Do you want to buy property in Makassar? The capital city of Sulawesi, also known as Ujung Pandang, is located on the southwestern coast of the island of Sulawesi and has a population of over 1.5 million people. It was once a major trade and commerce center under Dutch occupation. More and more people move from small towns in South Sulawesi to Makassar.
Foreigners can buy property in Makassar, although there are several regulations and rules to be aware of before buying real estate in Makassar. This article will explain how to buy property in Makassar, where to find Makassar property for sale, and what the property prices in Makassar are.
Can foreigners buy property in Makassar?
Foreigners can buy a house and land in Makassar, although obtaining full ownership is nearly impossible, as only Indonesian nationals can buy property under Hak Milik (HM). This title is the highest form of property ownership in Indonesia. The Indonesian government wants to protect its housing market against foreign investors seeking ‘cheap’ real estate. Nonetheless, foreigners can purchase real estate in Makassar in various ways, such as through Hak Pakai (HP) or with a PT PMA.
How to buy property in Sulawesi?
Makassar is Sulawesi’s capital city. Therefore, most laws and regulations also apply to other cities in Sulawesi. However, many cities, towns, and districts also have their local rules, which can differ. Foreigners who want to acquire property in other Indonesian areas on the island of Sulawesi better work with a local real estate agent who understands the local regulations.
5 ways to buy a house or land in Makassar
As foreigners can’t buy property under a Hak Milik title, they must buy property in a different way. Luckily, there are several ways foreigners can buy property in Makassar:
- Leasehold: Indonesian leasehold agreements are primarily valid for 25 years and enable foreigners and PT PMAs to invest in property for residential and commercial use.
- Hak Pakai (HP): Foreigners with KITAS or KITAP can buy specific Indonesian properties under the Hak Pakai title. Buying under Hak Pakai may qualify foreigners for a Second Home visa, which is valid for five or ten years.
- Hak Guna Bangunan (HGB): Hak Guna Bangunan allows foreigners to build and own property on land owned by someone else, such as an Indonesian entity or the state.
- PT PMA: Foreigners can invest in Indonesian property to generate rental income through a PT PMA and qualify for a two-year Investor KITAS.
- Passport: In 2023, the Indonesian government allowed foreigners to buy property in Makassar using only their passport, subject to specific investment and land size criteria.
The best way to buy property in Makassar depends on your particular needs and situation. For instance, you could consider buying through a leasehold, Hak Pakai, or a passport. However, it’s worth noting that you’ll need to satisfy specific criteria to qualify for Hak Pakai or passport ownership.
Alternatively, you could opt for Hak Guna Bangunan, which involves leasing land in Makassar and constructing your own property on it.
If you want to invest or obtain the Investor KITAS (a two-year valid Indonesian visa), purchasing property via a PT PMA may be the most effective strategy. Nonetheless, it’s essential to remember that establishing a PT PMA in Indonesia can take up to ten weeks.
Get help with buying property in Makassar
How to find Makassar property for sale?
Are you looking to buy property in Makassar? There are various methods to find Makassar property for sale. One commonly used option involves searching through property websites that provide a diverse range of properties for sale in Makassar. You can seamlessly locate the ideal property that perfectly caters to your requirements using filters.
Another approach to finding property for sale in Makassar is collaborating with a reputable local real estate agent. They possess invaluable knowledge of the local real estate market, a vast network, and an extensive selection of listings in their portfolio, which makes it easier to find your dream property in Makassar.
It is advisable not to navigate the Makassar real estate market alone. Our team of experts is readily available to assist you and guide you in finding your dream property. If you require more information regarding how we can help, please drop your details below or email us at email@example.com.
Property prices in Makassar
Do you want to buy a house in Makassar? The city of Makassar offers a wide variety of property options. Consider apartments, townhomes, single-family homes, multi-family dwellings, villas, farmland, and commercial real estate. The table below gives an overview of the real estate prices in Makassar, Indonesia.
|Average buy price||Average price/sqm.||Average rent price||Annual growth||Rental yield|
|House||IDR 960 million ($62,400)||IDR 13 million ($845)||–||+ 109.9%||–|
|Townhouse||IDR 838 million ($54,470)||IDR 10 million ($650)||–||– 68.4%||–|
|Apartment||IDR 1.1 billion ($71,500)||IDR 16.7 million ($1,086)||–||+ 619.9%||–|
|Commercial||IDR 4.3 billion ($279,500)||IDR 24.2 million ($1,573)||IDR 96 million ($6,240)||+ 3.4%||–|
|Land||IDR 626 million ($40,690)||IDR 456,700 ($29.69)||–||– 74.7%||–|
How to sell property in Makassar in 9 steps
Do you want to sell your property in Makassar? Follow these nine steps to ensure a smooth property sale transaction in Makassar:
- Preparation: Begin by cleaning, decluttering, and potentially staging your property to enhance its appeal to prospective buyers.
- Documentation: Ensure all property-related documents, including ownership certificates and tax records, are current and on hand.
- Set the right price: Investigate the prevailing real estate market conditions in Makassar and price your property competitively.
- List your property online: Utilize online platforms for broader reach. List your property on our platform to ensure maximum exposure and attract potential buyers.
- Work with a Makassar real estate agent: Partner with a well-informed local real estate agent in Makassar to guide you through the selling process. If you’re in search of a reliable agent, send us an email, and we’ll be happy to help.
- Promote your property: Leverage social media, local newspapers, and word-of-mouth recommendations to boost your property’s visibility.
- Negotiate offers: As offers come in, negotiate terms and prices to secure the best deal.
- Legal formalities: Engage a legal expert to oversee the sale’s legalities, ensuring all documentation is appropriately managed.
- Finalize the sale: Once a deal is agreed upon, conclude the sale, transfer the property title, and hand over the keys to the new owner. Don’t forget to notify local authorities and utility providers about the ownership change for a seamless transition.
Selling property in Makassar, whether it’s a house, plot, or apartment, can be challenging. However, the process can be streamlined and rewarding with the right tools and guidance.
Buy property in Makassar with Own Property Abroad
Do you want to buy property in Makassar? Or do you want to sell your Makassar property? Own Property Abroad can assist you and ensure a seamless, hassle-free real estate transaction. Thanks to our extensive knowledge and local experience in Makassar, we can help with legal requirements, finding suitable properties, negotiating the best deals, and conducting due diligence.
With our expert team, you won’t have to navigate the complexities of the Indonesian market alone. For further information on how we can assist you, kindly drop your details below or email us at firstname.lastname@example.org. Let’s start working on your property success story today!
Get help with buying property in Makassar
Frequently Asked Questions (FAQ)
Can foreigners buy a house in Makassar?
Foreigners can buy a house in Makassar through a leasehold agreement, a passport, a Hak Pakai title, a Hak Guna Bangunan title, or a PT PMA. Many foreigners buy through a PT PMA as it is considered safe and allows foreigners to obtain a two-year valid KITAS visa.
How to buy property in Makassar?
There are several ways to buy property in Makassar. For residency, consider leasehold, Hak Pakai, or passport, though the latter two have specific requirements. Hak Guna Bangunan allows leasing land to build a property upon. For investment or obtaining the two-year Investor KITAS, purchase through a PT PMA.
Can I buy land or a house in Makassar?
Yes, buying land or a house in Makassar, Indonesia, is possible, although there are certain restrictions and limitations. The best way for foreigners to purchase real estate in Makassar is through leasehold, Hak Pakai, or a foreign-owned company (PT PMA).
Where to find land or a house for sale in Makassar?
You can find land or houses for sale in Makassar by contacting local real estate agents, searching online real estate marketplaces, looking for classified ads in local newspapers and websites, or by networking.