Is Bali’s Real Estate Market In Trouble?
Since COVID-related closures and social distancing took effect in Bali, life as we used to know it has been put on pause within the Island of Gods. One of the hottest real estate markets within Asia may have investors speculated on the impact the health crisis would have on the market.
While it’s impossible to predict how Bali’s real estate market will face this storm, there is a good amount of signs showing that any COVID-19 impacts are expected to be temporary.
In the first quarter of 2020, Bali started the year like no other with a strong demand on the market which outweighed the supply. Going through the pandemic crisis, Bali Home Immo has adjusted itself to a new normal to answer its client’s needs. While the office is deeply sanitized every day, the team mandatorily wear masks at any time, avoid touching and keep social distancing. When touring a villa, Real Estate Agents & their clients must wear masks and must avoid as much as possible to touch home facilities.
Bali Home Immo has worked methodically and implemented new ways to visit villas while clients sit at home thanks to its creativity and its video shooting service or its 360 Virtual visits.
Despite softening sales activity since the outbreak, those who have listed their homes on the market are well aware of the sales prices and thus have lowered their sale or rental prices, while many others decided to turn to monthly rental. For investors, this represents a great opportunity to invest and ensure a great ROI later, while expatriates are securing deals they may not be able to find pre-pandemic.
Bali is a top post-pandemic destination. As analyzed by the Dutch online ticketing company Booking.com , Bali has ranked second on the wish-list of its app, listed by people in quarantine around the world in March and April.
Bali remains a unique destination, people, whether they are travelers, entrepreneurs, or investors, know about this sense of authenticity that surrounds the island and its spirit will never fade. The variety of activities and the lifestyle one can enjoy on the island is unmatched and the fame the island has has been supported by countless websites, review portals and travel magazines for very good reasons, and pandemic or not, this will never be taken away.