It can be difficult to know where to start your search, or even if it’s possible to find something within your budget that you can purchase legally and safely. However, Harcourts Purba Bali has a few tips that can help you get started on your hunt for the perfect and cheap house for sale in Bali. Read on for more information!
The average price for a house under construction is around USD 95 000. Such a housing option is called off-plan and allows you to buy a cheap house for sale in Bali at the concept stage – when the architect has already created the plans and 3D renders. An off-plan house can come with land selected by the developer or can be location independent so you can choose where to build it.
There are plenty of houses for sale in Bali for any budget. A fully furnished house for sale will vary in price depending on the location and the class of the house – luxury villas with infinity pools can cost something between USD 500 000 and USD 20 000 000, while a simple house in a residential neighborhood will cost on average about USD 200 000.
According to Indonesian legislation, foreigners are allowed to buy houses in Bali. However, the ownership is very different from what you may be used to in Western countries. In Bali, you are purchasing the right to use or lease the house for a certain period, ex., 25 or 75 years.
A foreigner can legally buy a house in Bali as an individual (leasehold) or under a foreign-owned company PMA (freehold). While both options are absolutely fine, the latter is safer, yet also requires larger investments.
While foreigners can use a local nominee to buy a house in Bali cheaper, it is completely unsafe and illegal nowadays.
The real estate market research shows the median home sales price in Miami, US is USD 535 000 and over USD 1 000 000 in Sydney, Australia. Compared to the biggest real estate markets, housing in Bali is cheap.
Housing prices in Bali are very contrasting and depend heavily on the location and the house itself. As soon as the location becomes more or less popular among tourists or remote workers, the price rises dramatically – it happened to Canggu, Kuta, Bukit, and some other places in Bali. The housing prices here go from USD 250 000 – 300 000 for a one-bedroom house now to over a few million.
Smaller islands, like Nusa Lembongan or Gili Islands, or the further west, east, and north regions of Bali are as beautiful, yet remain cheaper in terms of property – under USD 200 000 for a simple house.
No matter what the location is, beachfront luxury houses with splendid gardens and infinity pools are expensive and will cost from USD 500 000.
To find a cheap house for sale in Bali you need to hire a good property agent that will hunt and negotiate the best price for you, and choose your options wisely.
Alternatively, you can invest in land and build a simple house according to your own standards and requirements.
Marketplace can give you an idea of average house prices in different areas and you can make a shortlist of areas and properties you like. You can even practice your negotiation skills here.
Having such data backup will help you negotiate the asking price and find cheaper houses or land directly from landowners or trustworthy agents.
However, we do not recommend buying a house in Bali without a legal team and professional sales team. Doing everything yourself may seem independent but it can come with a price, and often this price is the safety of your deal.
As simple as it may sound, speaking Indonesian will often open unseen possibilities for foreigners and better prices. On the other hand, it is understandable that you may not need the Indonesian language living abroad if you’re buying a house in Bali as an investment, and you simply don’t have time for learning.
It is very common to hear stories from individual buyers who tried to negotiate the price by themselves or through a friend, and found out that the asking price was different from what was advertised just because they were foreigners.
In such a case, you can hire a property agency and avoid double standards or misunderstandings. At Harcourts Bali, we created a multicultural international team that can both understand a western background and requirements, and master negotiation and communication skills in another language.
From a developing point of view, it is reasonable to acquire assets at the very early stage, when the price is the lowest. With houses for sale in Bali, it is easier to find a cheaper option if you don’t mind waiting until the building is finished.
The same applies to the situation when you’re buying a small piece of land, 200-300 sq m, and building your own house. In both cases, your expenses may not exceed USD 150 000!
At Harcourts Bali, we are going the extra mile to preselect options for all buyers and budgets, and we are working with promising and reliable developers, who have a successful track record of building houses in Bali. We are ready to offer off-plan houses and villas in the construction stage starting from USD 85 000-115 000 even in popular areas.
If you’re dreaming of having a beachfront villa, but after reading a couple of articles and browsing listings, feel discouraged, don’t be! In fact, with any budget you can live right on the ocean doorstep, the difference is only how far from the tourist and nightlife hub you’re comfortable being.
If your priorities are social life, coworking spaces, and eating out, and you have a limited budget, you will have to sacrifice a little bit of luxury or distance from big supermarkets and restaurants. Your choice can be an off-plan 1 bedroom house, an apartment, or simply a long-term rent.
If you are looking for a remote peaceful spot, for the same budget you will easily find a more spacious house and still have access to a few simple cafes and the beach – we are talking about buying a house in Tabanan, West or East coasts of Bali. While it takes around 20-40 minutes to get from Tabanan to Batu Bolong buzz, the pricing will be cheaper.
It seems like finding a cheap house in Bali is a tedious and stressful job. It can be challenging for those who just arrived and have to immediately dive into Balinese real estate. It is also quite hard to integrate land and house hunting into your schedule if you are working or having a family, and also simply because driving around to get to the meetings is hot and traffic can be crazy sometimes.
On average it takes individual buyers around one year of trial and error to understand the legal aspects of property ownership, tax nuances, and the real estate market in Bali before they can successfully buy a house. Choosing such a path some foreigners are lucky to have their own piece of paradise, but some end up either overpaying or getting an illegal land or house.
You should not stress yourself so much trying to quickly become a professional property agent, the risk is not worth it. Hiring a local agent who has extensive knowledge of the local market, language, and a solid sales record helps you protect your money and legal status in Indonesia, and save time.
At Harcourts Bali, we have been selling and buying houses in Indonesia for the last 20 years and are proud to be awarded for our successes. Our mission is to help you find an affordable house in Bali meeting all your needs.
To invest in freehold Bali property, you will have to set up a company that will allow you to apply for a special 1 or 2-year investor visa. This visa is not equal to citizenship yet has a lot of advantages, one of them is being free to travel in and out of Indonesia. You can renew it and after that, apply for a permanent residence.
It is worth mentioning that visa regulations in Bali are changing quite often and it is highly recommended to talk to a trustworthy visa agent before coming to Bali or choosing the best visa option for you.
Every 10 minutes, somebody buys a property with Harcourts.
We are among the world’s most respected real estate brands, with 900 offices across 9 countries. Our network of sellers, buyers and investors reaches far beyond the shores of Bali.
Trust the experts at Harcourts Purba Bali. If you are thinking of buying property in Bali, or if you have been trying to sell your villa, ask us what we can do for you!
These listings are hand-selected by us because they are extraordinary properties that are priced to sell. Some are exclusive Harcourts listings reserved for us and our clientele, while others were chosen because they are exquisitely designed or located in the most enviable locations.
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