Dream of moving to the Island of the Gods? You're not alone.
Bali is one of the most sought-after destinations for those looking to live in paradise. It's a place where you can embrace a laidback lifestyle, surrounded by breathtaking natural landscapes and immerse yourself in the rich cultural heritage of Indonesia.
Unsurprisingly, the Bali property market is booming. But just how much is real estate in Bali and where are the best places to invest?
Whether you're thinking of buying an investment property or making Bali your permanent home, you need the right information. Check out this article if you want to save time and money on your Bali property search!
In short, yes!
Despite being a popular tourist destination, Bali is still an excellent place to live. It's got so much going for it beyond just beautiful beaches and world-famous hospitality. And whether you're retired (retiree buying guide), a digital nomad or working remotely, there's plenty of opportunity to enjoy the island lifestyle.
Here are a few things you can look forward to upon moving to Bali.
It's becoming easier and easier for foreigners to move to Bali.
While there are a few necessary steps, you can rest assured that the process is relatively straightforward.
We've actually created a detailed guide for foreigners wanting to buy property in Bali. In it you'll find all the need-to-know information, such as:
Developers in Bali typically accept payments in most major currencies. However, the IDR (Indonesian Rupiah) amount may vary depending on the applicable bank exchange rates at the time of payment.
How much does a house cost in Bali?
That's highly dependent on the type and size of the property, as well as the location. Bali's property market varies greatly from region to region.
For example, in the popular tourist areas of Canggu and Seminyak, you can expect to pay a higher price for Western-style villas. But if you're willing to venture away from the coast and into more local areas, you'll find more affordable options.
→ Check our Bali investment hotspots guide
Overall, the cost of buying property in Bali is significantly lower than countries such as the United States, Australia, New Zealand and Singapore.
There's also a wide range of properties to choose from, including traditional Balinese-style homes and modern luxury villas with a private pool and ocean views.
According to real estate aggregator website www.dotproperty.id, the average price for Bali villas is IDR 14 million (USD $910) per square metre, while the average rent price is IDR 94 million (USD $6,110) per year.
This means that if you buy an expansive villa of 500 square metres, you can expect to pay around IDR 7 billion (USD $455,000) for the property.
As mentioned before, prices can vary significantly depending on location and type of villa. For example, a modern luxury villa in Seminyak could cost upwards of IDR 20 billion (USD $1.3 million), while a traditional Balinese-style villa in Ubud might only cost IDR 2 billion (USD $130,000).
In Uluwatu, property prices are on the up and up. You can enter the villa market for under IDR 4 billion (USD $260,000) by buying off plan. These villas are generally part of a larger development and come with shared amenities. For upwards of IDR 15 billion (USD $975,000), you can find stunning cliff-front villas in Uluwatu with access to exclusive beach clubs.
Things like the property size, local villa prices, rental income and whether or not the property has a swimming pool all affect the price.
→ Check our villa rental guide
To buy land in Bali is a more affordable option than buying a completed property.
The only drawback here is that you'll need to build your dream home from scratch. If you're coming in cold with zero prior building experience, this can be a daunting prospect. However, we can assist you throughout the process, so don't let that discourage you from considering this option.
Again, the price of land varies depending on location and size. Land prices in Uluwatu range from IDR 1 billion to IDR 20 billion (USD $65,000 to $1.3 million), again depending on the location and size of the plot. The closer you get to the cliffs and beach access, the higher the price.
In popular tourist areas like Seminyak or Canggu, you can expect to pay anywhere from IDR 500 million to IDR 1 billion (USD $32,000 to $65,000).
Land prices are significantly lower in more remote areas, such as North Bali or East Bali, where you can find plots for under IDR 100 million (USD $6,500).
Keep in mind though, that these areas don't have great access, nor do they have electrical or plumbing infrastructure in place – you’ll be required to foot the bill to set everything up.
Foreigners are not permitted to directly own freehold property in Bali. However, you can still invest in a villa in several other ways, such as leasehold, Hak Pakai (HP), Hak Guna Bangunan (HGB) or through a PT PMA. Most foreigners open a PT PMA in Bali and buy the villa through the PT PMA. Here is a step-by-step guide to buying property in Bali as a foreigner.
Yes! As long as you have the right advice and people on the ground to help you through the process, buying a property in Bali is suitable for first-time investors.
Apartments and villas are often priced quite similarly in Bali. While there are fewer apartments available, the average price is around IDR 14 million per square metre (USD $910). However, you can find more affordable options if you look outside of popular tourist areas.
Finding a sale in Bali is like finding epic waves at Uluwatu. Both brand new and older properties are often discounted, and it's common to find serious price drops on properties in Bali that’ve been on the market for an extended period of time. It helps to keep track of different Property Listings.
We're asked this question a lot. The answer is that while many villas do come with private pools, not all properties in Bali have one. If it's important to you, make sure to specify that in your property search.
Bali properties are on the up and up, and if you want to enter the local real estate market, sooner is better.
Property prices fluctuate and foreign investment is currently driving the lifestyle property market. If you're seeking an off-plan property, a block of land, an existing villa or a luxury cliff front property, Bali has it all. Hit the button below to start shopping Bali houses for your next phase in life.
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