Bali’s luxury real estate profits from tourism and investment growth
Analysts say prices of villas on freehold land have jumped more than 10 times in the past several years. Global Property Guide estimates that they are priced around US$1,100 to US$2,300 per sq m
PUBLISHED : Tuesday, 15 May, 2018, 9:02am
UPDATED : Tuesday, 15 May, 2018, 9:02am
For generations, Bali’s sun-kissed tropical island paradise is the jewel in the crown of Indonesia’s booming tourism industry and an important foreign exchange earner of the country.
Tourism feeds the real estate industry in Bali. A report by Global Property Guide, released in February, estimates that 80 per cent of Bali’s economy depends on tourism, and that there are about 30,000 expatriates living in Bali. These, coupled with rising investments by Indonesians and foreigners resulted in “unprecedented property price increases in recent years”.