The real estate law in Indonesia is mainly governed in the Law No. 5 of 1960 on Principle Provisions of Agrarian (the “Agrarian Law”).
Overview of Real Estate Law in Indonesia for Foreigner or Foreign Entity
read more
Articles
Strata Title Ownership for Foreigner and Foreign Entity in Indonesia
Indonesia as a developing country is one of the investment destination for developed countries to expand their global business activities. That is why more foreigners domiciled in Indonesia to do their business. However, there are boundaries or conditions for foreigner to own a residence especially a strata title, which is going to be discuss further here.
The Legal Status and Power of Tenant Association
In a strata title concept, there is unit of strata title that can be owned separately and also jointly common equipment, common facility, and common land in line with the calculation of the proportional comparative value. That is why there should be a regulation on utilization and management by Tenant Association (Perhimpunan Penghuni) as a legal entity that will be responsible to manage the shared interest of owners and strata title tenants.
Condominium Development Policy
Housing and residence are every human being basic needs. With the increasing number of inhabitants, the land space provided becomes very limited. Because of that, houses are made in a multi-story structure or commonly known as condominium (rumah susun).
Legal Aspects on Strata Title Super Block Development in Indonesia
In Indonesia the property conglomorates has been intensive in developing the superblock. There is a Lippo Group that builds Kemang Village and St. Moritz. We also have Ciputra Group that builds Ciputra World, in Surabaya and Jakarta. We have Agung Podomoro Group that builds Podomoro City in Tanjung Duren area and there are so many other projects that are undergoing now.