
House prices in Denpasar experienced the highest monthly increase of 5.4 percent. A Flash Report by Rumah123.com for February 2023 noted price hikes in several areas like Badung and Denpasar.
Timothy Eugene Alamsyah, VP of Finance Strategy & Investor Relations at 99 Group, stated that the overall property price increase is a result of the growing interest in searching for homes in Bali over the past year.
“From January 2022 to January 2023, we noted an increase in search interest in Badung and Denpasar, Bali by 0.9 percent and 1.5 percent,” he said in the report released on Tuesday, February 14, 2023.
These two areas in Bali have been increasingly sought after since late 2022, aligning with Bali’s position as a leading national and global tourist destination.
Furthermore, ongoing infrastructure growth and the second home visa policy issued by the Directorate General of Immigration, Ministry of Law and Human Rights (Kemenkumham) of the Republic of Indonesia, also play a role.
“This non-fiscal government policy has the potential to attract the interest of Foreign Nationals to reside, engage in activities, and invest in Bali,” he explained.
Bali Property Prices, Increased Search Interest, Second Home Visa Policy