Location. Location. Location
In its 2019 Travelers’ Choice Awards, TripAdvisor named Bali as the best destination in Asia and 5th best destination in the world. According to the Badung Regency Tourism Office, 6.5 million international tourists and almost 10 million domestic visitors arrived at Bali’s Ngurah Rai International Airport in 2018.
Over the last few years, Canggu has become the most popular area. It has experienced a rapid surge in tourism, becoming the top choice for many long-term visitors in Bali.
Indonesia Residential Property Prices & Forecast
The Residential Property Price Index has been increasing by an average of 4.5% per annum since 2002. In the long-term, property prices rise along with the real gross domestic product (GDP) growth. The World Bank forecasts real GDP growth of 5.2% to 5.4% per annum from 2019 to 2021 in Indonesia.
Indonesia: Best Value Property in Southeast Asia
Indonesia still offers the best value in Southeast Asia because prices have been suppressed by current ownership regulations. It is not yet possible for foreigners to own condominiums on a freehold basis. These restrictions have kept prices artificially low compared to neighboring Southeast Asian countries.
Newly introduced regulations pave the way for more foreign access to the property market, boosting demand and continuing to drive up prices. Now is the time for investors to take advantage of this rewarding opportunity to buy an apartment in Bali.