We Love Bali Part 2
Bali Property Report
We Love Bali, Part 2
A couple of weeks ago I went on a bit of a tirade about the We Love Bali initiative launched by the Ministry of Tourism and the Creative Economy (I love that title) and the Ministry of Finance. The program that has set aside 3.3 trillion rupiah; 70% of which will directly and immediately stem the flow of disruption in the tourism sector, while 30% – roughly 1 trillion rupiah – will be set aside for discretionary spending. Scary little phrase, isn’t it? Let’s no go there though. Favoring an optimistic outlook over a jaded one, which, while it seems ‘right’, will bring no joy, this writer remains optimistic that the funds will indeed trickle down in the short run, patch some holes in thousands of family economies and stimulate the “at once” business that an island depending on tourism for 70% of its GDP so desperately needs. Several grass roots programs are in place providing for pockets of communities all over Bali, but we need this place to open back up with as much flourish as we can muster and I for one, support any program that makes that happen sooner rather than later.
Now, onto Property in Bali.
Here’s a brief little success story. I will keep it brief, but look to drive home a point. We are getting enquiries for both leasehold and Hak Milik properties from Java, Australia, South Africa, Singapore and more. Very diverse locations, all with a central theme. Get me out of here!
Overseas investing has never been for everyone, but if you are reading this then clearly you are one of the brave. Looking to invest for rental income? Or for a residence? Or for something that does a little bit of both – washes its own face and puts a few bucks in your pocket every year? The buying/selling market in Bali remains active and the fortunate range of foreign and domestic lucky ones who can get access to the island are finding some amazing deals. Don’t want to be left behind? Or miss out on that opportunity to have bought “back when”?
Take the example of a family coming from Cape Town. While the decades had been good to them, it was time to retire and get out of South Africa. An Indonesian LLC was formed https://balinirmanaproperty.com/investing-in-bali-real-estate-through-a-company-the-pros-and-cons/ from abroad by Power of Attorney agreements, KITAS were issued (to get into Bali), properties were inspected by way of video walk throughs, a selection was made, more Power of Attorney Agreements were signed to allow a local lawyer to sign the AKTA JUAL BELI to transfer ownership and…..voila! The family now owns a sprawling 4 bedder on half an acre with unending rice field views – in their own names and for the rest of their lives should they so choose.
Would you be willing to do that? It is literally happening nearly every day here in Bali at the moment, even with Indonesian buyers from JKT who know a good deal when they see one.
To find out more, please call Patrick on +62 817 973 30301 (WA&Hp); [email protected]