Vol. 8
2008
12 grand residences stunning beachfront location ultimate in luxury & privacy managed by Karma Resorts first development of its kind on the East coast of Bali
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Property
3-4 bedroom properties luxury clifftop living with exclusive beach club grand opening on 15 march 08 fantastic investment return
Property
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Bali known as the Island of the Gods, is not only recognised as one of the most sought after holiday destinations but also for its excellent property investment opportunities!
With only 32 apartments available, comprising Studio, One and Two Bedroom Suites, NOW is the time to reserve one of these Ocean View Apartments. Ownership from USD 180,000.
An exciting and fast becoming “place to be� region is emerging on Balis east coast: PADANG BAI, close to Candi Dasa, and only an hours drive from the international airport. AZURE POINT offers savvy investors a ground floor opportunity to enjoy fantastic returns, together with breath taking beauty and first class facilities at prices hard to find.
For Further Details Contact: John Brun, Managing Director ALFA Property Services Hong Kong: +852 9386 6025 +61 4197 79517 Bali: +62 818 350 515 john@alfa-propertyservices.com www.azurepoint.com
LOCATION Beach Front, Cemagi beach, Canggu – only 25 mins drive from the popular restaurants and shops of Seminyak and approx 45 mins to Airport. Land size: 53 Are
FEATURES Five air-conditioned en suite bedrooms, each with spectacular ocean views. Open living area, separate dining pavilion (seats 10 people), TV room with pool table - satellite TV, DVD and stereo, landline, broadband internet, private swimming pool, Jacuzzi and master bedroom plunge pool/Jacuzzi, massage pavilion, gym equipment, large fully equipped kitchen and shared tennis court. Situated on a spectacular stretch of ocean front property with magnificent unobstructed sunset and ocean views. Tasteful modern architecture blended with harmonious applications of materials to create a true Bali feeling. The pavilion style living area overlooks a large garden incorporating a mini fairway and putting green offering ample space both indoors and out.
Land Size: Half Hectare/5,300m2 Bedrooms: 5, Bathrooms: 6 Title: Freehold Price: On application Exotiq Real Estate, Jalan Oberoi 77x, Tel: +62 361 737-358 www.exotiqrealestate.com seminyakbali@exotiqrealestate.com
Managed by:
Guaranteed ROI in US$
contents
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Volume 8, 2008
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HOT! News
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HOT! Awards
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Market Update
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Hot! Environment
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Featured Development
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Legal
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Contact List
Front Cover Photograph The Layar SUBSCRIPTIONS For enquiries, please email: enquiries@hotpropertybali.com or ADVERTISING +62 818 350 515 sales@hotpropertybali.com Publisher PT. Dua Dewata Bali Registered Office Jl. By Pass Ngurah Rai 2001, Simpang Dewa Ruci, Kuta 80361, Bali - Indonesia Fax: +62 361 703 336 Information & Editorial marie@hotpropertybali.com +62 817 067 0069 www.hotpropertybali.com Magazine Design by Island Communications www.icommbali.com Printed by PT. Mega Indah Offset, Jakarta, Indonesia INTERNATIONAL DISTRIBUTION Dawson Media Direct China Ltd. (dmd China) Indonesia Distribution Java Books
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This issues latest roundup
This summer sees the inaugural HOT! Property Awards where HOT! will provide a platform for agents, developers, villa managers and owners to showcase their top properties as well as the quality, innovation and value for money that Bali still has to offer along with a lifestyle that is still second to none. See how you can submit your nominations.
Our property experts gather once more to discuss Bali Property Investment
A review of the Climate Change Conference
An exciting new project in Seminyak shuns the cookie cutter norm that is prevalent in the area
We update you on current ownership options and taxes
A handy list of suppliers and advertisers featured in this issue
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Hot
features 22
BALI REAL ESTATE: AN INVESTMENT OPTION
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The Best of Both worlds
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An Investment Blueprint
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Typically Tropical In Canggu
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Create The Look
The re-sale sector in Bali is now experiencing a surge in activity fuelled mainly by the lack of land left in the prime tourist areas.
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How To Snag the perfect Villa You’re elated as you finally have the keys. The first night spent in your villa will be important, as it will be the first chance you’ve had to really test drive your new purchase. There’s only one snag…
Maintenance: Get Smart & Protect your Investment A planned maintenance regime means that you inspect your property regularly and keep small amounts of money going into it.
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The Investment Location Guide Up until the beginning of this century, buying property in Bali was widely perceived as a trial of stubborn determination and foolhardiness, due in part to the lack of understanding of local property law and the bureaucratic nightmare.
Rebirth of a Town Whilst not everyone’s cup of tea, Pecatu Indah resort is by far the most interesting amongst the developments on the Bukit due to its sheer size and master plans which are staggering in their concept and ambition.
Building in Bali was the first choice for this Sydney based owner. But the opportunity to own a villa in Bali as well as an apartment in Sydney was too good to miss.
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Ideally situated a few minutes walk from Petitenget Beach Villa Azaya offers the comforts and functionality of a modern luxury home.
The actual number of sprawling, palatial properties truly deserving of the ‘villa’ moniker and available for rent is not all that high but recently completed Puri Bawana definitely deserves a second look.
Cempaka Interiors guide us on how to create the look using Naturals and Jewel colours.
HOT! Property Bali is published quarterly by PT. Dua Dewata, Bali, Indonesia, No. 220817003302, ISSN 1858-0939. We cannot accept responsibility for any unsolicited contributions. No part of this magazine may be reproduced, in whole or part in any manner, stored in a retrieval system or transmitted in any form without permission. The opinions expressed in the magazine may not be that of the publisher and the publisher cannot be held responsible. HOT! expressly advises seeing a legal professional before entering into any contractual agreements.
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Hot Property Ad 1508
21/2/08
10:35 AM
Page 1
UNDER CONSTRUCTION
Villa Resort Opening Early 2009
Jimbaran Bay
• 28 freehold villas available 1, 2 and 3 bedroom with pools • Located in Southeast Asia’s number one 5-star resort tourist destination - Jimbaran Bay • Impeccably custom designed with quality European fixtures and natural finishes – fully furnished • First class property management by BHM Villas • Facilities include, beach club, health spa, restaurant and business centre
...villas by the sea
Marketing Agents
Jakarta: +62 21 570 7170
Bali: +62 361 738 747
VISIT OUR SHOW VILLA ON SITE!
For inspection call +62 361 747 3030 Email: sales@livbali.com Website: www.livbali.com
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welcome... ...to this Spring 2008 issue of HOT! Property Magazine, the publication that givesyou all the information necessary to make an informed decision when considering property purchase in Bali. Ok, enough of the sales pitch: First of all we would like to invite all our readers, contributors and advertisers to nominate their favourite villas/projects in Bali, for what will be the inaugural and sure to be most prestigious Real Estate Event in Bali. The HOT! Awards submission process is detailed on page 26 and we will certainly appreciate your input. There has been a lot of discussion recently regarding the issue of “investment” when it comes to property in Bali, so we have taken a cold hard look at various locations and got some interesting feedback from some of the main players, see ‘The Investment Guide to Locations’.
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As an aside, I would like to apologise to LUNA 2 villa owners, featured in issue 7, where we neglected to include a credit on page 114 to accompany their images: Sorry. Enjoy, and don’t forget to give us your feedback: enquiries@hotpropertybali.com ED
NEWS
only 200 metres from the beach and are offered freehold. Facilities will include restaurant, spa, gym and a 25 metre central pool. Don’t miss the special pre launch prices for the first few lucky investors. Email: andy@avillabali.com
OPENINGS… LAUNCHES… GROUND BREAKING ACTIVITY… EARLY BIRD OFFERS… AND GOLF? Paradise Property introduced a fresh concept in January with the soft opening of their new office in Sanur. Their plan includes a coffee shop, health juice bar and a lifestyle boutique to be completed this quarter. The new office offers its clients the convenience of a full array of property services and is located at Jl. Danau Tamblingan 65 A, Sanur. Email: fitri@ppbali.com
sufficient ecological housing development located near Gianyar, 45 mins from the airport. The homes will be built on land not fit for agricultural use with their objective, to be fully sustainable within 3 years of opening. The project will consist of 69 units and 5 villas. Generous sizes start from 1500 sqm to 2000 sqm. Email: Chrisforbes@asia-estate-investment.com
Another grand opening are the new
Also in Seminyak, Avilla, the developers
offices of Asian Estates & Investments (AEI) in Seminyak’s Oberoi St. who are also the exclusive Sales & Marketing partner for the Banda Eco Residence - Bali’s first earth sheltered, self-
behind the hugely successful Le Jardin Villas have announced the launch of their next development. Designed by world renowned GFab Architects, the 20 private luxury villas which make up La Vie are
Freehold villas for sale
On the Bukit, March 15th saw the eagerly awaited grand opening of Karma Kandara, Karma Royal Group’s second operational resort in Bali, following the phenomenal success of Karma Jimbaran. Boasting 20 completed 3 and 4-bedroom residences in phases I & II, the resort opened with full hotel amenities including the cliff-side di Mare restaurant, Temple Bar terrace, Beach Club, and inclined elevator to an exclusive beach. Email: info@karmadevelopments.com Staying in the Bukit, Ramachandra is a
new project in Balangan offering forty 2, 3 and 4 bedroom villas designed by renowned Balinese architect Popo Danes. Each villa is carefully positioned in order to enjoy unobstructed ocean views. Facilities include: club house, restaurant, tennis court and spa.
call:0361 788 9000 www.balivillabella.com
JIMBARAN Starting at 188,000 EURO
SEMINYAK 2 BEDROOM Fully furnished, 400m2 Starting at 209,000 EURO
20 VILLAS FOR SALE
NUSA DUA Starting at 123,000 EURO 45 VILLAS FOR SALE
5 VILLAS FOR SALE
LUXURY VILLAS & LAND IN BALI’S MOST EXCLUSIVE LOCATION: JIMBARAN, NUSA DUA AND SEMINYAK Individual Land Certificate
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Freehold Villas
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8 years ROI
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Financing Available For Foreigners
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Codeveloped and Managed by Aston International
Choose freehold or leasehold options but hurry, as free golf membership to the new Kuta Golf Course are only being offered to the first 12 buyers. Email: info@ramachandrabali.com
2,378 sqft penthouses. Neighbouring Bvlgari, Alila and Banyan tree assure that this project is well placed for investment and lifestyle users. Prices from US$ 230,000. Email: rmccandless@mc2property.com
Along the east coast and certainly befitting
its name is the launch of Azure Point, a luxury boutique property on the cliffs close to Padang Bai. With uninterrupted views over sparkling blue seas, the resort offers 32, studio, one and two bedroom units with 3 layout choices of suite/ apartments available. With prices starting at just USD 180,000, this is a great opportunity to invest in a “soon to boom� area of Bali. Email: john@alfa-propertyservices.com
In the same area, ground breaking activity is now going on as construction on
the new Outrigger Panorama Bali Resort and Spa gets underway. The US$ 45 million concept by developers MC2 offers buyers 176 freehold, studio, 1, 2 and 3 bedroom condos including 6 duplex
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Pasraman Bhagawan Resort Location Perched above Jimbaran Bay - above the Four Seasons and Intercontinental Hotel’s with magnificent ocean views. This exclusive 11 villa resort is set to become one of the most prestigious in Bali. Villa Features Fully furnished with quality furniture and fittings. Live in – Rent out – or both. Spend as much time as you wish resident and have it managed when you’re not. Two styles of four & six bedroom villa, either Balinese or Japanese style. Each villa comes with - 5 Full-time staff (Driver, Cook, Maid, Gardener, Maintenance staff). - Two cars and access to Bentley and BMW Resort Facilities - Country Club & Spa - Restaurant - Tennis Court - Helipad and access to resort helicopter - VIP airport visa process - Intercontinental Club Lounge Membership Only 8 villas remaining Land size: From 1,500sqm – 2,000sqm
Paradise Property Jl Laksmana #54, Kerobokan, Seminyak, Bali 80361, Indonesia +62 361 737357 info@ppbali.com
BALI REAL ESTATE: AN INVESTMENT OPTION By Chris Forbes – Asian Estates & Investments
Overall the re-sale sector in Bali is now experiencing a surge in activity fuelled mainly by the lack of land left in the prime tourist areas of Seminyak and Kuta. The Bali market is also now at a stage where customers and investors alike, feel confident about their purchase. There is always that period of uncertainty in any; let’s call them emerging markets, but the return to normality following the incidents in the past has resulted in Bali becoming a stronger more vibrant tourist and investment market. The demand for quality properties has increased to a point where investment purchase is slowly becoming a lifestyle purchase; where customers are looking to satisfy their own needs rather than an investment requirement, it’s still there but not as high on the priority list as is it once was. The demand for properties in the popular areas of Seminyak and Kuta will create significant growth in the resale market as there is a vast amount of older properties ideal for improvement which are also much cheaper to buy than a new villa, a word of caution though, a great many of these properties are leasehold so check the legal situation about lease renewal before you purchase. Asian Estates & Investments have established a sales, marketing and investment portfolio of high quality properties and investment opportunities throughout Asia and emerging markets focusing initially on Bali, Singapore, Malaysia, Vietnam, Cambodia, Thailand, India, Turkey and the
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Middle East. This will be achieved, but certainly not limited, to investments in projects, developing and marketing our own projects as well as land banking opportunities. According to a recent Deloitte report, Property prices in Bali have seen a consistent 25% growth for the past 5 years and factors that have driven these results not only continue but are indeed
“ Property prices in Bali have seen a consistent 25% growth for the past 5 years.” strengthening. When you consider the likes of Vietnam where tourism is already exploding with 7.6 million recorded tourists last year it shows how much the Asian market has grown over the last 2 years. Going global is becoming the mainstream in the real estates investment market, as growth in the volume of cross-border transactions is fuelled by a number of phenomena.
Asia is expected to remain the net recipient of real estate capital being targeted at emerging markets, with the likes of India being one of the leading beneficiaries but with more investors seeking suitable investments in small fast growing economies such as Bali, Malaysia, the Philippines and Vietnam. In Europe significant changes in the ownership of commercial properties is taking place with more owner occupied properties transferred to the hands of investors who are much more active in seeking out potential investment opportunities in countries outside the likes of the UK and Sweden, the traditionally most liquid European markets. Remember forces such as a weak US dollar are also having a major effect on the flow of money from Europe into the Asian arena, at the same time a number of less mature Eastern European markets are already experiencing very high levels of interest- albeit that they remain a relatively small part of the European market overall, accounting for less than 5% of investment turnover in any one year. Malaysia is experiencing major development and economic growth, giving rise to an upturn in its tourist, residential and commercial property markets. A solid infrastructure that is being further strengthened by the government’s “Ninth Plan” renders Malaysia a modern and efficient country. Increased air services as well as tax breaks and other incentives are enticing overseas investors to the country. With prices still at an
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