Bali Villa Dream Closer to Reality With Baby Steps to Ease Curbs
- Property law doesn't go far enough to lure flood of buying
- Some ministers had been pushing for greater liberalization
Balinese home in Ubud, Bali. Indonesian President Joko Widodo has signed a long-awaited rule allowing resident foreigners to purchase so-called “right-to-use” property titles for 30 years, five years longer than a previous 1996 regulation, with a possible extension of up to 50 more years.
Photographer: Education Images/UIG via Getty ImagesBuying that Bali villa may have gotten a little easier, though not easy enough.
Indonesian President Joko Widodo has signed a long-awaited rule allowing resident foreigners to purchase so-called “right-to-use” property titles for 30 years, five years longer than a previous 1996 regulation, with a possible extension of up to 50 more years. It also loosens the definition of residency, and clarifies that property may be bequeathed to relatives as long as they too have residency.