Condotel Trend in Bali : Promising Property Investment
Condotel trend in Bali become so popular, mainly because the property products offered in Bali are quite diverse. Ranging from residential properties, landed houses, and apartments to hotels and resorts. One of the property products that is currently experiencing a trend in Bali is condotel. Maybe for some of you property investors, Condotel still sounds quite foreign to the ears.
Condotel comes from two combinations of words, namely condominium, and the word hotel. Two important aspects of a condotel are the buildings that resemble apartments and are managed by hotel management.
Condotel Trend in Bali, Promising Property Investment
This popularity is starting to become a trend in Indonesia, especially in Bali. This is due to the fact that Bali is one of the most popular tourist destinations both nationally and internationally. This fact is related to the high rate of hotel rentals in Bali. In addition, judging by the upward trend in condotel prices in Bali, which always rises, this property product has become a favorite property product for investors.
What Causes This Trend?
High Occupancy Rate
Balinese tourists are indeed consumers of the rental market for classy properties. Thus, the very large market in Bali has become one of the sources of income for condotel investors in Bali. Moreover, with the increase in rental rates that continue to grow every year, it promises to be profitable for the apartment rental business with hotel management that continues to grow.
Condotel Prices That Keep Growing
The high demand for condotel property products and the limited supply has caused this property product to become a bone of contention for investors. The highest rate of increase in condotel in Bali reached 25.3 percent with an average of 12.4% over the last three years. Interestingly, the level of condotel sales is also very high, which is in the range of 90 percent.
This very high demand is one of the triggers for the trend of condotel investment in Bali. This is not surprising considering the high Return on Investment (ROI) offered by this Condotel investment. Moreover, condotel prices that continue to grow have made various investors try to get these property products ASAP. The very rapid increase in condotel prices goes hand in hand with the increase in land prices in the province of Bali, which ranges from 30 percent to 35 percent annually.
Condotel enthusiasts come from within and outside the country
Most of the condotels are concentrated in the main tourist destinations in Bali, such as Kuta and Seminyak. However, several new projects are also planned to be built in the southern part of Bali, such as Ungasan, Nusa Dua, Tanjung Benoa, and Pecatu. These areas offer long beaches and beautiful views from the top of the cliffs.
Bali’s growing popularity
Bali’s popularity, of course, has an impact on the level of visits that continue to grow every year. The number of tourists who come to Bali has become a very large market for condotel rentals. Profits generated from the investment of Condotel in Bali will also increase along with the high number of tourist visits to Bali.