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|January 01,1970Investing in Paradise: Bali Properties
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Property prices and ABSD rates are rising like the sea levels, making it challenging for Singaporeans to invest in a second property... unless it's overseas!
Many people are already eyeing Malaysian properties due to its proximity to Singapore. But there are also attractive opportunities in other countries. Take Bali, Indonesia for example. Though it's a bit further from Singapore, it has compelling potential. So you might want to read through this article before you bet the rest of your money on Malay homes.
Rich in culture, breathtaking views, and delicious food, Bali attracts millions of visitors annually. In fact, the number of tourist arrivals has only gone up since COVID restrictions were lifted, and it has now surpassed pre-pandemic levels. In 2023 alone, Bali welcomed over 14.6 million tourists, 5.2 million of which are foreign. This is a significant increase from the previous year, and the numbers are expected to continue growing.
In recent years, the island of the Gods has also become a land of digital nomads. With plenty of workshops, boot camps, and networking opportunities, Bali has become the go-to destination for remote workers who want to have a good work-life balance and enjoy a laid-back island lifestyle. The visa-on-arrival policy combined with the relatively low cost of living have also made Bali particularly attractive to Russian expats trying to escape the war.
The influx of visitors not only kickstarted new businesses but also drove up the demand for properties, especially vacation rentals. So much so that Bali's real estate market has become the most popular in the country.
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