Through the last few months a lot of our potential buyers have been calling us, asking “Are there any villa owners, who are desperate to sell…?” and “Why is the property prices not dropping like many other places in the world..?”
Obviously, they are as buyers, interested in making a “good deal”, but there are several logical reasons to why the real estate market is so strong and stable in Bali!
Firstly, very few properties have debt since they are mostly paid in cash, and therefor the owners are rarely in a hurry to sell.
Secondly, most owners know that the financially consequences of COVID19 are just another “bump in the road” like the volcano eruption and the earthquakes have been. They know, that the lucrative rental business will be back eventually.
Thirdly, Bali is getting more and more noticed worldwide as one of the best places in the World to invest in land and properties. The business magazine Forbes has specifically mentioned Canggu as a great investment in an article back in 2019. They stated Canggu to be “the Brooklyn of Bali” because it’s trendy, hip and a great place for digital nomads. Read the article in Forbes here.
The overall conclusion and prediction from Propertia Bali, is that we are not going to see a “fire sale” in the real estate sector in Bali due to the COVID19.
Crisis or not, there will always be great deals to be made, but we are convinced, that we will not see an overall collapse of the property market in Bali. But with that said, it is still extremely important, that your property is priced according to market value.
Contact us for a valuation of your property here.