Sinarmas Land: "Buy property with tax amnesty"?
- Indonesian property developers are aiming to grab a slice of the US$30b expected to be brought back to Indonesia under the Tax Amnesty programme
- Funds brought back through the programme must be kept in Indonesia for three years and can be invested in several ways including property investments
- Indonesian lender, PT Bank Tabungan Negara is partnering with some developers to offer investment opportunities to its clients
- Indonesia's residential property sales grew 1.5% q/q in 1Q16
- Wealthy Indonesians have a historical preference to invest in property. Sector could thus be the first to benefit from tax amnesty inflows.
- Counter has gained 4% since beginning end of last week.
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