Who doesn't know the island of Bali? The most popular tourist destination in Indonesia is interesting to visit because of its natural beauty and the uniqueness of its cultural diversity.
Nicknamed the Island of the Gods, Bali invites millions of domestic and foreign tourists to visit every year.
Data from Bali's Central Bureau of Statistics shows as many as 1,836,009 foreign tourists visited the island in the period from January to April 2024, up about 28.92 percent from the same period a year earlier.
Australian tourists still dominate guest arrivals to Bali with 23.35 per cent of the total foreign tourists coming to the island in April 2024.
But now, not only is Bali visited, but also attracts many people to invest by buying or renting properties such as land, villas, or opening business opportunities.
Terje Nilsen of Seven Stones Indonesia, a consulting firm engaged in market entry, investment, and legal services, said the phenomenon is “overwhelming” and has reached a tipping point.
According to him, several factors are responsible for the high interest of people to buy property in Bali.
“At first tourists come to Bali, then they continue to rise so more tourists come and want to invest,” Terje said.
Terje Nilsen from Seven Stones Indonesia
Endah Soekma, a housewife from Jakarta, said she and her husband were planning to buy land in Bali.
The reason is simple: Endah, her husband, and their three children enjoy the atmosphere of Bali every time they go on vacation.
“There are always new things we can enjoy, and the kids love it a lot,” said the 44-year-old. “Even when we were stuck for a month and a half unable to return home to Jakarta during the last Covid-19 pandemic, we could still enjoy.”
Endah Soekma dan keluarga
The reason is, she and her husband want to return home to Indonesia one day and spend old age with their friends who also bought land in the same area.
“We want to live in a quiet place in Ubud, and when we are old we can live next door to our friends and not live in a nursing home,” said the 36-year-old, who works as a cook in Adelaide.
Nataya Rachim
“We decided to build the house we planned to occupy when we were no longer working,” Wayne said. “Although we have not really decided, from the very beginning we bought this land in Lovina, we did not think about selling this house we are building when it is finished.”
Wayne gave input to foreign nationals intending to invest in Indonesia to be “comfortable” with the fact that there is a big difference between what is regulated by the Act and practice.
Armed with previous experience of living in Indonesia for quite a long time, Wayne does not question this because he is used to it, he said.
Wayne Palmer
“But if it hasn't been comfortable with those conditions, if something happens, it might be difficult for them to negotiate with contractors, for example, to deliver the service as promised because the law and government can't really be relied upon to provide that kind of certainty,” Wayne said.
Terje from Seven Stones Indonesia also gives a warning to those who want to invest, whether it is buying or renting a property in Bali, by doing due diligence or due diligence.
“The most important thing is to do due diligence. Check zoning, for example. It's a region for what, whether tourism or residential”Terje Nilsen from Seven Stones Indonesia
Furthermore, Terje reminded of the many risks if due diligence is not carried out, including fraud and the buyer's ignorance that the property is already mortgaged to the bank.
“So go deeper, more thoroughly (check) the property before making a transaction.”
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Ade Mardiyati
Disclaimer The material in
This report is general in nature and should not be taken as legal advice or relied upon for assistance in any particular circumstance.
In any important matter, you should seek the appropriate independent professional advice in relation to your own circumstances.
