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buy apartment jakarta - foreigners

How can Foreigners Buy Apartments in Jakarta?

Jakarta has a population of more than 31 million and it is without a doubt Indonesia’s economic center. The city is the hub to many multinational giants and the headquarters of the country’s leading companies.

Over the years, Jakarta has secured its position as an attractive international destination to live and work, with a multitude of business and job opportunities offered to both foreigners and locals.

Many foreign investors have decided to invest in the property and real estate market in Jakarta because they see that the market is still undervalued.

Also, with a large consumer market in Jakarta and the rapidly-growing middle-income group, the demand for property in the city has been picking up and is expected to skyrocket in the next several years.

Therefore, for many ambitious and smart investors, Jakarta is currently presenting incredibly attractive investment opportunities.

Best Places to Buy Apartments in Jakarta

Not every place in Jakarta is created the same for its property investment opportunities. To make the most out of your money, here are some of the places you can consider to buy an apartment in Jakarta based on the major districts in the city.

  • South Jakarta: Kebayoran Baru, Sudirman, Kuningan
  • West Jakarta: the Chinatown, Tangerang
  • North Jakarta: Kelapa Gading
  • Central Jakarta: Menteng, Golden Triangle

How to Buy an Apartment in Jakarta as a Foreigner

Just like any other parts in Indonesia, there aren’t regulations that are favorable and transparent enough on foreign purchase and ownership for foreigners to buy an apartment in Jakarta.

In Jakarta, a foreigner is not permitted to buy a new property or an established property, not even of apartments and condos. Foreigners can only lease the property or acquire the right to use.

There are some exceptions to overcome these restrictions. Foreigners can opt for Special Purpose Vehicle structure through local company PT or set up a foreign-owned company PT PMA to buy an apartment in Jakarta.

Local Company PT through Special Purpose Vehicle Structure

This is a very common method for foreigners to buy an apartment in Jakarta. However, it does come with stricter government regulations. This practice works out fine for foreigners with a Special Purpose Vehicle company through a legally-binding agreement.

Under this Special Purpose Vehicle structure, foreigners can get a Right of Use (Hak Pakai) to buy an apartment in Jakarta.

Foreign-Owned Company PT PMA

Foreigners setting up a PT PMA in Jakarta are eligible to purchase a property as well with Hak Milik. To incorporate a PT PMA, foreigners need to create a business plan, open a local bank account, inject the investment capital and run their business actively.

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Preparing a Lease Agreement

When you choose a leasehold title while buying a property in Jakarta, a lease agreement between you and your landlord is vital.

A lease agreement must be legally signed and stamped with the rights and obligations of both parties during the lease period stated. The drafting and notarisation of the lease agreement must be officially and professionally done by legal experts.

How Cekindo can Assist

The Indonesian property market is thriving, where the apartment and property demand has seen ongoing growth.

At Cekindo, we offer assistance to help you purchase the most exclusive sought-after apartments in Jakarta through the establishment of PT PMA and Special Purpose Vehicle arrangements.

Our incorporation and apartment purchase advice is supported by research-led insights, enabling you to obtain the latest unbiased market updates when you set up a business or buy an apartment in Jakarta.

We consistently apply unwavering standards of due diligence and transparency when helping you incorporate your business and buy an apartment in Jakarta.

Get in touch with us now for this providential investment opportunity in Jakarta. Fill in the form below.

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