Jakarta. Savyavasa, embodying the essence of luxury living in the esteemed Dharmawangsa neighborhood of South Jakarta, seeks to redefine the city’s residential standards, capitalizing on Indonesia's relaxed regulations on foreign property ownership.

Under the updated guidelines, foreigners now only need to submit basic immigration documents -- such as passports or visas- - to purchase properties in Indonesia. Previously, the government stipulated that foreigners needed long-stay and permanent-stay permits, known as Kitas and Kitap, for property purchases, with each permit being contingent upon meeting specific price thresholds.

Savyavasa, a prestigious project developed through a joint venture between world-class real estate developers Jakarta Setiabudi Internasional and Swire Properties -- stands as an emblem of this evolving landscape. Comprising three towers and sprawling across 3 hectares of lush greenery, Savyavasa promises an unparalleled living experience.

Situated in close proximity to leading healthcare and educational institutions, as well as premier shopping malls and dining destinations, Savyavasa offers a holistic living environment, ensuring a well-rounded and enriching way of life within the vibrant Dharmawangsa neighborhood.

Residents will revel in world-class amenities, including a Turkish-style hammam, a tennis court, pet-friendly facilities, gyms, barbecue pits and a playground. Moreover, nestled amidst the lush surroundings, residents will discover solace in the tranquility of a 1-kilometer jogging track, beckoning them to immerse in nature's beauty while nurturing an active lifestyle.

Chandra Asali, the President Director of Jantra Swarna Dipta, reports a surge in inquiries from prospective foreign buyers. To assist these individuals, the company has established in-house teams dedicated to guiding foreign nationals through the purchasing process, addressing legalities, and elucidating tax regulations.

"The regulations surrounding home ownership are still relatively new for foreign buyers. Our aim is to encourage them to explore our offerings with confidence. We provide comprehensive support, connecting them with legal advisors and addressing any queries they may have," Chandra stated during Savyavasa's recent top-off ceremony.

Sophie Watson Swingewood, the Vice President Director of Swire Properties, Indonesia and Jantra Swarna Dipta, disclosed that nearly 70 percent of the residential units in Tower 1 have been sold, with the other towers quickly catching up. The majority of buyers are Indonesian nationals, with a significant number of foreign passport holders also seizing the opportunity presented by the streamlined ownership process.

"The regulatory revisions have streamlined procedures for expatriates, fostering a diverse community at Savyavasa," Sophie stated to the Jakarta Globe.

While construction on the towers is ongoing, Bram Van Hoof, the Director of  Jantra Swarna Dipta, assures prospective buyers that they can inspect the actual apartments in person starting March 2024.

"We prioritize transparency. From March onwards, interested parties can tour our completed units within the towers, witnessing firsthand the superior quality we are committed to delivering," Van Hoof emphasized.

In essence, Savyavasa stands as a testament to Indonesia's evolving real estate landscape, offering a blend of opulence, convenience, and international allure in the heart of South Jakarta's most coveted neighborhood.