Real Estate in Bali – #1 Property Prices in Bali

Bali real estate
Bali real estate
Image by Lucija Ros on Unsplash.

Last year I sat down with Terje H. Nilsen, co-owner of Seven Stones Indonesia to discuss “What’s Wrong With Real Estate in Bali?” and we discussed six aspects of the property market here we thought would have the largest impact on both vendors and buyers.

We concluded that, despite what many pundits were saying, that actually nothing was wrong! It’s the sentiment and perception that’s not exactly right.

A year later, we thought it about time to give you an update and to see if our perceptions were on point or not.

This is the first in a series of six posts that Terje looks at each issue we raised. The first being about property prices, because there have been claims that transactions had slowed after 15 years of unprecedented growth. We wanted to see if this was actually true or not and if it was why.

What Terje noted last year was that certain areas were experiencing a slow down. He argued this was because popular locations like Seminyak and Sunset just didn’t make financial sense any more. Prices were sky rocketing and value was being undermined because of it.

He suggested that this was a driving force to push interest into other, cheaper parts of Bali like Canggu and further west, to Ubud as well as all along the east coast.

So, a year later, the question is was this accurate and what’s been happening?

Terje believes an adjustment in those hot spots has happened and we’ve seen properties being transacted at lower prices.

This is good news!

However, there are still owners who are holding on, praying that prices will turn and pick up again.

They will, but we don’t think it’s a good idea to hold your breath for too long.

In the outer areas not much has happened. This is largely because there simply hasn’t been much interest.

Terje predicts this will change, especially as tourism numbers continue to grow and Bali is slated to become a center of distribution for those visitors into the government’s plan to develop new tourist destinations across the country, which it’s calling the “10 New Bali’s”.

Overall he thinks property prices have reached the lowest they’re going to get. The market has stabilized and prices in prime areas are slowly on the rise again and seeing good capital gain. Just not as much as before.

The difference between leasehold and freehold is also something worth considering as this seems to be dependent on areas and popularity. We wrote a blog recently about the Market Forces in Bali Real Estate, which addresses this.

Another thing to talk about are projects and the impact they will have on prices in their respective areas. Trump’s new resort in Tanah Lot being a prime example, but there are others slated for Tabanan and Pandawa near Nusa Dua.

Many thanks for your time Terje and I look forward to posting the next installment of our series on Market Forces in Bali Real Estate.

If you’d like more insights into Bali’s property market get in touch with us today through



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Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

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Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.