Surabaya

Real Estate Agencies in Surabaya, Indonesia

Services Offered

1. Property Listings: Agencies provide a range of listings for residential and commercial properties, including apartments, houses, and office spaces.
2. Property Management: Some agencies offer management services for landlords, including tenant screening, rent collection, and property maintenance.
3. Consultation Services: Real estate agents can provide market analysis, investment advice, and legal guidance related to property transactions.
4. Rental Services: Assistance in finding rental properties, negotiating lease terms, and handling paperwork.
5. Sales Services: Help with buying properties, including negotiations, documentation, and closing processes.

Typical Costs

1. Rental Costs:
   • Apartments: IDR 2,000,000 to IDR 10,000,000 per month, depending on location and size.
   • Houses: IDR 5,000,000 to IDR 20,000,000 per month.
2. Buying Costs:
   • Prices vary widely based on location and property type. For example, apartments can range from IDR 300,000,000 to IDR 1,500,000,000.
3. Agency Fees:
   • Typically 1 month’s rent for rentals and 2-3% of the property price for sales.
4. Additional Costs:
   • Notary fees, taxes (usually around 5% for property purchases), and maintenance fees for managed properties.

Procedures for Renting or Buying Property

1. Renting:

   • Search: Use online platforms or visit agencies to find listings.
   • Viewings: Schedule property viewings with the agency.
   • Negotiation: Discuss rental terms, including duration and deposit (usually 1-3 months).
   • Documentation: Sign a lease agreement and provide necessary identification (passport, local ID).
   • Payment: Pay the first month’s rent and deposit.

2. Buying:

   • Search: Identify properties through agencies or online listings.
   • Viewings: Visit properties of interest.
   • Offer: Make a formal offer through the agency.
   • Due Diligence: Conduct property inspections and verify ownership documents.
   • Agreement: Sign a sale and purchase agreement, often facilitated by a notary.
   • Payment: Pay a deposit (usually 10%) and finalize the remaining balance at closing.

Local Considerations and Cultural Aspects

1. Language: Bahasa Indonesia is the official language. English may not be widely spoken, so consider hiring a bilingual agent.
2. Cultural Norms: Building relationships is important. Engage in polite conversation and show respect during negotiations.
3. Legal Framework: Foreigners can buy property but typically must do so through a local entity or leasehold agreements. Consult with a legal expert for guidance.
4. Neighborhoods: Research neighborhoods for safety, amenities, and proximity to work or schools. Popular areas include Surabaya’s city center, West Surabaya, and East Surabaya.
5. Market Trends: Stay informed about local real estate trends, as prices can fluctuate based on economic conditions and infrastructure developments.

Recommended Real Estate Agencies in Surabaya

1. Ray White Surabaya: Offers a wide range of properties and professional services.
2. Century 21 Surabaya: Known for its extensive listings and customer service.
3. Harcourts Surabaya: Provides comprehensive real estate services, including property management.
4. JLL Indonesia: Focuses on commercial real estate but also has residential listings.

This structured approach will help you navigate the real estate market in Surabaya effectively.