Bali is Indonesia’s main tourist destination. It is a province that consists of the island of Bali and a number of smaller neighboring islands including Nusa Penida, Nusa Ceningan, and Nusa Lembongan. 83% of the population of Bali practices Balinese Hinduism. Denpasar is the capital city and the main gateway to Bali since the island’s main airport, I Gusti Ngurah Rai International Airport, is located within the city. Bali’s economy is mostly made up of tourism and agriculture.
Also widely known as “the Island of the Gods,” Bali has seen an increase in international tourists over the last five years. According to the Statistics of Bali Province, more than 6 million foreign tourists and more than 9.7 million domestic tourists visited the island during 2018. The island attracts tourists from all over the world for its endless tranquil beaches, dramatic volcanoes, rich culture, enchanting spiritual energy, terraced rice fields, and striking sunsets. Tourism has had a positive effect on the price of real estate property. In fact, the island’s property market has become one of the best in Asia.
Learn more about the Bali villa market through trends and average prices.
The villas in Bali are expertly designed to highlight the tropical and paradise atmosphere of the island. Most of the villas are high end and the villa options are diverse, from private beachfront villas, private villas with pools, to traditional Balinese style villas.
Kuta beach is the most popular area for tourists, especially Australian. The area is filled with shops and bars. A multi-bedroom villa starts at 300,000 USD. Seminyak, located in north Kuta, is the most upscale area in Bali. It is home to the island’s most luxurious villas, spas, and restaurants. The price of a 3-bedroom villa normally starts at around 500,000 USD.
Ubud is located in the mountains and is popular for its tradition. It is also famous for having a more relaxed lifestyle. The villas in Ubud are usually designed with a bit of Balinese tradition style. The average price of freehold villa starts at 250,000 USD. Canggu has the most private beachfront villas as well as other villas of different style, size, and budget. Sanur, located in Denpasar, is quieter than other areas in Bali and the area is a bit overlooked by foreign tourists, but still has many private villas.
The average price per 100 square meters for a Villa in Bali is around 20,000 USD. Remember that there are 2 types of property in Bali, Freehold and Leasehold. The Freehold Title (Hak Milik) gives you the right to own the land and property, but only Indonesian citizens can have this title legally. The Leasing Title (Hak Pakai) is the proper way to have a villa; it gives foreigners the right to use the property for a certain period. If you wish to rent out your villa, you will need a Pondok Wisata (guest house license). Always remember to buy villas with IMB (Building Permit) and be respectful of the laws.
Bali is a relatively big island. Almost every area on the island has its own unique characteristics that will amaze visitors and the following are some of the more popular areas.
Many people come to the island to relax under the sun on the beaches, have some outdoor adventures, explore the surrounding sea by hiring a boat, indulge in its cultural heritage, or have fun in its nightlife scene. While there are people who stay in Bali to get closer to nature and live a healthier lifestyle, there are also people who come to party on the island’s popular and exclusive nightclubs. The cost of living varies according to the area you choose to live in.
Bali has countless temple ceremonies with traditional music and dance. You will also find that there are wonderful flower-petal offerings placed everywhere. It seems like everything on the island has spiritual meaning. Remember to always be respectful here. The island’s inhabitants are generous, kind, and warm. They are known to be friendly and smile a lot.
There are many transport options available to move around Bali, all at an affordable price. You can hire motorbikes for the most affordable option and quicker travel. Metered taxis are available; go for Bluebird taxis because they are all qualified and safe, they also have an app you can download just like Uber. Be careful of other blue taxis that look like Bluebird because they are known to rip people off. Uber is not available in Indonesia, but you can download similar apps called Go-Jek and Grab. The apps provide motorbike taxis as well as car taxis. Bicycle is the best option for short-distance travels.
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Price display
The median sales price is approximately $369,845 in Bali
The median price per square meter in Bali is $1,472
The Bali area currently has 164 properties for sale