6 How To Buy Property Abroad, Understand So You Don't Lose

Illustration of buying property abroad (Pexels)

YOGYAKARTA Buying property abroad is nothing new. Many Indonesians have bought property abroad. The goals vary, ranging from business, investment, holidays and so on. Well, in this article, we will discuss how to buy property abroad, keep reading until it runs out, yes!

Summarized from various sources, Wednesday, April 26, 2023, the following is how Indonesian citizens buy property abroad.

Buying property abroad cannot be arbitrary, because there are regulations that you must follow. Therefore, you must understand the rules and laws related to the purchase of property for foreign nationals in the local country so that investment continues smoothly.

Related to this, you don't have to come to that country to find out what rules apply. The reason is, you can do it online.

Despite being allowed to buy property, usually foreigners still have limitations and do not have the same rights as local residents in terms of house ownership.

For example, it is permissible to buy property with ownership status but only applies to certain types of houses.

In addition, there are also foreigners who may legally own property but if they do not live, they will be subject to a large enough fine.

The next tip is to identify the purpose of buying property abroad, whether for business purposes, investment or others.

Such considerations are important so that you can find out whether the country accommodates these goals or not.

For example, you want to buy property abroad for business, but in auran, foreigners are prohibited from making businesses in the country. If this happens, it will be very detrimental. Because, you have spent billions to buy the property.

Not a few Indonesian citizens (WNI) buy property abroad without intermediaries or go directly to their owners.

This is done because generally the purchase price is much cheaper than the one offered by the developer.

However, if you are still a layman about regulations on buying property abroad, it's a good idea to ask the developer or property agent for help. They can help you from the house search process to the payment stage.

The currency used to buy property abroad is the currency of the destination country. Therefore, pay attention to currency fluctuations in the local country or immediately exchange your body into a currency that is of high and stable value, such as the United States dollar.

This is important to do so that you can buy property at the right time, such as when the intended state currency is down.

If you have found the right property, the next thing you have to do is make payments. Avoid cash payments because some countries have maximum limit rules for cash.

If you want to pay it on credit, don't forget to do research and be more thorough in choosing the bank you want to choose. Make sure the bank is an official institution whose reputation is well known.

Just like in Indonesia, buying property abroad is also equipped with taxes. This rule applies to both foreign nationals or local nationals.

Make sure the funds you have prepared are sufficient to pay the applicable property and taxes.

That's the information about how Indonesian citizens buy property abroad. Hopefully this article can add insight to the loyal readers of VOI.ID.