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How will new visa law effect Bali Real Estate Prices
Bali Sun Newspaper Reprint, Sept 17, 2003
It was two years ago this evening while dining at Koki’s restaurant that we watched in horror live television displaying first one, and then two jets smashing into the world trade center. Life has certainly changed since then. At the time, everyone was predicting a severe downturn in tourism and thus a drastic drop in real estate prices. We offered a more optimistic view and stated here in this column “within 12 to 24 months Bali will be enjoying
record tourism numbers and those that invest here now will earn extraordinary profits. “within 12 to 24 months Bali will be enjoying record tourism numbers and those that invest here now will earn extraordinary profits. We were a little off on our first prediction and dead on the second. By July of 2003, hotels were back to almost normal and many villa complexes were sold out for three months. Then the Bali bombing followed by the Iraq war
and SARS took a devastating toll on Bali’s tourism business. Once again, we predicted it would not be as bad as everyone thinks and low and behold, tourist arrivals for July 2003 were only down 10 % from last year. Many luxury villa complexes as of last week who have been around for a few years were averaging 70 % occupancy. "luxury villa complexes were averaging 70 % occupancy". Our prediction that investors would continue to do well even after 9/11 was right on
the money with many earning 30% to 50 % in two years on purchases such a Bali beachfront land. The latest worries circling the expat and tourism community are predictions of “gloom and doom” when the new “visa on arrival” policy goes into effect, perhaps as early as three weeks from now. 
The doomsayers are now predicting that expatriates who have been living here on sixty-day tourist visas will leave in hoards. This may cause a drastic drop in home demand and services that fill their needs. We totally disagree with this gloomy predication. The first thing expatriates will be thinking is “can I stay here on another visa”? The answer is yes. They simply have to apply for a Social or business visa. "They simply have to apply for a Social or business visa". The social visa will probably be the best choice as it allows individuals to stay for up to six
months without leaving the country. This type of visa will actually be less expensive than sixty-day tourist visas, which require costly runs out of the country for renewal at and average of $300 to $400 every sixty days. Some may decide to pack it in and return to the very expensive living costs at home. Many will return after they realize what they miss in Bali. There may be a very short term over supply of moderate to low priced home rentals because of them throwing in the towel. We would like to offer our free web site listing service to expatriates and owners of properties that will become vacant because of the new visa law. One simple phone call to 284069 and our professional staff will list your home rental free. Owners of many villas and home rentals may decide to drop their rates in the near term According to recent research by our sales department, owners of homes and villas are willing to discount rentals an average of 30 %. An example is a five bedroom 5 bath new home in Renon that is renting for 53 %
less in price than before the bombing. If you every wanted to rent a bigger, or better home, or villa now is the time. "If you every wanted to rent a bigger, or better home, or villa now is the time". We have assembled an extensive list of rental properties with huge discounts. If you would like to see, this list and the properties contact us. For more information, or to contribute to our weekly articles. Call
284069 or 08123814014. To view over 1,000 properties complete with prices and photos click on http://www.balirealestateagents.com/I
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