According to a recently issued statement by the government, investors and property buyer overseas could soon have the ability to buy apartments through all of Indonesia.
Minister of finances, Bambang Brodjonegoro, was not forthcoming regarding a timeline and exact details. However an announcement was made regarding a relaxing of the restrictions for local property loans. Mr. Brodjonegoro also shared that his government was going to allow the ownership of luxury apartments with price tags of over $380,000US to foreign investors and buyers.
Agus Martowardojo, Bank Indonesia’ governor, shared with reporters that there was a possibility of a cut being made by Central Bank on the loan to value ratio for auto and property loans, which could happen in this current month, and will allow buyers with down payments that are lower to be financed by banks for Bellewaters EC.
When pressed for more details regarding this move Mr. Martowardojo declined to share more. However, he had stated in the past that Central Bank was looking to preserve a healthier growth in loans for consumers while preventing bubbles in Bellewaters EC pricing.
Bellewaters Anchorvale Crescent
A 5% withholding tax is required of buyers but this can be deducted from the annual income taxes.
There was a more than anticipated slump in the first quarter of Indonesia’s economic growth to 4.71%, which was hit by government spending that was much lower and commodity prices that were much weaker.