10 Strategic Locations for Buying Property in Bali

The global economy stood at a standstill during the early stages of the COVID-19 pandemic. As mobility was significantly reduced due to social distancing mandates, many businesses were forced to halt or slow their activities.

Is Buying a Property in Bali a Good Idea?

Due to the global disaster, many businesses were forced to shut down or downsize. This situation led to a significant economic slump and a massive decrease in spending. Vaccine rollouts continue to occur, and herd immunity is slowly being achieved. Thus, the global economy begins to recover gradually.

With economic recovery on the horizon, 2023 would be the best time to invest in property. This is because of the steadying economic conditions, price corrections, and government aid that boost spending.

Things to Consider Before Investing in Property

Owning a property in Bali needs thorough consideration. One of which is to update your knowledge with the recent policies. Different than locals, foreigners are imposed stricter rules for their property investments. However, the rules also safeguard them from the risk of bad property deals in Bali. Here are a few points for your consideration.

• Foreigners historically not allowed to own property in Indonesia, except buildings with a strata title.
• Now, foreigners can enter long-term lease agreements for up to 70 years.
• Foreigners cannot buy properties outright but can ‘own’ properties through long-term leases.
• To own property, individuals must determine the right exercisable over the property or land.
• Before buying a property, a Property Title Background Check is necessary in Indonesia.

A property Title Background check is crucial because it helps identify the original certificate of ownership and the legal status of the property. Besides that, the particular step will be beneficial for detecting disputes, outstanding payments, and other relevant information.

Reasons for Buying a Property in Bali

Bali, in itself, is an excellent location for many things. Buying property in Bali would be a good decision as it is an international tourist hub that continues to attract local and international tourists. Aside from Bali’s popularity among tourists, the climate for conducting business is also very hospitable. Stable prices, high demand, and dynamic conditions primarily influence it.

These factors increased property prices in Bali by approximately 25% every year. This number is expected to grow to twice the initial number within 3 to 5 years. Bali’s infrastructure also is continuously improving and is built based on culture.

The Provincial Government works hard to ensure the balance between the two to ensure that the Balinese culture remains intact during rapid development. The infrastructure is also made specifically to increase efficiency and ease for travelers and locals.

Locations to Invest in Balinese Property

Seminyak

Seminyak is a step up from Kuta, filled with posh restaurants and bars. Aside from that, Seminyak also has several spas and shopping centers, making it a prime tourist spot.

Pererenan

Pererenan is a quiet region that is less developed than the others. It has ample opportunities and is projected to see tremendous growth. It is due to these reasons that property prices are on the rise.

Umalas

Umalas is sandwiched between Seminyak and Canggu, making it a prime investment spot. It still has the availability of land and holds abundant choices for investment. It is quieter and secluded, thus making it a preferred option for a large number of tourists.

Canggu

Canggu is an up-and-coming area in Bali, mainly filled with digital nomads, hipsters, and yogis. The location is excellent as the establishments within this region are relatively new. Canggu property is selling fast as demand is at an all-time high.

Tabanan

This area is expected to develop rapidly and is the center for intensive infrastructure development. The prices of property in this area have remained relatively stable. Some development plans have already begun in this area and continue attracting premium property investors.

Kerobokan

This area is much different from others on the list as it is more down-to-earth and connected to the locals. It is still very close to all the action and provides easy access to other areas such as Canggu, Seminyak, and Denpasar.

Seseh

Seseh is mainly unoccupied, but there are plenty of investment opportunities for those looking. Unlike Canggu, Seseh is relatively untouched. Thus, it is a strong contender for early bird investors looking to have properties in less famous regions.

Uluwatu

Uluwatu may be considered one of the safest options as it has some luxury spots and exclusive properties. It has several hidden beaches and is a Mecca for surfers worldwide. Look for the beautiful beach property in Bali.

Ubud

The lush jungle surrounding Ubud has become a sanctuary for many digital nomads, home to Bali’s rich culture and rice fields. Ubud has several co-working spaces which attract those who are there to work. Ubud is one of the most popular tourist destinations, making it an excellent investment region.

Sanur

Sanur, Bali is perfect for those who are already aged. It offers a slower ambiance and lifestyle compared to the bustling nature of other regions. The location is continent and is packed with all the relevant facilities. Rentals within this area have increased revenue in recent years.

Foreigners looking to decode the complicated agrarian laws to invest in Bali can contact InCorp for assistance on company registration and also land & house ownership.