Hi all! I’m 23 and considering buying an apartment in Jakarta, Indonesia. I’m planning to take a loan with a 6% fixed rate for 3 years followed by a floating rate. The government has a tax refund program for properties under 2 billion rupiah, which could give me about 200 million rupiah next year. I have a net worth of around $50k and my dad will help with upfront costs. I’m nervous about committing to a mortgage but the monthly payments will be manageable since I earn in USD. What do you think? Should I go for it or keep investing in stocks and crypto?
How much cash is required for the real estate investment? If the bank finances 90-100%, then I think you should go for it. I’ve done many real estate deals and would love to help!
The down payment is about 20 million rupiah ($1,300), and my dad will cover the other fees.
Definitely buy the property if you only need to put down $1,300! Keep me updated on the process!
Isn’t Indonesia building a new capital? Will that affect real estate demand in Jakarta?
Yes, but all major businesses will remain in Jakarta, so I’m not worried about it. Jakarta will still be a key city.
I did it! I’m excited about the remodel and the investment process has been straightforward. The property is under my dad’s name, but I have an inheritance agreement for it.
If this goes well, I hope to invest in a villa in Bali next!