Bali real estate has been viewed as a good investment option because prices have continued to rise over the last decade, which is one of the effects of increased tourism in Bali. It is hoped that property in Bali will perform well over time, but for this to happen, tourists must become more and more interested in visiting Bali.
Due to strong demand and a large number of transactions over the past few years, Bali’s real estate and the property market has continued to expand. Most areas of Bali have seen significant increases in real estate costs, particularly tourist hotspots like Seminyak and Canggu.
Although buying real estate and property for rent in Bali is tempting, you should think carefully before making a decision.
Location
Location is often one of the first factors buyers take into account. Investors and homebuyers typically look for a location that suits their needs and preferences.
You will start your search for a property after deciding on the ideal location by investigating the property, the neighborhood, the types of development that are currently underway, and future development plans.
Property and Land Size
In Bali, there are many different kinds of villas, and each kind has its own market. In the city, tourists typically rent smaller villas; those who enjoy city attractions typically rent larger villas.
You might consider adding at least two smaller villas to the property if the size of the land allows it. However, every villa is required to have its own garden, pool, and entrance. This building design offers the greatest degree of rental flexibility.
If the property is significantly bigger, it could construct a magnificent villa to host a variety of events, including weddings, birthday parties, anniversaries, corporate events, and weddings.
Zoning Boundaries
When purchasing property in Bali, zoning regulations apply. To obtain a building permit, you must ensure that the property on which you are building is in the appropriate zone (IMB).
You cannot construct on land that is designated as a “Green Belt,” for instance. Ask legal counsel if you are unsure at all times.
Construction and Building Permits and Taxes
If you want to rent out a property, you must have a rental permit. Verify that the necessary permits are in place if you want to purchase an operational villa.
In addition, whether you are buying an existing building or creating your own property, you must make sure that construction taxes or VAT have been fully paid. Taxes on construction are typically paid by the developer or contractor.
Land certificate
Check the land certificate information to make sure the land complies with the certificate. Be sure to also check the location and boundaries as written on the certificate with a notary.
