Bali real estate agents and property agencies
Bali estate agents target wealthy foreign expats
Bali has such a booming property market it is no surprise to find numerous real estate offices in all major resorts. The vast majority are found in the south of the island at Kuta and Seminyak, increasingly popular Jimbaran, Sanur and Nusa Dua. There is also a competitive market in Ubud and more recently, in east and west Bali at the up and coming property hotspots of Amed and Canggu.
Using an agent is not compulsory but may well save a lot of time and expense in the long run. There are unfortunately some unscrupulous individuals who claim to own land for sale and will back this up with fake land certificates. Seemingly everyone has a ‘brother’ with land or a house for sale and while this may be genuine, it often involves going through a small army of people, all expecting a small commission along the way.
Real estate businesses generally fall into four broad categories. There are international property agents which specialise in high end luxury villa sales aimed at the lucrative expat and retirement market. Others promote a small portfolio of brand new villa and condo developments exclusively on behalf of a resort. Some of these employ heavy handed high pressure sales techniques, similar to timeshare. This is fine if you have your heart set on a particular resort, but don’t expect much impartial advice.
Most property agents can be best described as all encompassing ‘Jacks of all trades’. Services invariably include new and resale homes for sale, freehold land and apartment rentals. Many provide ancillary services like villa management, maintenance and holiday rentals. There are also a handful of specialist commercial agents in Denpasar and Seminyak, dealing exclusively in hospitality businesses for sale or rent.
Professionalism is high for Indonesian standards but there is no official code of conduct for agents, nor are accredited qualifications necessary. Potential buyers should definitely shop around and seek personal recommendations from other expats. In Touch Real Estate (Jalan Raya Seminyal, Seminyak no22, tel: +62 (0)361 730944, info@villabali.com) is a long established firm with knowledgeable staff, although they tend to concentrate on high end luxury properties.
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A more inclusive option is Ray White (Kompleks Istana Kuta Galleria, Kuta, Tel: +62 (0)361 769009, info@rwkuta.com). As the name suggests, this is an expat run firm who are one of the biggest in Indonesia. They have several branches throughout Bali. Typical agency fees on completion of contracts are five per cent of the purchase price which can be paid either by buyer or seller. Other costs that are likely to be incurred are VAT, a ‘luxury sales tax’ for high end properties, legal and registration fees. Many agents can also arrange for an Indonesian partner to counter sign contracts as is required in Indonesian law.
Professional legal advice is a must and probably the single most important stage of the process. Indonesian property law can be extremely confusing and full of pitfalls but thankfully all notaries are strictly regulated. You should still shop around for quotes and feedback from other expats. One notary with a good reputation is Evi Susanti (Dewi Ruci B5, Kuta, Tel: +62 (0)361 757200).
Once you have completed all the formalities and paid your money, it is time to start turning that house into a home. There are lots of international standard services available to the new homeowner from villa management, landscaping, design and construction. For professional architects used to the demands and tastes of foreign clients, try Arte (Jalan Danau Tandono, Denpasar, Tel: +62 (0)36 285958)
The decision to sell up and start a new life in exotic Bali is not to be taken lightly. In every industry there are saints and rogues and Bali real estate is no different. Tread carefully with a cautious approach and always seek first hand advice and recommendations.
