Where to foreigners in Bali?

27.01.2011 19:25
Homes in good condition in the interior of the island of Bali is very difficult to find, and most new buildings are occupied or owned or constructed solely for the purpose of subsequent lease.

"Older" house exposed to the tropical climate of the island, and if the owners do not maintain them in proper condition, the objects are destroyed.

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According to observations of local realtors, the demand for property, located away from the sea on Bali in recent years has risen sharply, mainly due to the citizens of Australia, Hong Kong and Singapore. According to Ricky Virapatrii, representative of the organization Bali Villa Association, «until 2000 foreigners in Bali almost was not, but then demand from them has increased significantly."

Foreigners are forbidden to own land in Bali. They have to either rent it or buy from a local representative, writes The New York Times.

Many foreigners prefer to lease land and build her new home, says a senior consultant for Ubud Property Jared Collins. For example, since 2005 the value of land suitable for construction in the popular holiday region of Ubud has grown almost threefold, largely due to the activity of aliens.

Currently, the average price of the lot suitable for building land in this region is about 90 million - 180 million rupees, or $ 10,000 - $ 20,000. Rental property in the vicinity of Ubud is worth about 1.1 million - 2.9 million rupees ($ 125 - 325) per 100 square meters. m per year. Leases are usually concluded for a period of 20 to 25 years, with possibility of extension to 70 years.

Experts recommend that foreigners aware of some local habits. So, before starting the construction of his home they wish to meet with the head of the local community - banjar - and agree on a blessing because if the land was cursed, local builders will not work there.

Content tags: Overseas property
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