The dream of buying a second home in Bali is a reality for many retirees, people working in the Asia-Pacific region.
One of our most popular destinations for a quick and cheap tropical getaway, Bali has a broad range of property options. But prices are not cheap anymore due to strong consumer demand driven by wealthy Indonesians (mostly from Jakarta and Surabaya), buyers from Australia and Europe, and Asian expats from Hong Kong and Singapore.
During the past five years, Bali has become a major investment opportunity, especially for the luxury property market. Since early 2012 land prices have skyrocketed – particularly in Legian, Seminyak and Petitenget, thriving beachside lifestyle areas with a plethora of luxury villas, upmarket hotels, shopping boutiques, world-class restaurants, bars and clubs.
Given soaring prices around Seminyak, developers and villa buyers have looked further afield.
Many moved north up the coast and also inland to areas such as Canggu, Tabanan and Tanah Lot, and in the other direction to Uluwatu, a windswept area on the island’s most southern tip.
A report in The Guardian states: “Development can be seen pretty much everywhere along the southern coast, with old buildings bulldozed to make way for new commercial properties, among them glittering cafes and restaurant ventures to cater to the ever-burgeoning market of wealthy clientele.”
“In the upmarket beachfront Canggu area, Echo Beach is now home to an Intercontinental hotel and the Sea Sentosa project, a resort that calls itself “the benchmark for unparalleled luxury”, while a Sunset Road extension is planned to link the capital, Denpasar, with Bali’s more western beaches.”
Land prices also have surged around seaside Sanur (an area inhabited since the 1960s by bule, the Balinese term for foreigners) and the cultural mountain village of Ubud, known for its yoga retreats, art galleries and brilliant green rice terraces. According to research by Elite Havens,
Ubud’s land prices increased by about 55% during 2012.
There are a range of alternatives for structuring one’s property ownership in Bali. Most Notary or Law offices can explain the rules to you.
Bali’s South East Coast. In particular, the quiet coastal village of Saba, 15 minutes drive from Sanur, 30 minutes from the airport (via the new Benoa bypass road), 20 minutes from Denpasar and 40 minutes from Ubud is a haven from th stresses of modern life.
The Saba property is a magnificent 6.810 square meter beachfront estate with 70 meters of beach frontage, and a superb five-bedroom villa consisting of two dwellings that combine Bali’s traditional elements with western luxury.
Approached from Sanur via the IB Mantra highway then by a scenic drive through rice fields, the property is at the end of very long paved driveway/private road. Surrounded by manicured gardens with vast level lawns and a sparkling swimming pool measuring 18 meters by 7 meters, the two-storey main residence has an large master bedroom suite (with a dressing room and stunning bathroom) on the upper level.
At entry level are an impressive entrance foyer, vast open-plan living and dining areas (flowing to the grounds outside), a large modern kitchen, two bedroom suites (with beach views) and beautifully appointed guest bathroom.
Also in the grounds is a spacious wantilan (an outdoor meeting and entertainment pavilion used for lounging and dining) with its own bathroom and a kitchen.
The second dwelling is a self-contained guest house with a living room, two bedrooms and a bathroom.
Certain to appreciate in value given its size and beach side location, the 6,810 square meter estate includes staff quarters and a 2,000 square meter parcel of vacant land which the owners have kept undeveloped as a green belt for absolute privacy. The 2,000 sqm parcel does have development potential or can be sold separately.
Since Bali property prices skyrocketed, it is impossible to find a beachfront property of this size with such close proximity to Sanur. When you consider the cost of land in this premium beachfront precinct, you are practically getting the house for nothing included in the property’s US$4 million price tag.
Written by Johnathan Chancellor & Margie Blok in 2014 for Property Observer