Dedalo Multimedia Business And Property

Posts Tagged ‘Excellent Opportunities’

Policy on property ownership by foreigners would be a good opportunity for developers of premium apartments.

“Foreign ownership is good for Jakarta. Great benefit to developers who sell premium-class apartments in the CBD (Central Business District). You see a luxury apartment that had not absorbed much by local buyers,” said Director of PT Ciputra Property Tbk Arthadinata Anchor, on the sidelines of the signing memorandum of understanding with three contractors, in Jakarta, Monday (10 / 5).

Unfortunately, until now the implementation of regulations to regulate property ownership by foreign parties had not yet published. He could only await the realization of government’s promise to open the taps on foreign ownership.

According to the Ministry of Housing Suharso Monoarfa, draft regulations on foreign ownership was still in the discussion stage of the internal level. Now, a new ministry of foreign subjects who agreed to be fitted in the Indonesian property buyers. “It can fit a foreign subject,” he said.

In addition, the regulations that already get a portion of the function of property purchases by foreigners. Ie as the product of investment and occupancy.

For investment products, the government planned to be open to all foreign circles. Another case to shelter the foreign party who will stay in Indonesia will be given a set age. For example, the buyer is restricted aged 55 years and over.

“Also for foreigners who want to invest, still we discussed, approximately disincentives and incentives in what they can. Problem object (product properties) still has not be determined. Still Kemenpera internally because we do not want to discuss cross-ministerial something immature , “he said.

Indonesia Property Watch Executive Director (publication of) Ali Tranghanda express, foreign ownership policy should not merely think about the target of foreign direct investment (foreign direct investment). Government policies should accompany it with a requirement for developers to build rusunami.

“It means that there is cross subsidy. The government does not need to shell out a lot of money up a thousand towers. If we do so, it means the government is only oriented to the big developers,” he said.

Following the development of markets is not anything wrong. Wrong if no one is in favor of lower middle market. “If the government is willing, this moment could be a bargaining power for developers. Rusunami Developer shall awake,” he asserted.

Economic observers Institute for Development of Economics and Finance Indonesia (INDEF) Aviliani add it too, foreign ownership had the potential to give instability in property prices.

“No foreign expansion, now the property prices go up every year. The government should control the land price increases. Instead of supporting foreign ownership. There are many people who have not had a decent house,” he said.

He added that if the tap of foreign ownership, the developers will open an expensive fix prices because buyers are foreigners.

“If the foreigners buy, the developer would be hard to get. The price of land will go up. Then the people who have not had a home how,” he said.

In fact, he argues, property prices in Indonesia are too oriented to the market mechanism. When a craving for an investment property, prices will skyrocket without any direct positive contribution. However, when the downward trend, the developer was busy screaming for help on the government to allow foreign ownership.

Although the government promised to restrict the types of properties can be offered to the foreign party, it still will not be able to withstand the rapid growth of property prices. The reason, no doubt because the market mechanism is too powerful.

Moreover, the government did not provide a protection and price controls on land use and occupancy. Apparently, the government too much trust in the developer so that the price of land and property are rolling as they pleased.

“The entry of foreign consumers, will inevitably push up property prices as a whole. Not only upper-class apartment. If you still insist on the privileges given to foreign governments must firmly say location anywhere for cheap property, where for a premium. While continuing to control the price. Now clean up government regulation just once, do not rush to open, later hassles, “he explained.