TEMPO.CO, Jakarta - Alex Villas Group, a Bali-based real estate company said the property sector in Bali looks promising in 2024. Alex Shtefan, the founder and owner of Alex Villas believes that the island is currently experiencing a significant shift in its business landscape.

“Tourist-attracting areas no longer contained to renowned places like Kuta, Ubud, Sanur, Seminyak, Canggu, and Uluwatu anymore. Tourists are now starting to be drawn to western Bali, including Seseh, Kedungu, Cemagi, and Tabanan,” Alex said in a written statement on Friday, March 1, 2024.

Alex explained that this expansion provides new opportunities for the property sector as well as giving more options for tourists to explore the rare faces of Bali. This positive trend, Alex explained, is not only induced by new tourist attractions but also by government policies and infrastructure developmental planning.

According to Alex, the government has applied several significant property policies in Bali, including the most recent one; the Golden Visa, and the right to build given to investors.

The Indonesian government, Alex went on, also committed to strengthening the Bali infrastructure by planning to develop the Gilimanuk-Mengwi toll road and underground LRT connecting the I Gusti Ngurah Rai Airport to various tourist destinations.

Alex claimed that more than 500 developers were registered in Bali throughout 2023. Property investment in Bali is usually profitable after 5 to 7 years for properties starting at US$200,000 and up, according to the owner of Alex Villas.

“After, investors generally enjoy 15 to 20 percent profit per year, but will lessen significantly if they wrongly choose a developer,” he concluded.

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