| Luxury residential markets in the cities of Jakarta and Bali, Indonesia had been touted as growth markets in 2012, Knight Frank’s Prime International Residential Index (PIRI) indicated. Indonesia’s GDP growth that corresponded with the income of the middle class contributed to the 38% growth in the luxury residential market in Jakarta. Bali, a favourite tourist destination, also saw a 20% growth.
This positive spike in the residential luxury market in Indonesia could sustained if non-residents and foreigners could be given the chance to own property in the country, Knight Frank’s report said...............................................Full Article: Source
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