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1. What Foreigners Can Actually Hold
| Title | Term | How |
|---|---|---|
| Hak Milik (freehold) | Perpetual | Not available to foreigners, period |
| HGB via PT PMA | 30 + 20 + 20 yrs | Foreign-owned company holds it; you own the company |
| Hak Pakai | Up to 80 yrs* | Personal, needs KITAS/residency + price floors |
| HGB in IKN zone | 80–95 yrs | Nusantara investors with approved plans |
*Hak Pakai extensions are discretionary — structure via PT PMA where possible.
2. Price Map 2026
- Sepaku (IKN fringe): Rp 400–600K/m², +38% YoY — speculation premium priced in.
- Balikpapan city: 2BR apartment Rp 12M/mo rent; strata-title units from ~Rp 1.2B.
- Penajam: cheaper land, weaker liquidity — buy only with road/water access confirmed.
3. The HPL Check (Do Not Skip)
Much IKN-adjacent land sits under HPL (state management rights) — sellers offering "cheap certificates" often sell land they can't transfer. Verify at BPN/ATR IKN office: certificate authenticity, HPL status, zoning (RTRW), and that the seller matches the certificate holder. Cost: a notary (PPAT) check ~Rp 2–5M. Skipping it has cost buyers everything.
4. Red Flags
- Nominee "agreements" holding Hak Milik for you — unenforceable, void in court.
- Girik/petok D land sold as certified — convert first, pay later (via escrow).
- Promises of IKN-zone fast-track without an OIKN-registered plan.
- Prices far below Sepaku comps — usually HPL or dispute land.
Buying near IKN?
We intro Balikpapan notaries & agents — free.
Not legal advice. Confirm with a Balikpapan PPAT notary and BPN IKN before any payment.
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