Bali is the capital of Indonesia. Many say is one of be the most beautiful holiday capital of the world. With its mountains containing volcanoes, lush green paddy fields, coral reefs, and stunning beaches, it is not surprising that millions of tourists arrive in Bali every year. There has been tremendous growth of the housing market in Bali in recent years. If are enamored by the beauty of Bali and want to buy a condo for yourself, you must keep the following points in mind.
Location is the most important
If you are attracted to a condo, it is because of its beautiful location. Location is everything in Bali. Do not compromise with the location only because you are getting a condo for less in a remote area.
Do not go too far away from water
The beaches and coral reefs of Bali are mesmerizingly beautiful. Make sure that the condo you are buying has an ocean view from the balcony. You can get cheaper apartments if you are willing to go 5-6 km away from the ocean. But if you are thinking in terms of ROI, buying a property close to the sea is a good idea.
Find a reliable property agent
This is very important for you when buying a property in Bali. Try to get to an agent who has his own office and also well known in Bali real estate industry. He will make you sail through the process of buying land or a villa with a clear title. Do not fall in the trap of fraudulent individuals who pose as property agents and dupe foreigners.
Free hold property is a big no for you
You are not eligible to buy freehold land in Bali if you happen to be a foreigner. You can get a villa or a piece of land or condo in an apartment in Canggu on the lease. Make sure you obey all the laws and regulation in place for foreigners interested in buying a property in Bali and you should be O.K.
Many foreigners make the mistake of using a local to invest in property. You can be easily fooled and your property is overtaken by the local citizen as there are no laws to protect the rights of foreigners in such cases. The better way to invest in a property in Bali is to acquire the ‘Right to Build’ with the help of a foreign-owned company that is registered in Indonesia. You can build your home in this manner and own it for 50 years with right t use extended by another 30 years.
Karl
P: +62 361 773 540
M: +62 815 5701 729
Jl. Sunset Road no 9A, Seminyak 80361
Bali, Indonesia.
ppbali.com
karl@ppbali.com
