http://www.thejakartapost.com/news/2015 … l#24433328
The government is close to finalizing a regulation that would allow foreigners to own apartments after President Joko “Jokowi” Widodo approved the proposal, top government officials have said.
The President has agreed in principle to the idea of allowing foreigners to own Indonesian residential assets to boost the attractiveness of the local property sector, Teten Masduki, a member of the President's communications team, said in a recent statement.
Coordinating Economic Minister Sofyan Djalil confirmed on Wednesday that the new regulation would be issued after it had been finalized in the upcoming two or three Cabinet meetings.
Sofyan insisted that the regulation, which would allow foreigners to own a flat with a value of more than Rp 5 billion (US$375,000), would not trigger a price bubble in the property sector, as it was specifically targeted at, and limited to, the luxury-apartment market.
Handy for rich chaps.
