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Indonesia real estate: Covid-19, relaxed foreign ownership laws and MotoGP are drawing property investors to tourist islands Bali and Lombok over Jakarta PETA TOMLINSON Government moves and new offerings – such as these villas at Selong Selo Resort & Residences, Lombok – are stirring interest in Indonesia’s property market. Photo: handout
Indonesia s moves to make it easier for foreigners to own property have been welcomed by the industry and end users alike. The Minister of Agrarian and Spatial Planning, Sofyan Djalil, whetted appetites when he reportedly told Indonesian property tycoons during a webinar in July that impending new rules would provide foreigners with similar ownership rights as locals. While that has not quite happened, the passing of the omnibus Law on Job Creation in October, which seeks to leverage foreign property investment as one of the pillars to reboot the nation s economy after the pandemic, has made the pathway clearer.