Indonesia Sets Plan Allowing Foreign Apartment Ownership
South East Asia's biggest economy Indonesia is setting plans to allow foreigners to own upscale apartment units.
Last week the Jakarta Globe ran a piece quoting Finance Minister Bambang Brodjonegoro who confirmed that a new policy on foreign ownership was being put into place to spur the country's property sector.
Indonesia's President Joko Widodo is facing extreme pressure to stimulate economic growth in the country at a time when the rupiah is continuing to face strong downward pressure.
Thailand currently allows foreign ownership of condominium units on a 49% project quota basis.