+
Indonesia: Full tax break for property purchases
Real Estate

Indonesia: Full tax break for property purchases

Indonesia intends to reinstate the full tax break on property purchases valued up to $323,000 for the second half of 2024 in an effort to boost demand, according to the country's chief economic minister on Tuesday.

The policy involves the government covering the cost of value-added tax on up to 2 billion rupiah of the price for eligible landed houses or apartment purchases.

Previously, the policy of covering 100% of the VAT had ended in June, with the government only rebating 50% of the tax until the end of the year.

Chief Economic Minister Airlangga Hartarto stated that the change is aimed at supporting the purchasing power of the middle class, which has been declining due to the ongoing effects of the COVID-19 pandemic.

Indonesia intends to reinstate the full tax break on property purchases valued up to $323,000 for the second half of 2024 in an effort to boost demand, according to the country's chief economic minister on Tuesday. The policy involves the government covering the cost of value-added tax on up to 2 billion rupiah of the price for eligible landed houses or apartment purchases. Previously, the policy of covering 100% of the VAT had ended in June, with the government only rebating 50% of the tax until the end of the year. Chief Economic Minister Airlangga Hartarto stated that the change is aimed at supporting the purchasing power of the middle class, which has been declining due to the ongoing effects of the COVID-19 pandemic.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code