Welcome

Hi, and welcome to my Indonesian expat news and real estate blog site. I hope you find the information here useful, informative, thought provoking, and perhaps good for even a chuckle or two. Please feel free to join in and participate by leaving a comment, suggestion or question. On the right side column navigation panes you will find areas for getting around on this site and some helpful links as well. To search my blog site for a topic of interest to you either use the search box in the upper left hand corner menu bar or use the blog archive on the right side column pane. Thanks for stopping by... And if you, or someone you know, is looking to buy or sell a property in Indonesia or the United States please contact me at +62.815.1000.8967

Saturday, June 12, 2010

Overly Restrictive & Counter-Intuitive

After reading through a summary of the proposed new real property law changes that [supposedly] would allow a foreigner to "own" or buy a property in Indonesia -- I am left with this thought,  WHAT IN THE WORLD IS INDONESIA THINKING OR TRYING TO ACCOMPLISH WITH THIS HERE ??!!  

I go back to my very first post here where I said the new changes are OVERLY RESTRICTIVE & COUNTER-INTUITIVE on the part of the Indonesian government!   There is no way they are going to stimulate the Indonesian economy with this ridiculous move.

Looking at this whole scenario as an outsider, expat, and real estate professional who would be contemplating buying a real estate property in Indonesia; if I was going to invest in the purchase of real estate property in a foreign country, Indonesia would be the LAST place on earth I would consider doing it !  Is this what the Indonesia government is trying to accomplish ?  Trying to make it so restrictive and difficult that a foreign investor would run in the other direction ?  If that's what the legislature was trying to accomplish, they've done an outstanding job at accomplishing this objective.  If, on the other hand, their goal was to find ways to stimulate the Indonesian economy and broaden or foster greater relationships with other countries (particularly the USA and the UK) then they have done an absolutely miserable job of that and this legislation will prove to be a colossal failure.

What's also counter-intuitive is that if I, as a savvy and experienced [expat] real estate professional, do not have any confidence in the new real property law amendments as they relate to foreign investors, how in the world am I expected to convince or "sell" some other expat on the notion of "buying" a property in Indonesia ?  Not very intuitive, is it ?

Indonesian government officials ? I hope you're listening and reading this and will reconsider your overly restrictive measures.  There's another way to do this that would be a win-win situation for the Indonesian people at large, the Indonesian government and economy which it supports, and foreign investors alike.  I would love to have the opportunity to appear before the 550-member People's Representative Council (Dewan Perwakilan Rakyat, DPR) and/or the 128-seat Regional Representatives Council (Dewan Perwakilan Daerah) to make my recommendations or suggestions in support of this new measure.

No comments:

Post a Comment