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Bali Real Estate Out of Control?

Real Estate Website Sketches the Unhappy Current State of Bali Real Estate.

Bali News:
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(2/23/2009) sounded warnings on the unregulated and unmonitored nature of Bali 's current real estate boom.

Describing Bali as something of a confused landscape peppered with signs offering "absolute beachfront villas" and "eco-friendly hotels," the article correctly points out that "no central resources of real estate information" exist with many developments carried out in "partial secrecy."

The Problem of Autonomy

Quoting the Head of the Bali Tourism Authority, I Gde Nurjaya, from comments made to The Jakarta Post, "our governmental system makes it impossible to collect data on the development, because the regencies are ruled autonomously."

The lack of centralized information also means that Bali's also lacks any coordinated approach to its current building boom, causing questions to be raised on the sustainability of the current rate of development.

While Jakarta Post has identified 15,000 new hotel rooms and "at least" 300 new villas being built on the island over the coming two years, the real number of new rooms coming on line is probably much higher.

Greedy Carelessness

Agung Wardana of the Indonesian Forum for the Environment (WAHLI) complained to The Jakarta Post “the decentralization of Bali's nine regencies has lead to greedy, careless behavior, such as violating laws that have been created to protect the environment."

Will The Last Person to Leave, Please Turn Off the Lights?

The article concludes by saying: "How much longer this pace of development can continue, is a question being asked more and more, by people from all walks of life on Bali. And if the island's attraction dims, it is likely the investors will move on looking for the next tropical island hot spot."

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[Bali Real Estate - Out of Control?]

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