Under Indonesian law, foreigners have been unable to own property outright since 1960. Recent comments about property law suggested that the Indonesian government was considering allowing foreign ownership of property if the value exceeded 5 billion rupiah (about $370,000).
They have decided against this limitation now, and foreign owners can buy a perpetual right to build and use the land ("Hak Pakai") OF ANY VALUE which can be passed down to their children so long as the property development wasn't government subsidised. No time limits or renewals apply.
Reference: Buying an Apartment, Townhouse, House or Land in Indonesia
Foreigners will still not be entitled to "Hak Milik" or freehold title.