Sultra Stones
With beautiful beaches and a rich cultural past, it's easy to see why Indonesia's Bali is one of the world's most popular vacation destinations. Originally a rural agricultural, tourism now accounts for nearly 80% of Bali's income. Bali's transition into one of Indonesia's wealthiest districts and one of the hottest property investment locations in recent years was aided by the tourism boom.
The tourism boom has fueled the real estate market, resulting in unparalleled home price increases in recent years throughout the province. Canggu, a resort community in the southwest of Bali, is one such example, where opulent new villas, restaurants, and vibrant shopping options appear to have sprouted up almost overnight.
Six years ago, a four-bedroom luxury villa Bali built on freehold land in Canggu, was valued between $817,740S$954,030, according to a study by Global Property Guide. The identical villa is now reportedly valued US$1.7 million (S$2.32 million), representing a 143 percent price increase.
This country of more than 250 million people has seen its gross domestic product double in the previous decade, making it one of Southeast Asia's hottest marketplaces. Bali's strong economy is projected to stimulate property demand, resulting in further price hikes.
It goes without saying that tourism-dependent economies, such as Bali's, are ideally positioned to benefit from this expanding sector.
While property prices in Bali are still relatively cheap, there are still opportunities for investors to enter the market. For example, this luxury 2 bedroom villa in Bali start at S$226,000, which is less than the $1 million down payment required for a Singapore condo purchase!
An in-depth insights of property investment in Bali for Singaporeans
