In Reply to: Bali in 20yrs time if this happens...... posted by Stavros on Thursday, 4. February 2010 at 15:30 Bali Time:
the existing situation?
We know that land cannot be owned outright by a foreigner.
A great deal of land is currently leased to foreigners of all sorts, who develop and build on it, either hotels, apartments, villas or houses.
Is the difference the time frame of 75 years?
I am aware of various lease periods, from 26 years and 32 years (apartments) and one was even advertised at 70 years (A house).
The ones for the shorter period have an apparent right of renewal for an additional similar period, making say 64 years a possibility.
In each case, the unimproved land remains the property of the Balinese or Indonesian land owner, and in theory will be returned when the "rental" or lease period is up?
I am obviously missing something here as to how the Balinese will become disenfranchised by this new move.
My confusion is further compounded by the fact that so much of the best commercial opportunities on the Island have been sold off to non Balinese anyway (Other Indonesian citizens).
Maybe someone can clarify why the "75 year rule" is going to make things so much worse than they already are??