In 2022, Bali issued 70,000 foreign residency visas – the tropical island’s popularity as a long- term stay destination is increasing amongst ex-pats, having a positive effect on the island’s rental & investment property market.
Padang Padang Beach, Bali – Ex-pats are choosing sand & sun over dense Asian cities.
Bali, the tropical paradise known for its stunning, lush greenery and relaxed lifestyle, has seen a surge in popularity as a long-term destination for foreigners. In 2022 alone, over 70,000 foreign residency visas were granted, and the Indonesian government is helping to increase those numbers.
“As more people are choosing to live in Bali, the demand for rental & residential properties continues to increase,” says Adrian Savage President Director of Mirah Investment & Development, one of Bali’s leading development companies. “There has never been a better time to buy a villa in Bali & invest in the island lifestyle.”
The biggest draw for those looking to move to Bali is without a doubt the lifestyle. Laid back, tropical and a low cost of living makes it a highly sought-after destination. There’s rich culture, untouched jungles to explore, and the proximity of most areas to the coast makes it perfect for an array of water sports.
The government is also making efforts to improve the infrastructure and ease of doing business in Bali with high-speed internet and upgrades to roads as examples. Another draw is the growing
community of expatriates and digital nomads. This has seen an increase in co-working spaces and cafes, perfect for productivity or making friends with like-minded people.
Bali was named the winner of the Most Popular Destination in the 2023 TripAdvisor Travelers’ Choice Award for Asia, and second worldwide, beating out London, Rome, Paris, and Bangkok.
Nila Residence – Luxury Residential villas part of a gated complex in Bali
Get the Most out of the Island
Though most people will be hard-pressed to find an area of Bali that isn’t brimming with beauty and community, there are a few areas that have seen a huge amount of interest from the ex-pat community recently.
Berawa in Canggu is an almost autonomous ex-pat community, with incredible dining experiences, world-class surfing spots and vibrant nightlife. Demand for property in Canggu sees a consistently high rental return, making it a fantastic place to buy a villa in Bali.
Uluwatu located in the south of the island is famous for its stunning natural beauty and picturesque beaches and cliffs. It offers a more laid-back lifestyle than some of the busier areas in Bali, however, there are still many luxury resorts and restaurants on offer.
Lombok is an up-and-coming island to the east of the mainland. It boasts a beautiful jungle national park and some of the most beautiful beaches in the world. Lombok is less crowded than the main island; however, it does have many restaurants and wonderful nightlife on its very own Kuta Beach. Lombok is expected to see significant growth in the coming years, making it a prime investment location.
Kuara – offering passive investment properties as part of a boutique resort in Lombok.
Bali Visas – Staying Longer than 30 Days
With over 70,000 foreign resident visas issued in 2022, it’s clear that Bali continues to grow in popularity as a destination for long-term residency. Recently, the government has also shown support for this by announcing the brand-new new Second Home visa, encouraging high-value investment into the island, which in turn helps to stimulate the property market.
With a growing demand for rental and residential properties and a supportive government, Bali offers a unique lifestyle and culture that is becoming increasingly accessible as a long-term destination. By working with a reputable company like Mirah Investment and Development, foreigners are able to gain access to a lucrative investment property market and enjoy the benefits of an island lifestyle.
About Mirah Investment & Development
Mirah Investment & Development is Bali’s leading property developer. Established as the market leader with years of experience in bringing the top developments to the best locations across the Indonesian archipelago. Their extensive in-house legal team offers end-to- end services for all clients including legal, taxation, and immigration services & guidance.
Mirah Investment & Development