Apartments for sale in Medan
Today, the cost of apartments in Medan is comparable to the price of housing in some of the foreign metropolises. At the same time, the real estate market in Indonesia is one of the most promising investment directions. Many people choose a country with a warm tropical climate as a place for permanent residence, work, and business.
Medan is the largest city on Sumatra Island and is the administrative centre of the province of North Sumatra. It has two airports and a seaport. Unlike other Indonesian big cities, it is more calm and authentic. There are many beautiful architectural monuments, a beach, and perfectly developed urban infrastructure. The city has a university, several hospitals, shopping centres, schools, and temples. The main profit North Sumatra receives from agriculture. Traditionally, tobacco, tea, coffee, and rubber trees are grown here.
Not only Indonesians but also foreigners can buy flats in Medan. In recent years, the country’s government has been actively engaged in attracting foreign investment. Recently, foreigners have been allowed to buy apartments in Indonesia in private ownership. This requires the fulfilment of two basic conditions:
- The purchased property must be located in a special economic zone (free trade zone, free economic or industrial zones).
- The value of the property in Indonesia must not be less than a certain amount. Different price thresholds are set for different regions of the country. For Medan and its provinces located in North Sumatra, the minimum purchase amount for an apartment is $65,000.
If the property is not within the authorised purchase zone, a foreigner may acquire it for long-term use, but the price threshold must also be respected. The most common period of use for a flat in Medan for foreigners is between 20 and 45 years, and can be extended for an additional fee. The first extension period is usually specified in the contract.
Apartments prices in Medan
Those planning to buy an apartment in Medan for investment and living can choose from a wide range of properties for sale. Both affordable studios and luxury penthouses can be found in the city. The cost of flats for sale in Medan depends on many factors, but the main ones are:
- Property location;
- Its class (premium, business, economy);
- Floor area;
- Availability of transport and social infrastructure within easy access.
Let's have a look at some examples of flats that are suitable in terms of price for foreign citizens. A fully furnished studio of 40 m² can be purchased for the minimum allowed amount of $65,000.
A luxury residence of 100 m² with 2 bedrooms and 2 bathrooms is sold for $183,000. The flat is fully furnished, has modern premium finishes, and is located in a secure residential complex with a private gym and swimming pool.
A two-level residence of 140 m² with 3 bedrooms, a maid’s room, a study, and 4 bathrooms, fully furnished and fitted with appliances, will cost $209,000.
The price per square metre of these residential properties varies from $1,500 to $1,800. Actual prices of apartments in Medan can be seen in the catalogue on our website.
Investment apartments in Medan
Indonesia’s real estate market is in a developing stage. The country’s economy is growing at around 5% per annum and the percentage of the population in the middle class is also growing, which increases demand and prices for local housing. All these factors indicate that today is a good time to buy a property in the city. Housing prices in the city have not yet reached their peaks and have high growth potential. Moreover, you can easily find quality properties here at an affordable price.
Investors who plan to invest for the long term can consider the option of renting out their homes and earning passive income. For this purpose, it is worth choosing residential complexes in areas with good infrastructure, close to large shopping centres, schools, and public transport stops. The average income from flats and villas in Indonesia is 5.75% per annum.
It is possible to buy a property for further resale directly from the developer in instalments over several years. Real estate under construction can increase in price by 30–60%.
Buying apartments in Medan
Indonesia is one of the relatively new destinations for overseas investors and buyers. In recent years, the Indonesian government has been gradually simplifying the procedure for buying property for foreigners, which opens up great prospects not only for capital owners but also for ordinary buyers who want to move to the warm country for permanent residence.
In the catalogue on the website, there are offers of flats for sale in Medan with prices, photos, and technical characteristics. You can choose accommodation in a newly built or off-plan house or favour fully furnished apartments on the secondary market.
For the convenience of your search, you can choose prices in different currencies as well as sort the options by number of bedrooms, floor area, and a range of other parameters. We constantly research the Indonesian real estate market and update information in the catalogue, so our clients are among the first to learn about new interesting offers and can easily find the right object for future purchase.