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Villa Lease Rates in Bali Up 5% This Year

02 March 2012

JAKARTA (IFT) – Villa lease rates in Bali are increasing, following the high number of foreign and local tourists that visits Bali each year. In 2012, villa lease rates are projected to climb five percent from 2011. Knight Frank Indonesia and Elite Havens projects that villa lease rates in Bali will rise by five percent from last year. The average lease rate of private villas with one room during low season is US$ 276. During peak season, the rates rises to US$ 368. Lease rates for private villas with two rooms during low season are at an average of US$ 387, and up to US$ 492 during peak season. The average lease rates for private villas with seven rooms are around US$ 1,755, and rising to US$ 2,590 during peak season. Hasan Pamudji, Senior Research Manager of Knight Frank Indonesia, said that the climbing of villa lease rates in Bali is connected to the high demand and high supply of new villas. Almost 45 percent of the total supply of new villas in Bali were constructed in the last five years. This creates tight competition amongst villa managements. The highest average occupancy rate of private villas in 2011 was in Seminyak area, with 74.7 percent. Canggu, Sanur and Ubud areas are also chosen by many tourists for villa lease. “The average occupancy rates in those three areas are 65.5 percent, 58.5 percent and 58.1 percent,” Hasan said. In 2011, as many as 57.14 percent of tourists visited Bali for their vacations. This figure is slightly lower than 68.2 percent in 2010. The remaining tourists came to Bali for business, conference or training. There are several property companies that are developing villa and hotel projects in Bali. PT Bakrieland Development Tbk (ELTY) manages Ubud Nirwana Villas, Nirwana Bali Resort in Tanah Lot and Pullman Bali Legian. PT Metropolitan Land Tbk (MTLA) is building a condotel in Seminyak area. The project consists of 152 units, and scheduled to operate in December 2012. PT Agung Podomoro Land Tbk (APLN) is also developing a hotel in Nusa Dua area. The company is partnering with JW Marriot as the operator. (*)