After Indonesia's Golden Visa: Will Jakarta/Bali Real Estate Benefit?...
After the launch of Indonesia's Golden Visa, the market widely interprets it as a boon for real estate, but the reality is far more complex. The Golden Visa is essentially a long-term residency policy aimed at attracting capital and high-net-worth individuals, not a 'buy property for residency' scheme. This article analyzes whether Jakarta and Bali real estate truly benefit, based on visa rules, foreign ownership restrictions, and urban demand structures, and breaks down the core differences between investment residency and real estate investment.

After Indonesia's Golden Visa: Will Real Estate Benefit?
Conclusion First: Golden Visa ≠ Direct Real Estate Boost
Many investors see "Golden Visa" and immediately think: real estate opportunities are here.
But in Indonesia, this logic is flawed.
The Golden Visa addresses "long-term residency," not "real estate investment channels."
The real question should be:
👉 Will the Golden Visa indirectly change the structure of real estate demand?
I. Core Rules of Indonesia's Golden Visa
Indonesia's Golden Visa is designed to attract high-quality investors, not real estate buyers.
Main thresholds:
- 5-year visa: approximately $350,000 investment
- 10-year visa: approximately $700,000 investment
Investment directions mainly include:
- Indonesian government bonds
- Stocks
- Deposits
Key point:
👉 Real estate is not a core investment target
This means:
The Golden Visa will not directly drive up housing prices like European Golden Visas do.
II. Why "Buying Property" and "Obtaining a Visa" Are Two Separate Systems
Indonesia's real estate market still has significant restrictions for foreign capital:
1) Land Ownership Restrictions
Foreigners typically cannot directly hold freehold land.
2) Main Holding Methods
- Right to Use (Hak Pakai)
- Condominium ownership (partially feasible)
3) Policy Risks
Real estate rules may change with policy adjustments.
Therefore:
Even with a Golden Visa, it does not mean you can freely buy property.
III. Jakarta: The Most Likely Beneficiary Is Not Housing Prices, but the High-End Rental Market
Jakarta's logic is completely different from Bali's.
Changes brought by the Golden Visa may include:
- Increase in high-net-worth individuals
- Increase in long-term business residency demand
- Increase in demand for international schools and supporting facilities
Beneficial assets:
- High-end apartments
- Serviced apartments
- Long-term rental market
But note:
👉 It's not an overall market rise, but a structural benefit for the high-end segment.