Having your own land and property far away from your native country is getting more popular by the day nowadays. The reason for that is that you will be able to have a vacation home that you can visit whenever you want, your funds will be locked somewhere and you will have the potential to resell the place in the future and get some extra cash, and if you choose to rent it, you can make passive income all year round. Indonesia is one of the most popular countries to invest in this year, and if you have been wondering what is the process of buying a property in Nusa Penida in 2023, then you should use this complete guide for expats that will help you get all the information that you need.
You have to have a permit to stay in the country
If you want to be able to purchase land in Nusa Penida, the first thing you need to know is that you would need a permit to stay in the country. Even though in some cases, you can purchase a property without staying there, the whole process is going to be much more difficult and time-consuming.
There are two main permits that you can go for when seeking to get a house in Indonesia, and you would need to be allowed to work there, or to invest in a business or a property in the country. This is the same everywhere in the country, not just in Nusa Penida.
If you don’t have a permit as of right now, you should look for all the documents that you would need to submit, and you can even collaborate with different services that will help you get the things that you want. On the other hand, if you are already working in the country, no matter if you are a digital nomad, or if you are a part of a company there, you probably have some of the required documents.
As you already know, starting from scratch is going to take a lot more time, and you would need to be patient, but it is all going to be worth it.
There is a minimal investment you need to make
The next step in purchasing a house in Nusa Penida is knowing that there is a minimal investment that you can make. If you are a native of the country, you would be able to get any land that you want, no matter its starting price. However, as an expat, you would need to make a minimal investment.
The minimal price is usually determined by the officials in the city or the province, and they change from time to time. The best thing you can do is check the minimum right before you plan on making your investment.
To have a basic idea of how much you would need to spend, you should know that when it comes to condominiums and apartments, usually the ballpark is around 5 billion Indonesian Rupiah or about 300 thousand United States dollars. On the other hand, if you want to get yourself a house that has some land surrounding it, you should be ready to invest about 10 billion rupiahs or about 600 thousand dollars. These prices can vary greatly depending on the exact location and neighborhood that you want to get your property in, so make sure you get all the information possible so you don’t get surprised if you want to make a smaller investment.
There are services that can help you
Doing everything on your own can be extremely challenging, especially if you are a foreigner that does not know where to start or how to proceed. The good thing is that there are a lot of services that can help and guide you during the process and you will be surrounded by experts who will try and help you get your house or apartment as soon as possible.
If you are considering Indonesia Investment then you should explore websites such as www.penidaland.com and find out which properties would be the best ones for you depending on your budget, preferences, and the current market situation.
Keep in mind that collaborating with professionals and natives is far better than going on this journey alone because the experts can easily teach you how to avoid unnecessary problems and delays. Even though you are free to try to purchase land without extra help, you will see that
You should know which is the best option for you
There are two titles that a person can hold in Indonesia when it comes to purchasing land. The first one is Hak Milik and this is also a freehold title. It means that once you purchase the land it is only going to belong to you, forever, no matter where in the world you are located. As an expat, you cannot get this title, and even though you can try, getting it would be close to impossible. Only Indonesian citizens are allowed to hold this title, and that is how the government is protecting its citizens.
As a foreigner, you are allowed to hold the Hak Pakai title, also known as right as an expat. The good thing in this title is that you would be getting your permits to own the land for long periods of time. In the initial phase, you will be allowed to get the place for about two decades, and that can be easily renewed. The taxes are pretty small and you should not have any issues affording it.
Keep in mind that you are only allowed to get a new house and you won’t be able to get a second-hand property that already belongs to someone else. You will need to hold the permit to stay in Indonesia at all times while being the homeowner and if you lose the permit, you risk losing the investment as well. There are some limitations when it comes to the size of the house as well as the land, but these things tend to change all the time.
Use this guide to keep track of the things that you need to be careful about, and keep in mind that since this country is still in the process of development, the prices as well the taxes are changing all the time. Collaborate with a good service and know that this investment will be one of the best choices you’ve made in life.