresident on the civil servants home savings fund, which was
\nbegun by the government in September 1993.<\/p>\n
The fund, which is derived from money deducted from civil
\nservants salaries every month, is deposited in state-owned Bank
\nTabungan Negara. It is designed to help civil servants buy their
\nown houses.<\/p>\n
\"The fund now has Rp 510 billion (US$220.8 million),\" said
\nAkbar.<\/p>\n
According to the minister, the government is now trying to
\ndevelop a similar savings fund for the private sector.<\/p>\n
\"We'll soon issue a new regulation on the application of such
\na fund to private company employees,\" he said. (13)<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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