Bali property prices continue to skyrocket and show no
sign of slowing.
October 2007Bali property prices have
increased by massive amounts in the last ten years despite
the tragic events that have befallen the island in recent
years, having reached record prices never before seen in
Bali, and the boom is showing no signs of slowing down.
Demand for land in Bali has been fuelled by the healthy
recovery in Tourism that has taken place since the dual
tragedies of the past few years. Many more foreigners
along with more and more local Indonesian investors have
acquired properties in Bali as they feel it is a safe and
secure place to settle and invest despite the recent
troubles. In fact, even after the attacks, Bali property
prices have continued to increase dramatically,
Over the past ten years the world property markets have
been going through the roof and Bali property prices have
followed suit to keep up with this demand. Cliff-top and
beachfront land which, ten years ago was in huge abundance
and as cheap as a few hundred dollars per 100 square
metres, has all but disappeared from the central areas of
South Bali for all but those developers with the deepest
of pockets, and are now trading at prices of upwards of
20,000 USD.
Of
course, Bali property prices are dependent upon the area
that you wish to buy.
Prices variation depends upon three factors: location,
location and location. Cliché it may seem but proximity to
the ocean, the downtown scene and the ricefield views are
paramount to the price of property in Bali.
To
give you some idea of the increase in Bali property
prices, here are a few specific examples of the land value
increases over the past ten years from 1996 to 2006
according to Exotiq's latest figures. (All prices are
quoted in USD for one are of land. One are
of land equals100 square metres): -
Oberoi has risen from $2000 per 100 square metres in 1996
to $100,000 in 2006. Cliff-top Bukit from $2000 to
$23,500.
Seminyak from $1,500 to $25,000 .
Ubud riverside land from $2,500 to $12,500.
Batu Belig from $2,500 to $22,000.
Jimbaran ocean view from $4000 to $18,500.
Bali property prices by comparison are almost half the
price of a comparable villa in Phuket, Thailand, which is
less attractive, more expensive and with a longer rainy
season than Bali.
The market and the buying public know just how valuable
prime Bali land is, so property prices can only continue
to rise. Despite these increasing prices, there seems to
be no end to the profits to be made on investments in the
best Bali property.
Written by
Michael Travers
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