In 2024, demand for overseas real estate remained robust, sustaining the high levels seen in 2023 while evolving in both geographic distribution and transaction structure.
Bali is renowned not only as a tropical paradise for tourists and surfers but also as an increasingly popular destination for those seeking a new chapter in life. With widespread internet access and flexible migration policies, the island has become a haven for digital nomads, while its favourable business environment, developed tourism infrastructure, and expanding market attract entrepreneurs and investors alike.
Foreigners holding a valid temporary residence permit (KITAS) in Indonesia can apply for a 5-year permanent residence permit (KITAP) in Bali, provided they have legally resided in the country for at least five years. The KITAP essentially converts temporary residency into permanent residency.
In Indonesia, and particularly in Bali, most property buyers view their purchases primarily as profitable investments. They carefully consider entry conditions, exit strategies, expected returns, and the ongoing costs of maintaining their assets.
One of the most crucial aspects to consider when selecting a foreign real estate investment destination is a tax system that is transparent, comprehensible, and aligned with the investor's interests.
By prioritising the attraction of international tourists and skilled professionals from abroad, Indonesia continues its journey towards opening up to the global community in 2024. Since launching major reforms in 2015, significant progress has been made in creating a truly welcoming visa environment for different groups of foreigners. They can now legally reside, travel, work, do business, and study in various regions of Indonesia.
Full foreign ownership of land and real estate in Indonesia is generally prohibited. As a result, conventional mortgages secured by property are inaccessible to foreigners. Without full ownership rights, foreigners cannot obtain loans for housing.
The latest residential property price monitoring report from Bank Indonesia, covering the second quarter of 2023, reveals that prices in the off-plan market continue to rise year-on-year. The Residential Property Price Index (RPPI) has grown by 1.92% (YoY), up from 1.79% in the previous quarter.
Bali is a popular tourist and property investment destination due to its picturesque landscapes and rich culture. This article examines the process of buying property in Bali, including the options available to foreign investors.
With its stunning landscapes and favorable climate, Indonesia has become a top destination for digital nomads and investors. Understanding and adhering to the procedures for obtaining a KITAS is essential for a smooth transition to living in Indonesia.
Real Estate Investment Indonesia (REII) 2019 Conference is going to be held on 30-31 July 2019 in JS Luwansa Hotel, Jakarta.