No surprise here, you got to have really deep pockets to buy land in Bali

So you want to buy land in Bali? Better reach for your platinum card. Land prices in the city center are quoted at Rp 10-30 million per square meter, according to VIVAnews. 

Reports that land prices are rising assert that the consequence is thinning building opportunities. Opportunities especially are decreasing in hotel construction, according to Daniel Miller, the head of real estate investment company Jones Lang LaSalle in Bali. 

Miller says potential for new hotels to enter the market is really limited because there are already so many hotels in Bali and the price of land is so expensive. But like there’s not enough hotels here already? Guess it’s a problem if you’re a land developer. 

According to Miller, the average land price is Rp 10 million per square meter, but if you want something right off the beach be prepared to pay Rp 30 million. 

The resulting sucky thing is that these prices will send developers outside of Kuta and Badung. Investors will push further east, like to Tabanan where land runs for just Rp 2-3 million per square meter. 

It’s already pretty clear that south Bali has been increasingly sprawling over the years, but we hope this island doesn’t get totally overrun with hotels outside of Kuta and Badung. 

Has Bali reached some sort of tipping point? These dramatic men in suits seem to think so. 

Photo: Shura/Flickr

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