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Why is Bali a good real estate market?
The exponential growth of the Bali real estate market
Since the reopening of Bali’s borders in February 2022, the island has experienced a steady increase in the number of foreign tourists. This is a welcome relief for the island after a long period of pandemic-related travel restrictions. In fact, the number of tourists in July 2022 was similar to the levels seen in 2012 and 2013 when Bali’s tourism industry began to flourish, with numbers surpassing the entire year’s figure for 2021, with a staggering 10,000% growth. This growth is expected to continue, driving demand for real estate in Bali. Currently, the villa market in Bali is experiencing high demand, and prices are rising accordingly. With the increasing interest in Bali as a tourist destination, it’s likely that the real estate market will continue to grow and become increasingly competitive.
Despite the surge in international arrivals in Bali, the occupancy rate of 4-5 starred hotels has remained disappointingly low. Between January and July 2022, the average occupancy rate was only 25-27%, whereas villas have seen a significant increase in demand. In March 2022, the 50th percentile of villas in Bali had a 60% occupancy rate, which rose to 91% by August of the same year. Bali villas have also seen a steady growth in revenue, with the 50th percentile generating 20.9 million IDR in monthly revenue in March, increasing to 110 million IDR in August. Meanwhile, the 75th percentile of Bali villas generated around 53 million IDR a month in March and reached 179 million IDR in August.
These trends suggest that the preference for villa rentals is growing among international travelers, particularly in the post-pandemic era, where privacy and social distancing are increasingly important. Bali villas are becoming more popular due to their flexibility and ability to cater to different types of travelers, including solo digital nomads and large groups. As the demand for Bali villas continues to rise, revenue growth and occupancy rates are expected to increase even further.
Ekta Real Estate App
With Bali’s potential growth in mind, Ekta Real Estate has established the island as its home base. Thanks to its breakthrough real estate launching in May 2023, Ekta Real Estate is transforming the real estate industry to make it faster, easier, and more accessible for everyone. This decentralized platform provides real estate developers, buyers, and affiliates with a seamless and efficient way to conduct business with lower fees. Through the use of blockchain technology, Ekta Real Estate removes banks, brokers, interest rates, and many of the fees typically associated with the traditional real estate market.
Democratizing Real Estate
Just as digital stock trading apps have empowered everyday people to participate in the stock market, the Ekta Real Estate app empowers individuals to participate in the real estate market on a global scale. By leveraging this innovative platform, users can easily and securely buy, sell, or rent properties with just a few clicks. To learn more about how Ekta Real Estate is changing the game in the real estate industry, visit their website at ektarealestate.app.