Malang

Real Estate Agencies in Malang, Indonesia

Services Offered

1. Property Listings: Agencies provide listings for residential, commercial, and industrial properties for sale or rent.
2. Market Analysis: They offer insights into market trends, property values, and investment opportunities.
3. Legal Assistance: Many agencies assist with legal documentation and processes related to property transactions.
4. Property Management: Some agencies offer management services for landlords, including tenant screening and maintenance.
5. Consultation Services: Agencies provide advice on property investment, financing options, and local regulations.

Costs Involved

1. Agency Fees: Typically range from 1% to 3% of the property value for sales and around 5% to 10% of the annual rent for rentals.
2. Legal Fees: Expect to pay around IDR 1 million to IDR 5 million for legal services, depending on the complexity of the transaction.
3. Notary Fees: Notary services for property transactions can cost between IDR 1 million to IDR 3 million.
4. Taxes:
   • Property Acquisition Tax (BPHTB): 5% of the property value.
   • Income Tax (PPh): 2.5% for sellers on the sale price.

Procedures for Renting or Buying Property

1. Renting:

   • Search: Use local real estate websites or visit agencies to find listings.
   • Viewing: Schedule property viewings through the agency.
   • Negotiation: Discuss rental terms, including duration, deposit (usually 1-3 months), and monthly rent.
   • Contract Signing: Review and sign the rental agreement, ensuring all terms are clear.
   • Payment: Pay the first month’s rent and deposit.

2. Buying:

   • Search: Identify properties through agencies or online platforms.
   • Due Diligence: Verify property ownership and check for any encumbrances.
   • Negotiation: Agree on the price and terms with the seller.
   • Legal Documentation: Engage a notary to draft the sale and purchase agreement.
   • Payment: Pay a deposit (usually 10% of the purchase price) and finalize the payment upon signing the deed.
   • Transfer of Ownership: The notary will handle the transfer of ownership and registration with the local land office.

Local Considerations

1. Cultural Norms: Understand local customs and practices in negotiations and transactions.
2. Language Barrier: Many agencies may not have English-speaking staff; consider hiring a translator if necessary.
3. Property Types: Familiarize yourself with local property types (e.g., leasehold vs. freehold) and their implications.
4. Regulations: Be aware of local regulations regarding foreign ownership of property, as there are restrictions for non-Indonesians.
5. Market Trends: Research the local real estate market to identify the best areas for investment or rental.

Recommended Real Estate Agencies in Malang

1. Ray White Malang: Offers a wide range of properties and professional services.
2. LJ Hooker Malang: Known for its comprehensive listings and market analysis.
3. Malang Property: Focuses on residential properties and provides property management services.

This structured approach will help you navigate the real estate landscape in Malang effectively.