This property is offered under a Hak Sewa Lease
Foreigners can lease land with the most popular and strongest in terms of legality being the HAK SEWA LEASE the lease includes any building on the property or built by the new leaser.
Hak Sewa leases can be on sold or subleased to new leasers’
The Hak Sewa lease can be for an initial term of up to 30 years with guaranteed rights of renewal for further periods of up to thirty years.
Land is measured in Are (100 sq Meters ) and the price paid for the initial term is the price per Are per year multiplied by length of the lease. The total price is payable at the start of the lease and there are no increases during the term of the lease.
The price for the subsequent terms as stated in the original lease is calculated at the market rate at that time unless otherwise specified in the original lease documents.
Hak Sewa leases are pre prepared by a Notaris (a legal property conveyencer registered with the Government) and registered with the government land office a transaction tax of 10% is payable and this amount is split between the seller and the purchaser.