Tuesday, December 23, 2008

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. Cliff-top 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 20,000 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. Cliché 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 Exotiq’s 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 $100,000 in 2006. Cliff-top Bukit from $2000 to $23,500.
Seminyak from $1,500 to $25,000 .
Ubud riverside land from $2,500 to $12,500.
Batu Belig from $2,500 to $22,000.
Jimbaran ocean view from $4000 to $18,500.

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.

By Lina Harijanto

Michael Travers is a Bali-based 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.

Article Source: http://www.articlesbase.com/real-estate-articles/bali-property-prices-continue-to-skyrocket-and-show-no-sign-of-slowing-318925.html