The Nusa Penida Island in Bali, Indonesia is the place you want to invest in if you want to get extreme profits and get your investment back in no time. It is one of the most popular destinations nowadays, and it is developing more and more by the day.
No matter if you want to start your own business there, open a hotel, or just have an apartment that you want to rent, then this piece of paradise is the place you want to start with. If you are interested in buying Nusa Penida real estate, you should check out several things that all foreign investors should know.
1. You have to make a minimal investment
The first thing that you need to know as a foreigner that wants to invest in Nusa Penida is that there is a minimal investment that you need to make. We are used that we can choose a property depending on our budget and that we don’t have any limits, however, there are always rules when purchasing land in other countries.
If you choose to buy an apartment, then the minimal investment that you need to make is around 300 thousand dollars. Keep in mind that this is a rough number and that depending on the exact location, the sum can be lower or higher.
On the same note, if you want to get yourself a house, then you need to be ready to invest about 600 thousand United States dollars. Before settling up on a budget, make sure you learn as much as you can about the neighborhood you want to invest in, and talk with professionals that are going to tell you the current laws. The laws are changing daily and as a foreigner, you cannot rely on information that might change by the hour.
2. You cannot make a purchase without a permit
Another important part that you need to be aware of is your permits as a foreigner in the country. Keep in mind that if you don’t have a visa or a permit to enter and stay in the country, you are not going to be allowed to purchase land there.
There are several options that you have, and the first one is a work visa or permit. If you already have it, you can invest in land. If you don’t want to be employed in the country, then you may be interested in investing in a business. By becoming an investor or opening a new business, you will be allowed to get yourself a house or an apartment.
3. You should seek help from experts
Being a foreigner and investing in a completely new country for you, where you don’t know the rules, regulations, and market can be extremely challenging. If you choose to do it on your own, chances are, you are going to spend much more money, you are going to make a lot of mistakes, and you are going to waste a lot of time.
Instead of risking your time and cash, you should use buying guides from places such as PenidaLand and you should collaborate with professionals that can help you out a lot.
Look for a reliable agent that has experience with this process, and have them help you out with the rules, taxes, costs, and finding the right place depending on your plans and needs.
4. You need to invest in developing areas
The biggest mistake you can make is investing in a property that is currently trendy and that is far more expensive than other areas. There are many neighborhoods in Nusa Penida that are popular right now, however, that does not mean that the emerging locations are not going to be desirable a few years from now.
Experts suggest that it is far better to put your money into an area that is in the making and that is emerging right now than to waste additional tens of thousands just to purchase a house that’s already located in an area that might not be desirable in the future.
5. You can minimize your costs
One of the most important things you need to know is that you can minimize your costs. As we previously mentioned, there is a minimum investment that you have to make, but that does not mean that you have to spend double the sum to find a great property and start your agency or your vacation life there.
Off-plan properties are a far better option when it comes to costs than anything else, and with this, you will not have to worry about maintenance and other hidden costs. You can choose to invest in them if you want to get the process done faster, plus you will spend far less than if you get a home that is 50 percent completed, or a fixer-upper.
6. Consider why you are getting the property
You need to be aware of why you want to make this investment. Some individuals choose to buy a new house just so they have a place to go on vacation and relax, and they don’t want to use that property to make any profits. On the other hand, most foreigners who choose to invest in Nusa Penida have bigger plans, and they want to create a home that can be sublet in the future, and they can turn it into a hotel, or Airbnb type of apartment.
Think about your desires and what you want to achieve with them, and depending on that, look for the right neighborhood and exact location. Some areas are going to be far better to rent, while others are better suited for families that want to use the place only for themselves.
When you talk to the release agent, tell them your desires, go through the rental market with them, and see what they advise you depending on your plans.
These are some of the things that you need to know as a foreigner if you want to invest in Nusa Penida, and you should use this guide to have a general idea of the most important points. The process does not have to be long or excruciating, and it is far better to do it with a help of a professional than waste time and money on your own.