They purchased properties by utilizing an Indonesian Citizen, called nominees.
Prices soared for some properties as much is 3,000% in 15 years after the end of the Suharto regime in 1998, which previously scared off foreign investors.
Bali’s Notaries, who are required to transfer any title of freehold land were advised that if they signed new nominee agreements they could lose their license.
PT. B.A.L.I.’s 62-year-old Balinese accountant was once asked is if he had ever seen a downturn in his lifetime and he answered, “never”.
Now all these foreigner’s nominees that didn’t list their properties could possibly lose them.
The government announced that leases were legal for foreigners for terms of 30 years +20 years +30 years for a total of 80 years.
As Lawrence states, “80 years is a long time and you can make a lot of money”. It allows transfer of the owner of the leases several times so several new buyers many can make money during the lease period.
|Vancouver home exchange for Bali villa 2017|
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At these seminars you will learn about:
- The Past, Present and Future of Bali and Indonesian real estate.
- Why a recent official clarification of foreign ownership laws allows foreigners to totally control Indonesian properties for up to 80 years.
- How to avoid legal problems and make sure a property is safe.
- How to avoid complicated real estate laws affecting Indonesians married to foreigners.
- Why this is the second-best time to buy this century.
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