Bali, Indonesia’s top tourist destination, is poised to attract overseas buyers after the government recently raised the threshold on luxury tax, according to analysts.
In June, the administration of President Joko Widodo announced that the limit for luxury tax of 20 per cent for houses and flats would be increased to 30 billion rupiah (US$1.4 million) from 20 billion rupiah, effectively excluding many transactions in the high-end property market.
Jakarta already allows foreigners to own…
Source : South China Morning Post
Read more…Bali beckons as Indonesia makes it cheaper for overseas investors to buy expensive houses by raising luxury tax threshold
