A new government regulation scheduled for implementation in May has promised a legal breakthrough that would allow foreigners to own property in Indonesia, albeit restricted to condominiums only.
In the past, efforts to open the property market to foreigners were hampered by the prohibition on land ownership, which would remain intact as demanded by existing laws.
The upcoming regulation seeks to overcome that problem by simply providing foreigners with the right to apply for the purchase of a Building Ownership Certificate (SKBG) ...
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