If you are an expat, one of the most urgent tasks is to find a suitable place to live in. I suggest starting to do some research before you arrive in Jakarta. Indonesian laws for foreign ownership of property is not yet favourable to expats, so the most obvious choice would be to rent one. These are some of the points you need to consider:
- Decide if you prefer to live in a landed house or an apartment. I had written an article recently on renting that ideal house in Jakarta.
- Spare some time to drive around the area to get a feel for it (or use the google maps ‘street view’ feature to get a 360-degree view of the area.)
- Location is Vital: Find a place that is in the vicinity of your office, child’s school, or leisure activities for the family, as the traffic can be challenging. (The distance and journey time can be checked via google maps.)
- Some popular areas for expats include: Pondok Indah, Kuningan, Kelapa Gading, Kemang, Menteng, and Permata Hijau.
- Ensure that flooding is not a serious issue in that neighbourhood.
- Use a trusted and reliable property agency.
- Find a unit in good condition. Make sure that there are no serious leakages or plumbing issues.
- The rent should fit your budget.
- The contract duration and payment terms should match your expectation. It is a norm here for landlords to require a lump sum upfront rent payment for 1 or 2 years.
- Do negotiate on the Price.
Kavin Ratnani – contributor
He is a young property Entrepreneur who had bought and furnished his first distressed property at the age of 22 and currently owns 27 properties ranging from condominiums, houses, shop-houses, mini office buildings mainly in Jakarta and a hotel in Puncak.
In high school (GMIS), Kavin was the International Baccalaureate (IB) school topper in the year 2009, scoring 42 out of 45 points. He then graduated from the prestigious Hong Kong University of science and Technology with first class honors and full scholarship in BBA in global business/finance. He also completed his Masters (Msc.) in Economics before getting some work experience as a banker in Hong Kong.
He has recently started a real estate company (PT) called Kavio Group Indonesia. You may contact him by Email at: [email protected] for any property related advice.