Bali Property Prices Continue To Skyrocket And Show No Sign Of Slowing
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. Clifftop 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 20000 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. Clich 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 Exotiqs 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 100000 in 2006. Clifftop Bukit from 2000 to 23500.
Seminyak from 1500 to 25000 .
Ubud riverside land from 2500 to 12500.
Batu Belig from 2500 to 22000.
Jimbaran ocean view from 4000 to 18500.
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.
About the writer: Michael Travers is a Balibased writer specialising in Travel and Property Journalism. He has been living in Asia since the year 2000 and is currently living the dream in paradise.
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