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Best Guide to Bali Property Buying Yet
As it says in the opener this is the best guide I've been able to find, so far...
http://www.globalpropertyguide.com/Asia ... ying-Guide
I would be very grateful if some of the specialists here would try and pick it to bits.
It is from 06 so may be a little out of date but I was impressed with the independence of the source - all the "reports" I've read up till now did contain many, if not most, of what is explained here but not all in one place and not explained so clearly.
A real shocker to me was the amount of luxury tax (20%!!! - VAT is at 10% but doesn't apply to all buildings, either ) and what level of sqr. meterage or available wattage they start to apply at - a very good point to be aware of when buying in Bali - I think.
Sorry to beat this subject to death but I hope this will be the last time I will find anything new???
RE: Best Guide to Bali Property Buying Yet
mmm, yeh, this is a very 'by the book' guide.. i don't think you'll find anyone who actually pays that much.. or anywhere near that much.. the reality is that this site lists all the stuff that one may be supposed to pay (but rarely does) while not listing the things that you almost always need to pay but shouldn't have to (i.e. 'donations' to banjars and town councils to get your plans approved)..
ct
RE: Best Guide to Bali Property Buying Yet
Yeah, that's fine, but I always go from the starting point of - "This is the way it is legally" be it paying taxes or speeding down a highway. What ever the reality of any situation is is always flexible and many times open to interpretation - open to squirming.
In the end the amounts given here are probably the worst it could be, not how it will be.
Always be prepared for the worst and be happy when it aint that way.
RE: Best Guide to Bali Property Buying Yet
I have no idea what the VAT tax they refer to is, and no one I know does either. 20+ percent - get real, no one would buy a thing. I last paid less than 3k, total, to buy 80k of land.
RE: Best Guide to Bali Property Buying Yet
Having read a few articles I have to admit they (those at GPG) are on top of things. A slowdown in the US housing market - no way! And the 'Cambodian Surprises" - the surprise is that refer to the market there as if there is one, other than NGO's and some expat employee's who the f would live there. I've been and loved my trip throughout that country - and saw what some are claiming is the next coastal boom town of SEA - SihanoukVille - what a dump.
RE: Best Guide to Bali Property Buying Yet
I did a lot of research on this before leasing (No tax consequence for the Lessee). From my notes at that time, the only tax which is inherent in the Sale and Purchase process is the 5% sales tax for each of the buyer and seller. However, they even got that wrong because the 5% is levied not on the transaction price but the taxable value of the land (NJOP) whch is typically less than half of the current market value of land. This can be determined from the prior year's land tax payment (PBB).
There's quite a difference between 2.5% (Net) and 20+% isn't there?
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