http://www.thejakartaglobe.com/business/rich-indonesians-buying-homes-abroad/510757?utm_source=newsletter&utm_medium=email&utm_campaign=jgnewsletter
Rich Indonesians Buying Homes Abroad April 11, 2012 ndonesian billionaires are after property in Singapore and Australia because of the accommodating regulations in place for foreigners there, a property consultancy said on Wednesday. Hasan Pamudji, a senior research manager at Knight Frank, said 60 percent of Indonesians’ property purchases abroad took place in Singapore and Australia. In about a decade, the amount Indonesians buy in Singapore has nearly quadrupled, he said. In 2011, Indonesians bought 1,714 units of property in Singapore, compared to 430 units in 2000. Another reason for the trend was the good investment climate in Singapore and Australia, Hasan said. Teguh Satria, president of the International Real Estate Federation for the Asia-Pacific region, attributed it to Singapore and Australia’s robust legal systems, livability and rules about foreigners owning property. Most of the Indonesian buyers had made their purchases for investment purposes, while some wanted to provide their children studying overseas with places to stay, Teguh said. In Indonesia, foreigners can’t own a building ownership certificate, but can only lease property for 25 years and then extend that for another 45 years. The Straits Times reported in February that Indonesians were buying many of the most expensive homes in Singapore. Chinese nationals were the top buyers in Singapore, but Indonesian citizens were dominating city-center deals, the Singapore-based newspaper reported, citing Alan Cheong, head of research at consultancy Savills Singapore -- I am using the free version of SPAMfighter. We are a community of 7 million users fighting spam. SPAMfighter has removed 37 of my spam emails to date. Get the free SPAMfighter here: http://www.spamfighter.com/len The Professional version does not have this message ------------------------------------ Post message: [email protected] Subscribe : [email protected] Unsubscribe : [email protected] List owner : [email protected] Homepage : http://proletar.8m.com/Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/proletar/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/proletar/join (Yahoo! ID required) <*> To change settings via email: [email protected] [email protected] <*> To unsubscribe from this group, send an email to: [email protected] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
