Foreigners right to 'own' property may be extended<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Considering America has an average life expectancy of 77.7
\nyears and the Netherlands 78.8, one could assume the government's
\nplan to extend expatriates' permits for leaseholds on land
\nfrom 25 to 60 years would last most people \"a lifetime\".<\/p>\n
Particularly as people can usually only afford to buy a decent
\nplace in which to live in middle age -- unless, of course, you
\nare Paris Hilton.<\/p>\n
Minister of Public Housing Muhammad Yusuf Asy'ari said on
\nThursday that the government planned to revise a regulation and
\ngrant foreigners the assurance of property usage for 60 years,
\nnewsportal Tempointeraktif reported.<\/p>\n
Law No. 5\/1960 on land rules that only Indonesian citizens
\nhave property rights over land and buildings, including
\napartments and condominiums.<\/p>\n
Government regulation no. 41\/1996 stipulates that a non-
\nnational is only permitted to occupy a building or land for 25
\nyears, extendible by another 25 years twice.<\/p>\n
With the planned change to the regulation, non-nationals would
\nbe assured of occupancy for 60 years rather than having to renew
\nthe permit -- and still face the possibility of not getting a
\nrenewal -- after 25 years, Yusuf was quoted as saying.<\/p>\n
President Susilo Bambang Yudhoyono has no objection to non-
\nnationals \"owning\" property, as long as it does not create
\nsecurity problems, Yusuf said.<\/p>\n
It was unclear in the report when the regulation would change.<\/p>\n
Real estate analysts and developers have been urging the
\ngovernment to allow citizens of other countries to have property
\nrights here to help boost the country's property sales and
\neconomic activity as foreign investors would feel welcomed.<\/p>\n
To be able to stay or open an office in Indonesia, most
\nforeign businesspeople rent apartments or other property.<\/p>\n
Many foreigners married to Indonesians or those who simply
\nwant to retire in the country have long complained that they
\ncannot buy apartments or houses here.<\/p>\n
Some of them have bought houses or apartments under their
\nspouse's name, but problems can arise in the event that the
\nmarriage breaks down, or the spouse dies.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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