Bali Real Estate Market is Insane (what are you people smoking?)

JackStraw

I've seen a handful of villas on OLX and via word of mouth selling for 500,000 - 800,000 USD (or more). These are in East Bali, not really near any trendy area. Are they nice villas? Sure but for that price, that seems absolutely ridiculous. That's on par with western prices. Are people not aware you can buy land and build a beautiful establishment for 200,000 - 300,000 USD? What are you guys smoking and how do I get some myself...it seems everywhere around the island homes and land prices are inflated beyond belief. That Shabu2 must be top notch haha Is there a basic understanding of a real estate market here or does everyone just expect the prices to go up and up for eternity?

Markit

You may also be talking to people that don't really want to sell. It's not too strange here for the builders to leave, job well done, and the for sale signs to go up. People have their houses for sale but aren't too bothered if it doesn't sell and on the other side if some fool comes along with the dosh then nothing ventured...

Foamcrest

What a jaundiced view of Bali and the Balinese. I think you’ve joined the wrong Blog if that’s the sort of attitude you bring to the site.

mugwump

I can't agree with everything you say relaxnow, but I welcome your input. The forum has seemed to have slipped a bit over the past few years when we no longer have much debate. Debate without hate is thought provoking and interesting, and I for one welcome your comments. Stay here and don't become discouraged.

tel522

JackStraw wrote I've seen a handful of villas on OLX and via word of mouth selling for 500,000 - 800,000 USD (or more). These are in East Bali, not really near any trendy area. Are they nice villas? Sure but for that price, that seems absolutely ridiculous. That's on par with western prices. Are people not aware you can buy land and build a beautiful establishment for 200,000 - 300,000 USD? What are you guys smoking and how do I get some myself...it seems everywhere around the island homes and land prices are inflated beyond belief. That Shabu2 must be top notch haha Is there a basic understanding of a real estate market here or does everyone just expect the prices to go up and up for eternity?

Prices over the last year have been tumbling - 40% + before covid , property here is generally junk with monster maintenance ,some of the dodgy countries in africa iv lived in ,the houses are built better including somalia . For sure there are a few on the "wacky backy" out of touch with the market and the realities of living on a an island in the ring of fire .

JackStraw

tel522 wrote Prices over the last year have been tumbling - 40% + before covid , property here is generally junk with monster maintenance ,some of the dodgy countries in africa iv lived in ,the houses are built better including somalia . For sure there are a few on the "wacky backy" out of touch with the market and the realities of living on a an island in the ring of fire .

Exactly! Like you're gonna tell me that 3 bedroom villa with alang alang roof, "ocean view" AKA "first in line for tsunami death view" and within reach of the island's largest active volcano is $600,000?? I'll take that risk for $200,000 maximum.

relaxnow

The problem is the Balinese seem to think all Bule are fools, they have to understand the old days of tourists coming to splash the cash has gone in some respects its cheaper to live in your own country, the Balinese had a good run at easy income but it is a different ball game now, read the facebook or twitter etc all saying how they miss their Balinese familys because they come to Bali twice a year on holiday etc and now cant stand the thought the Balinese are starving beacuse they cant come, no balinese person will ever go hungry as they look after each other, and there is no such thing as a poor Balinese as they all have assets of one kind or another but choose not to borrow or put the cert to the bank, Balinese rule of thumb is money in if can and say you are poor and hide the brand new car where stupid Bule cant see it.

JackStraw

relaxnow wrote The problem is the Balinese seem to think all Bule are fools, they have to understand the old days of tourists coming to splash the cash has gone in some respects its cheaper to live in your own country, the Balinese had a good run at easy income but it is a different ball game now, read the facebook or twitter etc all saying how they miss their Balinese familys because they come to Bali twice a year on holiday etc and now cant stand the thought the Balinese are starving beacuse they cant come, no balinese person will ever go hungry as they look after each other, and there is no such thing as a poor Balinese as they all have assets of one kind or another but choose not to borrow or put the cert to the bank, Balinese rule of thumb is money in if can and say you are poor and hide the brand new car where stupid Bule cant see it.

Of course, you are generalizing here. Not ALL Balinese see Bule as fools but that being said, many do and in all fairness, many Bule in Bali are fools and bring the scams upon themselves. I like to call Indonesians "opportunistic." If a bule is dumb enough to walk right into a trap, than that's Darwinism baby

Markit

Fred2 wrote contracted price was Aud $2000.00 finished price Aud $2400.00 . When I see prices of US $600,000 and I pay Rp90,000 a day for a good builder???????

I think you're suffering from zeroitis? Not sure how many are missing? I would suggest that prices of 600k are dependent upon size of the house(s) and price of the land. Anyone that builds a 3 bedroom on 3 or 4 are has no garden and no space at all - the locals build like that and I wouldn't live there - when the neighbor farts you know what he had for lunch.

JackStraw

Markit wrote I think you're suffering from zeroitis? Not sure how many are missing? I would suggest that prices of 600k are dependent upon size of the house(s) and price of the land. Anyone that builds a 3 bedroom on 3 or 4 are has no garden and no space at all - the locals build like that and I wouldn't live there - when the neighbor farts you know what he had for lunch.

Really? my friend has a 4 are plot of land with a 2 story house and a large garden with a pool. seems like plenty of space in my opinion,

tel522

My ideal is 20 are plus , with good bit of growing space , house in the middle well away from the neighbors ,In a sweet location , I aint found it yet :)

relaxnow

Yes jackstraw it was a generalisation but some just cant see the real Bali warts an all as they have read the brochure and been faithful for years holidaying in Bali to help the balinese as they are poor people ??? and what a difference we made, ask the question why is 1 are of land in say Tabanan they are now asking 800 juta per are when you need a proffesional rockclimber to survey it ?, and you will get the income of 250,00 a year return if good coconuts grow, it was Bule with rose tinted glasses and dreams that put the idea into the heads of Balinese that there is easy money to be made which you touched on in your post 600 but you max is 200 because that is what its worth. it will be interesting in the next few months to see when the credit and banks start repossesing, i for one have the funds ready to pick up a few bargains and i will not cry to think oh dear what a shame, maybe jaundiced as someone said but reality is reality.

JackStraw

tel522 wrote My ideal is 20 are plus , with good bit of growing space , house in the middle well away from the neighbors ,In a sweet location , I aint found it yet :)

I think that's the idea for many people (myself included). just waiting for those winning lotto numbers to kick in someday

JackStraw

relaxnow wrote Yes jackstraw it was a generalisation but some just cant see the real Bali warts an all as they have read the brochure and been faithful for years holidaying in Bali to help the balinese as they are poor people ??? and what a difference we made, ask the question why is 1 are of land in say Tabanan they are now asking 800 juta per are when you need a proffesional rockclimber to survey it ?, and you will get the income of 250,00 a year return if good coconuts grow, it was Bule with rose tinted glasses and dreams that put the idea into the heads of Balinese that there is easy money to be made which you touched on in your post 600 but you max is 200 because that is what its worth. it will be interesting in the next few months to see when the credit and banks start repossesing, i for one have the funds ready to pick up a few bargains and i will not cry to think oh dear what a shame, maybe jaundiced as someone said but reality is reality.

Everything is inflated in Bali pretty much. Especially if you are a Bule but don't let that discourage you. Think positive. For one, there are still plenty of wonderful locals who do not judge people based on skin color here. For the ones that do and try to pull a fast one on you, then simply fight fire with fire. As I touched upon in my last post, only the true numbskulls get their asses worked on this island. If you have even a half bit of common sense, you can run circles around the rest of the bule here. Example #1. I know a retarded Russian guy who just bought 5 ARE of land around the corner from a giant pile of literal trash behind GWK. He paid around 600 juta/are for this piece of shit. Example #2: I know a very smart bule who just got 4 ARE of land near Balangan in a beautiful, quiet residential neighborhood. Full sunset, ocean views to the west and beautiful vistas of the rest of Bali to the north. The price was quoted around 600 jt/ARE and he got it for 300 jt/ARE. Personally, I still think 300 juta/ARE is a fortune to live on top of a dry rock with water problems smack dab in the middle of a major tourist area but that's just my opinion. The moral of the story is don't be a retard and you won't be treated like one.

Markit

Fred2 wrote So when I said that a cousin paid Aud $2400.00, that's not a number I plucked out of my ass. I lent Aud $2000.00 to help as they are not rich.

Fred I'm not trying to start an argument but I'm sure you or your brother in law or his dog CANNOT BUY A HOUSE FOR IDR 24,000,000 - you can't even get a decent motorbike for that money. I want to see pictures.

Balifrog

Foamcrest wrote My point being Balifrog is dont let your age restrict your thoughts. Give it a go, sniff around and see what’s out there, it took us two years to find our land and we just love it.

To each his own, we all have different views or situations. I lived in a lot of countries, longest I stayed in any was 10 y in Thailand, 8 y in HKG. I am happy at the moment in Bali, but can't see myself living here 10 years. Plenty places with sun and beaches in the world. 3 kids, early/mid 20's . 1 in France, 2 in Thailand, none interested in inheriting a house in Bali.

Juggler

We live in the dreaded south bali at the end of a quiet gang on 5 are and we love it. Just goes to prove we are all different..

tel522

Juggler wrote We live in the dreaded south bali at the end of a quiet gang on 5 are and we love it. Just goes to prove we are all different..

We too live on the "dark side" ten minutes away from half a dozen beaches , quiet in the forest area of nusa dua but 15 minutes away from all the necessary facilities , suits us .

relaxnow

You are spot on lad, but the retards think that Balinese are poor people ? ok a few are as to be expected in any society but the overwhelming majority are not but still play the beggar and i cant blame them, Banjar’s have a say in the value of said land but the individual can[I] negotiate [/I] of course that is the norm anywhere, but how many look deeper into the Balinese culture ( they should as they come here twice a year and stay in beachfront hotels ) and walk over to the beach each day to their Balinese " family" and buy the beer the crap they sell etc etc the when a situation like corona develops then Oh shit all our Balinese families are dying of hunger as they are poor ? and we can’t go there to throw rp at them but never once been to their village to see the beautiful house/villa etc and 4 cars sitting in the drive with zero mileage on them as they are for image only, but the hard bit is for folks who have a genuine interest in relocating / retiring to Bali is they have been outpriced due to the Bule throwing money and inflating prices on the island and a lot of the incoming dollar are questionable.

JackStraw

relaxnow wrote You are spot on lad, but the retards think that Balinese are poor people ? ok a few are as to be expected in any society but the overwhelming majority are not but still play the beggar and i cant blame them, Banjar’s have a say in the value of said land but the individual can[I] negotiate [/I] of course that is the norm anywhere, but how many look deeper into the Balinese culture ( they should as they come here twice a year and stay in beachfront hotels ) and walk over to the beach each day to their Balinese " family" and buy the beer the crap they sell etc etc the when a situation like corona develops then Oh shit all our Balinese families are dying of hunger as they are poor ? and we can’t go there to throw rp at them but never once been to their village to see the beautiful house/villa etc and 4 cars sitting in the drive with zero mileage on them as they are for image only, but the hard bit is for folks who have a genuine interest in relocating / retiring to Bali is they have been outpriced due to the Bule throwing money and inflating prices on the island and a lot of the incoming dollar are questionable.

Couldn't agree more. These stupid bule throwing money around the past 20 years specifically have really hyperinflated the real estate market. Balinese people are absolutely insane thinking their land is worth what they're charging but who can really blame them when there are retards coming in here and throwing their entire trust fund into a plot of land in Canggu to build a failing villa or failing cafe? The actions of the many retarded people have ruined it for the few smart ones out there. I still plan to get a great deal on my land but even when I do, I still know I'll be paying far more than it's actually worth and for that, I blame the idiots.