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09

Indonesian Luxury Apartment Plan Fails to Boost Property Stocks

By Tony Seruga

Foreigners can buy apartments worth 10 billion rupiah or more
Rule doesn’t apply to landed property such as villas in Bali

Indonesia’s plan to let foreigners buy luxury apartments failed to lift sagging property stocks as the price threshold for purchases was set at 10 billion rupiah ($697,593).

Coordinating Minister for Economic Affairs Darmin Nasution released a document outlining the move late on Wednesday, part of wider government efforts to revive an economy growing at the slowest pace since 2009…

Indonesian Luxury Apartment Plan Fails to Boost Property Stocks

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