Personal Insights Into The Property Market in Bali in 2017

What has sold and who's buying?

  • What has sold and who is buying?

Bali is resilient. It doesn’t seem to matter what happens here people seem to bounce back. Bali is also unique and it doesn’t seem to matter if bombs explode or volcanoes erupt people are still attracted to be here.

Although there have been short-term dips from the recent volcanic activity of Mount Agung nobody here is expecting any significant long-term impact with regard to foreign arrivals and investments.

And in terms of domestic investors or homebuyers looking for their slice of paradise, even the short-term dips haven’t been too hard.

In 2017, I was lucky enough to successfully help homeowners and homebuyers sell and buy their dream homes and out of those just over 90% of them were with freehold titles ranging from IDR 1.5 – 4.15 billion.

I find this very interesting.

Here’s why … for me, property up to IDR 5 billion sells faster than higher priced options. And I mean way faster. If the price is right we’re looking at less than 3 months from coming to market to a completed transaction.

The same doesn’t seem to happen in a higher price bracket. Even if the price is right properties over IDR 5 billion tend to take longer to transact for some reason. And it is no secret that million dollar properties can, and have been on the market for years until they eventually get sold.

  • But who actually buys these properties in Bali?

It’s my experience that almost 70% of my clients are Indonesian, middle class and come from outside of Bali. They’re looking for a holiday home in a beautiful place with easy access to their current home. Indonesian’s tend to prefer freehold, which is why such a high percentage of my transactions were freehold.

The remaining 30% or so are foreigners (who tend to prefer leasehold titles), mixed marriage couples and upper class Balinese. Interestingly enough this market segment is also buying leasehold properties, which just happen to be in that sweet price range of up to IDR 5 billion.


There’s a definite pattern here.

  • Is it really a buyer’s market?

Yes, it is! For new home seekers in Bali it might come as a surprise to know there are actually too many options available and buyers have amazing choices available to them.

Sometimes, however this can be confusing because when there are so many options on the table, buyers often spend more time looking than they were planning to do.

Multiple villa inspections and even multiple visits to Bali might be needed to make sure they don’t miss the best and most suitable home for them.

  • Why are properties listed with multiple agencies in Bali?

Unlike other places in the world, in Bali (and the rest of Indonesia) it is very common for homeowners to have a something called an Open Listing Agreement with many agencies.

What this means is that whoever brings more potential buyers and does it faster will most likely sell first. There are two points of views here; one believes that with open listings there are more opportunities for a property or plot of land to sell faster. The other believes open listings are not efficient because agents are not committed to selling a home in a defined time-frame and actually have no incentive to perform.

With Exclusive Listing Agreements however, the agent and agency have more of a vested interest to service the vendor and buyer more intimately and, therefore, transact faster.

Please fee free to let me know what you think about my take on the property market in Bali and if you want to discuss anything related to property with me email:

 First published on Gapura Bali

Seven Stones Indonesia is a property company headquartered in Bali, Indonesia, with a mission to help people who are interested in buying and selling residential and commercial real estate.

If you’re thinking about property, ROI, capital gains or lifestyle investments in Bali, Jakarta, Surabaya, and Indonesian’s Eastern Islands and need some friendly advice and guidance then why not email or check out Seven Stones Website | Seven Stones Linkedin | Seven Stones Facebook

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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.