What is off-plan property in Bali?
Off-plan property in Bali is a type of property that developers sell before the construction is completed. This means the buyer purchases a property based on the developer’s plan, design, and specifications rather than buying a completed and existing property. In some countries, these properties are called ‘pre-selling units’, while in Bali, they’re called off-plan properties.
Reasons to buy off-plan property in Bali
There are several reasons to buy off-plan property in Bali rather than a second-hand property or build one yourself:
- Cheaper than completed properties: Developers offer lower prices during the initial phases to attract early investors so that you can buy off-plan properties for a lower price.
- More flexibility to customize: Buyers can customize the property to their taste, offering a personalized touch without the hassle of undergoing a complete renovation or construction.
- Potential capital growth: By the time the property is completed, the value may have appreciated due to factors such as the overall development of the area, increased demand, or inflation.
- Modern designs and standards: Off-plan properties incorporate the latest design trends and building standards.
- Warranty and quality: Developers often provide warranties on new builds, ensuring that any defects or issues that arise post-completion will be addressed.
How much does Bali’s off-plan property cost?
Off-plan properties in Bali can vary greatly depending on several factors, such as location, size, and market conditions, which usually change over time. In Bali, well-developed villas and houses can cost between IDR 2.68 billion ($168,840) to IDR 13.42 billion ($845,460).
How to buy off-plan property in Bali?
Off-plan properties are widely available on the island due to the demand from tourists looking for affordable Bali rental houses without the need to oversee the development process. When considering off-plan properties in Bali, it is advisable to research and select established developers with a proven track record of delivering high-quality projects. It can help find a reputable and reliable real estate agent in Bali to minimize risks associated with off-plan property purchases.
Property prices of Bali real estate
Property costs usually vary depending on the region and type of property. The table below gives an overview of the average property prices in Bali.
| Average price | Average price/m2 | Annual growth | Rental yield | |
|---|---|---|---|---|
| Land | IDR 1.8 billion ($113,400) | IDR 1.7 million ($107) | 20.8% | 9.4% |
| House | IDR 2.5 billion ($157,500) | IDR 14.8 million ($932) | 40.2% | 44.8% |
| Commercial | IDR 4.2 billion ($264,600) | IDR 17 million ($1,071) | 0.1% | 44.4% |
Confused about the costs of off-plan property in Bali? Let us help!
Purchasing off-plan property in Bali can be a cost-effective investment, but it’s essential to understand the associated expenses, payment terms, and potential risks. Our team of experts specializes in assisting buyers through the off-plan process, ensuring transparency and a secure investment. From legal compliance to negotiating with developers, we provide the guidance you need. You can email us directly at [email protected] for professional assistance.
Valuable insights and practical advice, distilled from years of expertise and real-world experience.
Frequently Asked Questions (FAQs)
What does freehold property mean in Bali?
Freehold property in Bali is a type of property ownership where the buyer has complete and permanent ownership rights. Only Indonesian nationals can buy freehold property under the Hak Milik (HM) land title.
Are off-plan properties cheaper?
Off-plan properties are not necessarily cheaper, as the prices of properties can vary depending on various factors such as location, size, and quality of construction. However, off-plan properties may offer introductory or special incentives, potentially resulting in cost savings compared to buying a completed property.
How to start a PMA in Bali?
Starting a PT PMA in Bali includes registering the company, obtaining necessary licenses and permits, fulfilling capital requirements, appointing local shareholders, and adhering to local regulations and laws. Email us at [email protected] to start a PT PMA in Bali.
