Indonesia to allow foreign ownership of property
June 26, 2015 - Indonesia
Indonesian Finance Minister Bambang Brodjonegoro is considering proposals allowing foreigners to own luxury property in Indonesia.
The current proposals under study would allow foreigners to purchase residential apartments worth at least IDR 5 billion ($375,940) in Indonesia’s larger cities.
Foreign buyers would be banned from purchasing landed houses and would still be subject to the existing luxury sales tax.
Source: Indonesia Investments
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