{"id":10420,"date":"2020-12-14T17:53:28","date_gmt":"2020-12-14T10:53:28","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=10420"},"modified":"2021-06-04T15:52:32","modified_gmt":"2021-06-04T08:52:32","slug":"indonesia-real-estate-covid-19-relaxed-foreign-ownership-laws-and-motogp-are-drawing-property-investors-to-tourist-islands-bali-and-lombok-over-jakarta","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/indonesia-real-estate-covid-19-relaxed-foreign-ownership-laws-and-motogp-are-drawing-property-investors-to-tourist-islands-bali-and-lombok-over-jakarta\/","title":{"rendered":"Indonesia real estate: COVID-19, relaxed foreign ownership laws and MotoGP are drawing property investors to tourist islands Bali and Lombok over Jakarta"},"content":{"rendered":"<div data-v-5a0444bf=\"\">\n<figure id=\"attachment_10421\" aria-describedby=\"caption-attachment-10421\" style=\"width: 1112px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-10421 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/12\/Screen-Shot-2563-12-14-at-21.51.18.png\" alt=\"\" width=\"1112\" height=\"624\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/12\/Screen-Shot-2563-12-14-at-21.51.18.png 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/12\/Screen-Shot-2563-12-14-at-21.51.18.png 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/12\/Screen-Shot-2563-12-14-at-21.51.18.png 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/12\/Screen-Shot-2563-12-14-at-21.51.18.png 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2020\/12\/Screen-Shot-2563-12-14-at-21.51.18.png 1112w\" sizes=\"(max-width: 1112px) 100vw, 1112px\" \/><figcaption id=\"caption-attachment-10421\" class=\"wp-caption-text\">Invest Islands eco-luxury villa. Photo: South China Morning Post<\/figcaption><\/figure>\n<p class=\"generic-article__body article-details-type--p content--p\" data-v-50a030bf=\"\" data-v-5a0444bf=\"\">Indonesia\u2019s moves to make it easier for foreigners to own property have been welcomed by the industry and end users alike. The Minister of Agrarian and Spatial Planning, Sofyan Djalil, whetted appetites when he reportedly told Indonesian property tycoons during a webinar in July that impending new rules would provide foreigners with similar ownership rights as locals. While that has not quite happened, the passing of the omnibus Law on Job Creation in October, which seeks to leverage foreign property investment as one of the pillars to reboot the nation\u2019s economy after the pandemic, has made the pathway clearer.<\/p>\n<\/div>\n<div data-v-5a0444bf=\"\">\n<div class=\"imageContainer generic-article__body article-details-type--p content--p\" data-v-50a030bf=\"\" data-v-5a0444bf=\"\">\n<div class=\"generic-article__body article-details-type--img content--img caption\" data-v-e9402d06=\"\" data-v-50a030bf=\"\" data-resolution=\"2\">\n<div class=\"body__image image\" data-v-e9402d06=\"\">\n<div data-v-5a0444bf=\"\">\n<p class=\"generic-article__body article-details-type--p content--p\" data-v-50a030bf=\"\" data-v-5a0444bf=\"\">Terje H. Nilsen, director of Seven Stones Indonesia, believes the government could not go so far as permitting foreigners to own freehold (or\u00a0<em class=\"generic-article__body article-details-type--em content--em\" data-v-50a030bf=\"\">hak milik<\/em>) title, alongside Indonesians, as this would undermine the constitution and agrarian law. However, the changes do allow foreigners to purchase using an HBG (or \u201cright to build\u201d) title, which Nilsen describes as a \u201cgame changer\u201d. \u201cThis will encourage foreigners to choose Indonesia as a first or second home option,\u201d he said. \u201cEspecially now, when more and more people work from home, they can do so in places which offer a superb lifestyle, great weather, spacious homes \u2013 both indoors and out \u2013 and where food and entertainment are still very cheap.\u201d<\/p>\n<\/div>\n<div data-v-5a0444bf=\"\">\n<div class=\"generic-article__body article-details-type--p content--p\" data-v-50a030bf=\"\" data-v-5a0444bf=\"\">\n<div class=\"generic-article__body article-details-type--a content--a\" data-v-d84337a6=\"\" data-v-50a030bf=\"\">\n<div data-v-d84337a6=\"\">\n<div class=\"recirc\" data-v-21f3f7ba=\"\" data-v-d84337a6=\"\">\n<div class=\"recirc__left left\" data-v-21f3f7ba=\"\">\n<div data-v-5a0444bf=\"\">\n<p data-v-50a030bf=\"\" data-v-5a0444bf=\"\">Development company Invest Islands, with offices in Hong Kong, is also targeting local buyers for its Torok Hill Resort. Located on the south coast of Lombok, this project was recently named best upcoming hotel development in Indonesia at the PropertyGuru Asia Property Awards and consists of one-, two- and three-bedroom units, all of which have private pools and views of the Indian Ocean.<\/p>\n<\/div>\n<div data-v-5a0444bf=\"\">\n<div class=\"generic-article__body article-details-type--p content--p\" data-v-50a030bf=\"\" data-v-5a0444bf=\"\">\n<div class=\"generic-article__body article-details-type--a content--a\" data-v-d84337a6=\"\" data-v-50a030bf=\"\">\n<div data-v-d84337a6=\"\">\n<div class=\"recirc\" data-v-21f3f7ba=\"\" data-v-d84337a6=\"\">\n<div class=\"recirc__left left\" data-v-21f3f7ba=\"\"><strong>Continue reading at <a href=\"https:\/\/www.scmp.com\/magazines\/style\/news-trends\/article\/3113611\/indonesia-real-estate-covid-19-relaxed-foreign\" target=\"_blank\" rel=\"noopener noreferrer\">scmp.com\/magazines\/style\/news-trends\/article\/3113611\/indonesia-real-estate-covid-19-relaxed-foreign<\/a><\/strong><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Indonesia market update, featuring some Asia Property Award winners<\/p>\n","protected":false},"author":12,"featured_media":20892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6,92],"tags":[231,154,686,638],"class_list":["post-10420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-external-links","category-news","tag-bali","tag-indonesia","tag-lombok","tag-real-estate","news_country-indonesia","news_author-asia-property-awards"],"acf":[],"yoast_head":"<!-- This site is optimized with the 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