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Expat housing, and use of the Dollar

Fred

Expat housing is a strange issue for me as I just can't see the point of spending crazy amounts of money on a house when you can get somewhere perfectly good, but at far less cost.
It seems the immigration issues, and possible other factors are forcing prices down.
I was interested to note the continued use of the US dollar, now illegal in domestic transactions, wondering if anyone will stamp down on it.
Several electronics shops also quote in Dollars, I assume to try to screw extra cash out of me.
I always and immediately ask them to quote in Rupiah and, if they refuse, I walk out.



Jakarta. Slow demand for housing from expatriate markets is making landlords in Indonesia more accommodating to their customers, including by offering lower rents and providing additional amenities like home furnishing, a report from property market research group Colliers International said.

See also

Real estate listingsAccommodation in IndonesiaAccommodation in SurabayaAccommodation in BaliReal estate agencies in IndonesiaHousing in IndonesiaHousing for export
Fred

and now



Expats free to buy houses in special zones.

Take care, I can see issues with the constitution.

voz

Fred,
Would be interesting if you could extrapoliate on the comment -
'spending crazy amounts of money on a house when you can get somewhere perfectly good, but at far less cost.'

I am looking at buying in Lombok at this time with my Indonesian partner and know of the many implications of the buying process.

Cheers

Vin

saintjean

Everything depends where you want to live or where you are prepared to live. There are nice gated communities away from the general expat areas which are well suited for families, with good security, large houses and less greedy landlords. These are places where relatively wealthy locals and very few expats live.

But if need or want to be very central then you may have to pay the high prices if you want a nice place to live.

Ubudian

Vin writes, 鈥淚 am looking at buying in Lombok at this time with my Indonesian partner鈥︹

Not to pry into your personal business Vin, but by 鈥減artner鈥 do you mean wife, or are you planning on using the Indonesian 鈥渘ominee鈥 approach to land acquisition?聽 If the later, then please be aware that a foreigner 鈥渂uying鈥 land through a nominee is not considered legal unless you use a Hak Pakai lease.聽

Then again you might be talking about commercial land acquisition through your PMA?

Fred

voz wrote:

Fred,
Would be interesting if you could extrapoliate on the comment -
'spending crazy amounts of money on a house when you can get somewhere perfectly good, but at far less cost.'

I am looking at buying in Lombok at this time with my Indonesian partner and know of the many implications of the buying process.

Cheers

Vin


Lombok is lovely, but make sure you have a prenup if you intend to buy.
Indonesian law doesn't allow foreigners to buy land here, and you own 50% of anything bought by your husband/wife, so you could be in a hole.
If your partner isn't your marriage partner, such laws simply don't apply, but you still can't buy alone as Indonesian law doesn't permit it at this point in time.
Your partner (assuming personal relationship) can happily buy if he/she is Indonesian, but you risk your cash if that relationship breaks down, with no legal course of action to get it back.

As for getting ripped off:
If it's priced in US$, don't even look at it.
Check a selection of similar properties to make sure it's in the right price range.

Google, "Runah dijual <area of interest>"

zanzio

Hi Fred,
Jokowi plans to create rules that allow foreigners to own apartments in Indonesia.
But, the government will determine how much size the apartment, and not for land house.
we wait for the end of this November, hopefully realized.

Cheers

Fred

zanzio wrote:

Hi Fred,
Jokowi plans to create rules that allow foreigners to own apartments in Indonesia.
But, the government will determine how much size the apartment, and not for land house.
we wait for the end of this November, hopefully realized.

Cheers


I understand that is the case, but I see challenges to any such law from nationalist elements.