Bali's Real Estate Boom: Don't Miss Out on Paradise!
Remember his prediction for a record-breaking year in Bali real estate? Well, it's happening! says Lawrence, owner of Best Bali Real Estate. He foresaw at the beginning of 2024, a surge of investment is transforming the island's property market.This is your chance to capitalize on a thriving market fueled by several factors: Global Interest: Buyers worldwide are recognizing the potential of Bali's property market.
Resurgent Tourism:
Retirement Haven: Bali's idyllic lifestyle is attracting retirees, especially Australians seeking a sun-drenched paradise.
Property Prices In Bali Boom As Foreign Investment And Tourism Grow
Posted in Bali Sun Published: March 27, 2024
The demand for villas, apartments, commercial buildings and land on the island by international investors, expats and developers is seeing prices skyrocket.
Bali is governed by nine regencies: Badung, Denpasar, Tabanan, Gianyar, Bangli, Buleleng, Klungkung, Karangasem, and Jembrana.
Badung Regency is home to the highest concentration of tourist attractions, resorts, and facilities. It comprises resorts like Kuta, Legian, Seminyak, Canggu, Jimbaran, Uluwatu, and Nusa Dua.
Rumah123 has revealed that international demand for properties and land in Badung Regency has grown by 92%. Other areas have also seen significant growth, including Denpasar, where interest is up 81%, followed by Surabaya in Java, up 49%, and North Jakarta, also up 46%.
Speaking at a panel discussion, the Head of Research at Rumah123, Marisa Jaya, explained, “Rumah123 notes that the growth in demand for property from foreigners in 2023 experienced rapid development compared to 2022.
“The potential of the foreigner market is expected to accelerate the growth and progress of this industry even better in 2024.”
Despite huge growth, looking at figures nationally for Indonesia, South Jakarta is still ranked as the number one spot for foreigners in Indonesia. The Central Business District of the capital city is a favorite for city-slicking expats.
However, many still choose to fly into Bali just for the weekend.
The demographics of the forge in investors searching for properties in Badung Regency and Bali more broadly make for interesting reading, too.
In 2023, foreigners looking for property in Indonesia were mostly from Singapore, the United States of America, Australia, Malaysia, and Japan.
Jaya explained that policies, including the Golden Visa policy, have made it easier for foreigners to invest in property in Indonesia.
However, she noted that more policy changes could help open up the market further. She explained, “If the relaxation of policies and regulations set by the government is implemented consistently at the general and regional levels, foreigners receive sufficient [communication about changes].”
“This will stimulate a positive market response and support the growth of the national property industry in the future.”
Yet, there are an increasing number of people in Bali who are opposed to and critical of this huge development boom.
Leaders, including Ex-Deputy Governor Cok Ace, have called for serious spatial planning assessments to be completed as soon as possible and for existing legislation on property development to be implemented to the letter.
Hoteliers and travel stakeholders have noted that by 2025 resorts like Canggu risk having too many hotels to keep up with demand.
This runs the risk of economic collapse and a mass exodus of businesses from the area, leaving behind a ghost town resort that just ten years ago was still a quaint coastal community dependent mostly on agriculture and community-based tourism connected to surfing.
Like Canggu, Uluwatu has undergone a rapid transformation from a quiet local village and farmland to a booming tourism resort.
The area, now referred to in the tourism sector as Uluwatu, spans the Pecatu area, which is the southwestern portion of the Bukit Peninsula.
Footage shared recently by the Stop Uluwatu Destruction group illustrates the conflicts the island is facing more broadly as tourism development booms.
In the video, local resident Eva Kandra shared her deep distress that construction crews building a huge resort next to her family home and temple refused to stop noisy building work even just for a few minutes during the recent Kuningan festival so that the family could worship in peace.
Bali's Current Hottest Real Estate Markets
"Bali is Hawaii 30 years ago"
Three months ago Lawrence predicted 2024 would be the most explosive year yet for the Bali's real estate market, especially on its popular East Coast in or near the first Resort Area in Bali, Sanur .
"2024 the most explosive year yet"
"Sanur not Snore Anymore"
According to Wikipedia. Sanur pronounced sah-noor) is a coastal stretch of beach east of Denpasar in southeast Bali (about a 30-minute drive from Ngurah Rai International Airport)For the 26 years he lived in Sanur it was called "Snore" because it attracted Seniors and Baby Boomers to quiet lifestyle, famous beach and inexpensive cost of living.
Recently Bali has been showered with accolades in 2023 ,& 2024 snagging titles like "Second Best Destination in the World,"
This translates to one thing, a tourism boom, and with it, a surge in rental income.
Remember his saying, "Bali real estate demand is directly proportional to tourist demand".
"Bali real estate demand is directly proportional to tourist demand"
The fuel for Sanur's coming Real Estate firestorm: 2,000 to 3,000 New Employees:
The massive Bali International Hospital is set to open its doors, bringing with it a wave of medical professionals and support staff seeking comfortable digs.Where will Doctors, Medical Technicians, and Support Staff Live?
5 - Star Hotel 1,000 Staff ?
The swanky new Meru hotel will need a place for its team to call home, injecting further demand into the market.New Icon Mall - 300 to 500 Employees:
Talk about a lucrative demographic!
So, where will all these new residents live? Sanur and its suburbs, of course.
Here are Lawrence's predictions on the three most sought-after areas of the East Coast, perhaps all of Bali in the next 12 -24 months.
#1 Area With Most Demand
This is due to the growing popularity of the area as a tourist destination and the increasing number of businesses and medical facilities moving in.
No Room at the Inn:
Just as Mary and Joesph found in Bethlehem just before Jesus was born recently there is no rooms in any of our inns.Unfortunately, there is not much available housing in these areas, as they are mostly commercial and hotels.
However, there are a few options for those who are looking to buy or lease a home in this sought-after location.
Bali Emerald Apartments:
They are perfect for those who are looking for a modern and stylish home in a great location.
PT. Bali Luxury Villas Start at $228,888.
For those who need more space, we also have a few award-winning Bali Luxury Villas available for sale.
They are perfect for those who are looking for a luxurious and spacious home in a quiet and peaceful location.
Bali Luxury Villas and Apartments are located within a short eight minute walking distance to Sanur's famous white sand beach.
They are also close to a variety of restaurants, shops, and bars.
If you are interested in buying a home in one of the most sought-after areas in Bali, we encourage you to contact them today.
They will be happy to help you find the perfect home for your needs.
#2 Area - Demand
While many eyes are on Sanur for the upcoming Bali International Hospital, savvy investors might find hidden gems close by.
This area, conveniently located within 1-10 kilometers of the hospital, offers several advantages:
Affordability: Escape the higher property prices of Sanur and capitalize on this area's lower costs.
High-Caliber Community:
Bali Paradise Beach Estates already boasts residents such as major Developers and Hotel owners plus, an A-listed couple, two doctors, and other successful individuals. This creates a desirable and dynamic community for future residents.
Beyond Borders, Beyond Expectations:
Remember: This area provides a unique opportunity to live well, invest wisely, and be part of a thriving community just steps away from the Bally International Hospital. Don't miss out on discovering this hidden gem beyond the borders of Sanur!
Brand New Luxury Retirement Villas:
# 3 Area Most Demand
Beyond the Bypass: Uncovering Renon & East Denpasar's Potential
While past development left some concerns – smaller plots, lower construction standards, and bumpy roads – change is afoot.
Infrastructure upgrades are on the horizon, promising a brighter future for the area.
But here's the real draw: prices here are significantly lower than the popular East Side, making it a prime location for savvy investors.
Envision it – owning a sprawling property, hundreds of square meters of opportunity! Build two or three stunning villas, keep one for yourself, and sell the others to recoup your investment, essentially securing your dream home for free.
Intrigued? We'd love to be your guides! Let us unveil hidden gems waiting to be unearthed in Renon & E Denpasar.
This area isn't just about a bargain; it's about embracing potential, about shaping your own Bali paradise.
Ready to ride the Bali East Coast wave?
So, pack your bags, your sense of adventure, and your investment savvy, because Sanur and its suburbs are about to become the real estate El Dorado of Bali.
Remember, this is just the beginning. We will keep you updated on all the sizzling developments in the East Coast real estate scene, so stay tuned for more insider tips and insights.
In the meantime, start browsing Best Bali Real Estate Listings – the future of Bali's real estate is bright, and Sanur is its shining star.
P.S. Don't forget to share this post with your fellow real estate enthusiasts! Let's spread the word about Sanur's golden future.
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For information or inspection in English contact the Baby Boomer, President, Lawrence by Telephone or WhatsApp at +628123814014.
For information or inspection in Bahasa Indonesia contact the President's Spouse, a Licensed Indonesian Notaris, Azizah at +62 811-3864-993
ABOUT US:
Together with her partner and spouse Lawrence who has 50 years of Real Estate Experience, 20 Years of which is in Bali they own and operate award-winning 20-year-old Pt. Bali Affordable Lifestyles International ( PT. B.A.L.I. ).
Indulge in the pinnacle of luxury and efficiency with this esteemed team of over 70 professional staff, proudly offering an array of services for Buying, Selling, Leasing, and Renting Asian Real Estate.
For an unprecedented ten years running, they have been awarded the Certificate of Excellence and the Hall of Fame Award from the esteemed TripAdvisor, cementing their place among the top 2% of hotels and villas listed worldwide.
With clients all over the globe singing their praises, they are indisputably one of Asia's most renowned travel and real estate investment experts.
TESTIMONIAL:
"Honesty and professionalism are everything when you're dealing with real estate but when you can also find the most knowledgeable people to advise you and help you with what you need, why go anywhere else...Hands down the best in Bali!"Bo B, UNITED STATES- 2022
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