{"id":20754,"date":"2016-07-25T15:02:21","date_gmt":"2016-07-25T08:02:21","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-bali-set-for-an-australian-driven-property-boom\/"},"modified":"2016-07-25T15:13:12","modified_gmt":"2016-07-25T08:13:12","slug":"is-bali-set-for-an-australian-driven-property-boom","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-bali-set-for-an-australian-driven-property-boom\/","title":{"rendered":"Is Bali set for an Australian-driven property boom?"},"content":{"rendered":"


\nAussies are eating, praying, and loving their way to the fabled Indonesian island
\nSunrise above Ubud, Bali. Image credit: Dean Croshere (Flickr)
\nFor years, Australians have exploited their proximity to Bali, a destination fabled in book and bucket-list, for some beachside fun and perhaps a little self-introspection.
\nNow Australians are staying a bit longer, thanks to the efforts of several Australian-owned real estate agencies to make deeper inroads into the Indonesian island.
\nIn the inland town of Ubud, Australian real estate agency Ray White has recently opened a branch, an impetus for expatriates to secure homes in a locale that has taken a backseat to coastal areas like Canggu and Seminyak as property hotspots, according to Domain.
\nMany tourists know Ubud as an important setting for Elizabeth Gilbert\u2019s memoir \u201cEat Pray Love\u201d and the subsequent Julia Roberts adaptation. It has become the hippest zip code on the island, where one can find Bali\u2019s trendiest chefs and designers.
\n\u201cUbud is a very strong market for real estate. And there\u2019s plenty of building going on too. So we think the arrival of big firms could really unlock Ubud for Australians,\u201d I Made Ari Sandya, the principal for Ray White in Ubud, told Domain.
\nMore: Lombok doesn\u2019t have to become the next Bali \u2013 here\u2019s why
\nSandya explained that the Australians coming to Ubud can be broken down into retirees and young couples, dividing their time between Bali and Australia.
\nThere is one catch though: Freehold ownership for foreigners is largely forbidden in Bali or anywhere else in Indonesia, for that matter.
\nAlthough the rule still applies, Indonesian President Joko Widodo in January signed a law that allows expatriates or resident foreigners to buy 30-year \u201cright to use\u201d on property titles. Experts say the new rule has loosened definitions of residency, such that occasional tourists may be able to purchase land under it.
\nTodd Lauchlan, country head of Jones Lang LaSalle Indonesia, lamented that a full change in foreign ownership legislation has yet to be finalised however.
\n\u201cI think the biggest impact, in terms of market impact, of allowing foreigners to buy will be Bali. The demand is already there but hasn\u2019t really been satisfied by the current structure. It will also unlock other markets that have previously been under the radar,\u201d he said.
\nRead next: Joglo architecture meets minimalist design in this tropical Bali abode
\n
\nSource : property-report.com
\nRead more…Is Bali set for an Australian-driven property boom?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aussies are eating, praying, and loving their way to the fabled Indonesian island Sunrise above...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-20754","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5oK","jetpack-related-posts":[{"id":1461,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-ubud-balis-latest-affluent-enclave\/","url_meta":{"origin":20754,"position":0},"title":"Is Ubud Bali\u2019s latest affluent enclave?","date":"January 14, 2016","format":false,"excerpt":"\r An established hub for free thinkers and lovers of Balinese culture, the town of Ubud is now attracting a more affluent set Long the home of old school island settlers and bohemian types lured by its rich creative traditions, Ubud is witnessing something of a luxury awakening. The formerly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/Ubud-Hanging-Gardens.jpg?fit=740%2C475&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":782,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-the-new-year-has-in-store-for-indonesias-key-hotel-markets\/","url_meta":{"origin":20754,"position":1},"title":"What the new year has in store for Indonesia\u2019s key hotel markets","date":"January 5, 2016","format":false,"excerpt":"\r Bali and Lombok have reportedly struggled with occupancy rates\u00a0in the last 12 months Long considered as\u00a0one of Southeast Asia\u2019s\u00a0most treasured tourist destinations, Bali over the years has attracted local, regional and international visitors to its beautiful shores and well-developed infrastructure. Lombok has recently joined the party as an alternative\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/bali-and-lombok-hotel-market-1024x768.jpg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":841,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-2016-holds-for-indonesias-key-hotel-markets\/","url_meta":{"origin":20754,"position":2},"title":"What 2016 holds for Indonesia\u2019s key hotel markets","date":"January 5, 2016","format":false,"excerpt":"\r Bali and Lombok have struggled with occupancy rates\u00a0in the last 12 months Long considered as\u00a0one of Southeast Asia\u2019s\u00a0most treasured tourist destinations, Bali over the years has attracted local, regional and international visitors to its beautiful shores and well-developed infrastructure. Lombok has recently joined the party as an alternative Indonesian\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/bali-and-lombok-hotel-market-1024x768-1.jpg?fit=1024%2C768&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1829,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesia-now-more-open-to-foreigners-owning-homes-but-theres-a-catch\/","url_meta":{"origin":20754,"position":3},"title":"Indonesia now more open to foreigners owning homes, but there\u2019s a catch","date":"January 18, 2016","format":false,"excerpt":"\r President Widodo has signed a new regulation revoking a 1996 policy Foreign investors living in Indonesia are now legally allowed to purchase \u201cright-to-use\u201d property titles for 30 years, with a possible extension of up to an additional 50 years, following President Joko Widodo\u2019s signing last week of a revised\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/Kampung_indonesiaurbanstudies.blogspot.com_.jpg?fit=740%2C493&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2060,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indonesian-property-sales-in-2016-seen-to-accelerate-by-up-to-12\/","url_meta":{"origin":20754,"position":4},"title":"Indonesian property sales in 2016 seen to accelerate by up to 12%","date":"January 20, 2016","format":false,"excerpt":"\r Projections are up by 10-12 percent Indonesia\u2019s improving economic growth, infrastructure upgrades and the implementation of new government policies will be boon to the country\u2019s real estate sector, according to property industry group Realestate Indonesia, Reuters reports. 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Tatiana Popova\/Shutterstock Indonesians are denouncing the\u00a0construction of a Bali resort licenced to bear US President Donald Trump\u2019s name \u2014 and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20754"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=20754"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20754\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=20754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=20754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=20754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}