The minimum sale prices drop for expat apartment purchases in Jakarta by IDR 2 billion. The revision by the Indonesian government was made in hopes to attract more foreign property purchases in Jakarta.
However, all of the other property purchase minimums have been raised for expats in all other zones. The minimum purchasing bumps across other regions in Indonesia range from IDR 1 billion to IDR 2 billion between both landed house and apartment.
Indonesia is known for their tight restrictions on foreign investment, in order to protect Indonesian people in the property market. It was just in 2015 that the government decided to allow foreigners to “own” property but rather under the conditions of “right to use,” which still carries restrictions of its own.
Although the reigns are still tight on foreign investment and ownership in the country, Indonesia is still taking small steps in their own way to lure in expat spending.
