10 Tips to Buy a Second Apartment in Jakarta for Investment and Residence 
10 Tips to Buy a Second Apartment in Jakarta for Investment and Residence 

10 Tips to Buy a Second Apartment in Jakarta for Investment and Residence 

Buying an apartment is a popular choice for urban dwellers who crave a strategic and practical place to live. Not only for living, apartments are also seen as promising investment instruments.

What is a Second Apartment?

A second apartment, also known as a resale apartment, is a unit that has been previously occupied. It can be sold by the owner for various reasons, such as relocation, upgrading to a larger unit, or financial needs.

Purchasing a secondhand apartment unit in Jakarta has its own advantages and disadvantages.

Advantages and Disadvantages of Buying a Second Apartment in Jakarta

Buying New Apartment Buying a Second Apartment
Price according to the real estate standards Lower price
Not ready for occupancy Ready for occupancy
Less need of repairs Already has investment value

As shown in the table above, the most notable advantages of a second apartment are its better investment value and lower price compared to new buildings with the same value. However, buying an apartment, especially a second apartment, requires careful attention and consideration.

Lets Move Group's 10 Tips for Finding the Perfect Second Apartment

1. Conduct Thorough Research on a Trusted Platform

Start your search by researching on a reliable property listing platform like Lets Move Group. We provide comprehensive information on the best secondhand apartments for sale, including price, owner profile, developer, location, and KPA simulation. You can also consult with our professional consultants who can help you find a unit that meets your specific needs.

2. Choose a Strategic Location with High Investment Value

Location is crucial when choosing an apartment. Look for one with easy access to your workplace and public amenities such as schools, healthcare facilities, restaurants, shopping malls, and public transportation. A strategically located apartment will not only make your daily commute easier but also increase its investment value when you decide to resell it.

3. Carefully Inspect the Building Condition

Before making a down payment, conduct an on-site survey to inspect the building's condition. Pay attention to details such as the condition of the bathroom, kitchen, and bedroom, and the completeness of the facilities.

4. Choose the Right Amenities to Suit Your Needs

Apartment facilities can be a valuable addition. Consider your needs and choose an apartment with the right facilities, such as a swimming pool, pet-friendly area, gym, garden, or 24-hour security. Look for an apartment that has the most complete facilities according to your needs.

5. Don't Be Afraid to Negotiate

Negotiating the price is a common practice in the apartment-buying process. Do it politely and logically, considering the completeness of the facilities, the condition of the building, and the location. For beginners, negotiating property prices can be too difficult to do. Consult with a professional consultant to find out the possibility of getting a more affordable price for the unit you want.

6. Understand Apartment Rules and Fees

Each apartment has different rules and fees. Ask for details about living rules, maintenance fees, and others to avoid misunderstandings later. Some of the costs you need to anticipate include the cost of transferring the name of the second apartment, interest rates,

Some of the costs you need to anticipate include the cost of transferring the name of the second apartment, interest rates.

7. Ensure Legal Compliance and Security of Investment

Make sure the apartment has complete and legal documentation. Check the completeness of documents such as HGB, SKBG, PPJB, and IMB to ensure the security of your investment and avoid disputes.

Smart Apartment Investment Tips

8. Consider the HGB Permit Period

Apartments have a maximum HGB permit of 50 years. Choose an apartment with a long remaining HGB permit to avoid renewal later.

9. Understand the Property Purchase Tax

Property purchase tax applies to secondhand apartments. Calculate and consider the tax costs, including PPnBM, PPN, AJB, Bea Balik Nama, PBB, and others.

10. For Property Investments, Determine the Right Target Market

Determine the target market for your apartment tenants. Is it for students, office workers, or young families? Choosing the right market share will maximize your investment returns.

Bonus: Apartment Ownership Credit (KPA), Procedures and Costs for Changing Apartment Ownership

Apartment Credit with KPA

Buying a second-hand apartment can be done with KPA. Take advantage of the convenience of credit with low-interest rates and long tenors to ease monthly instalments. Mortgage consultants at Lets Move Group can help you buy a used or new apartment with KPA schemes from leading banks that are partners of Lets Move Group. Apartment transactions with trusted consultant media provide security guarantees and legal guarantees for your dream property unit.

To find out more about the KPA scheme with Lets Move Group, visit the Apartment Ownership Credit guide page here!

Procedures and Costs for Changing Apartment Ownership in Jakarta 2024

The following are the procedures for changing apartment ownership in Jakarta in 2024:

1. Penandatanganan Akta Jual Beli (AJB)

Signing the Deed of Sale and Purchase (AJB) The first step is to sign the AJB before the Land Deed Making Officer (PPAT). Make sure the AJB contains complete and accurate information, such as:

  1. Names and identities of the buyer and seller
  2. Object of sale and purchase (apartment)
  3. Selling price
  4. The payment method
  5. Payment period

Payment of Luxury Goods Sales Tax (PPnBM)

The buyer is obliged to pay PPnBM of 5% of the apartment's selling price. PPnBM payment can be made through a bank or post office.

Certificate Checking

PPAT will check the apartment certificate at the National Land Agency (BPN) Office. Make sure the apartment certificate is free from disputes and mortgages.

Also read: Types of Certificates Required for Buying Property in Indonesia

Submission of Name Change Application

PPAT will submit a name change application to BPN. The applicant must submit several documents, such as:

  1. Photocopies of ID cards and family cards of the buyer and seller
  2. Photocopy of AJB
  3. Photocopy of PPnBM payment receipt
  4. Statement of physical control of the land plot

Issuance of New Certificate

BPN will issue a new certificate in the name of the buyer. This process usually takes 14 working days.

Apartment Name Change Costs

The following are the estimated costs for changing apartment ownership in Jakarta in 2024:

  • PPAT fees: 0.5% – 1% of the selling price
  • Right Transfer Registration Fee: 0.5% of the selling value
  • Acquisition Tax on Land and Buildings (BPHTB): 5% of the Tax Object Selling Value (NJOP)

Apartment Name Change Tips

Here are some tips for changing apartment ownership:

  • Use the services of an experienced PPAT.
  • Make sure all required documents are complete and accurate.
  • Make payments on time.
  • Monitor the name change process at BPN.

Here are some tips for changing apartment ownership:

Lets Move Groupas a trusted property platform, is ready to help you in your journey to buy apartments and land in Jakarta, Bali and surrounding areas. Visit the Lets Move Group website to get complete information about second-hand and new apartments, both for investment and comfortable living. As a smart buyer, you should be careful in choosing a second-hand apartment. Don't let your dream of owning the best apartment in Jakarta give you an unpleasant experience.

The tips above will help you in buying an apartment. Do your research, consider your needs, and choose the right apartment with a smart investment strategy.

Get Your Free Consultation

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