Singaporean citizens can now easily purchase properties in Batam, Indonesia, by simply presenting their passports, a change brought about by the Indonesian Government Regulation No. 10 of 2021.

The regulation for foreign nationals, including Singaporeans, to buy property in Indonesia was previously governed by Government Regulation No. 10 of 2021. This new development has simplified the process significantly.

Previously, a Limited Stay Permit Card (KITAS) was required for foreigners to purchase property in Indonesia. The new policy, effective since late 2022, eases this requirement to just a passport for Singaporeans.

According to Achyar Arfan, the Chairman of REI Batam, there has been a notable interest from foreigners, especially Singaporeans, in purchasing property in Batam, with over 60 buyers recorded.

The Indonesian Ministry of Agrarian Affairs and Spatial Planning/National Land Agency sets specific limits for foreign nationals owning property, such as owning only one plot of land exceeding 2,000 square meters.

There are also price thresholds for different types of properties that foreign nationals can own. On average, the minimum value for landed houses is IDR 5 billion, and for apartments, it’s IDR 3 billion.

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This policy change has been positively received, as it opens up the Batam real estate market to more foreign investors, particularly from neighboring Singapore.

This new regulation presents a significant opportunity for Singaporeans and other foreign nationals to invest in the Batam real estate market. The ease of purchase with just a passport and the growing interest from Singaporeans could lead to a robust cross-border property investment trend, benefitting both Indonesia and its international visitors.

Under the new Indonesian Government Regulation No. 10 of 2021, Singaporean citizens can now purchase property in Batam using just their passports, simplifying the process significantly. This policy has sparked considerable interest from foreign nationals, especially Singaporeans, in the Batam property market. The regulation also stipulates specific restrictions on property ownership for foreigners, including size and price limits. This development is expected to enhance cross-border investments and strengthen the Batam real estate market’s appeal to international investors.

Source: Tribun News (2024)