INTRODUCTION
Owning a luxury villa in Bali is a dream for many people around the world.
The last couple of years has enlightened many to the possibility of working or operating their businesses remotely. For part of the year, many are choosing to live in a part of the world where they can enjoy a far better lifestyle.
Bali, for example, offers an enchanting island lifestyle that promotes health and personal well-being – it’s one of the world’s most popular leisure destinations and is full of breathtaking natural sights, trendy restaurants and retail outlets, and offers plenty of opportunities to take new hobbies or explore new passions.
Bali is the second cheapest place in the entire world to buy a pint of beer.
More than just a second or vacation home – buying luxury property abroad is a great way to diversify your investment portfolio with an affordable and a high yielding investment that offers unique perks and benefits.
While not in use, income can be generated through the property’s rental revenue. Additionally, the property’s capital appreciation year-on-year mirrors the island’s rapid growth.
Bali has experienced a 497% increase in International visitors between 2006 & 2019.
This small tropical island is ranked as the 14th city of the entire world for revenue generated by international visitors – beating out Miami, Los Angeles, Barcelona and Sydney. It had generated over US$ 8.8 billion in 2018 alone from international visitors. Additionally, as of November 2021, Bali has over 120,000 expats living permanently on the island.
Voted world’s best destination by TripAdvisor 2021
Canggu voted 4th best place in the world to live and invest in 2019
Voted number one place in the world for digital nomads.
While idyllic in theory, there are countless pitfalls that hopeful homeowners and investors can fall into, usually when dealing with unlicensed agents or developers. As the leading property developer in Bali, Mirah Property Group has an established reputation built over its many years in operation.
Despite the challenges that some may encounter, there are many for whom this dream is a reality. They own an incredible luxurious villa in one of the most beautiful places in the world, which also earns them a steady and passive income while not in use.
This was achieved through determination, hard work, patience; by learning from the many expensive mistakes made along the way and then finally generating income through relentless marketing and costly maintenance.
Others have achieved this in a much simpler, faster, and more secure way – by partnering up with some of Bali’s established property developers.
This recent article from the South China Morning Post which calls Mirah Property Group …one of Bali’s most established developers… aims to make sense of the many investment properties on offer in Bali and some of the companies behind them.
1. UNDERSTANDING LOCAL LAW
As with any investment or large purchase, it is crucial to be confident in the security of the transaction. Real estate and tax laws differ from country to country and what may be allowed in your home country could be a non-starter abroad and vice versa. Understanding the minutiae of property laws and the practices of a foreign country can seem off-putting and anxiety-inducing.
Click here to read our previously published article which takes an overview of the laws surrounding foreign property ownership in Indonesia.
As Bali’s leading property developer, with over 16 years of experience, Mirah Property Group has delivered thousands of units in prime locations to satisfied clients from all over the globe.
Our experience and knowledge gained over the last 16 years have made us uniquely positioned to serve international clients that are interested in purchasing property in Indonesia.
Our clients are able to safely, securely, and legally purchase luxury property from abroad. We take a number of steps to ensure our clients are confident in their purchase and their assets are protected. Our in-house legal and financial team, with their extensive network of trusted notaries and lawyers, ensure that every transaction is made in accordance with Indonesian law and protects the client and their newly acquired asset.
2. FINDING THE RIGHT PROPERTY FOR YOU
White sand beachfront or dramatic clifftop? Sleepy island paradise or trendy cultural hub? Two bedrooms or four? Gym, sauna, home cinema room or all of the above?
Mirah Property Group offers a wide selection of investment properties in the best locations across Indonesia, with flexible management programs to cater to your lifestyle and sensibilities. Most of our properties are entirely managed which means no maintenance or marketing work from owners to find bookings and rental. All income generated through rental revenue is entirely passive.
Unlike other developers, our managed developments operate with an owners’ revenue pool meaning that owners won’t be competing against each other for bookings. They will receive a proportional share of the pooled rental revenue.
This allows all owners to fairly benefit from the development’s marketing, management, maintenance, and allure of its world-class facilities.
Secana Beachtown brings 58 luxury villas and 32 loft-apartments to the most sought after coastline in Indonesia. All units are kitted with the latest smart-home technology and come turnkey. Positioned on the Berawa beachfront in Bali, alongside world-famous beach clubs such as Café Del Mar, Finns VIP Beach Club, and La Brisa, Secana Beachtown has three onsite restaurants, and a rooftop bar & pool, gym club, spa, co-working space and much more.
Learn more about Secana Beachtown – the ultimate lifestyle investment.
Cocana Resorts will be Gili Trawangan’s first 5-star resort with the island’s biggest beach club. It offers entirely managed investment properties located on one of the most popular and beautiful islands of the world, with white sands, swaying palm trees and an abundance of marine life. The resort consists of 60 private pool villas, 64 luxurious lagoon suites, Cocana Beach Club, Cocana Spa, two onsite restaurants and comes with incredible owner benefits and perks.
Learn more about Cocana Resorts – your island home in paradise.
Located on the southern coast of the upcoming island of Lombok, Kuara is a boutique experience-based resort with 32 luxurious residences spread across a beachfront and hilltop site. With a focus on sustainability, Kuara has onsite organic gardens and horse stables. Positioned next to a protected national park, the resort offers a plethora of unique experiences such as quad-biking, jet skiing, surfing, pottery, camping, archery, jungle trekking, farm-to-table fine-dining and much more.
Learn more about Kuara – where nature meets luxury.
Perched atop the majestic Nusa Dua clifftop, and sharing the same stunning ocean views as the neighbouring Ritz-Carlton, Hilton Resort, and the Apurva Kempinski, La Roca offers eight private super-villas which combines all amenities of a 5-star resort into a private residence. Stylistic architecture and bespoke furniture that doubles as art pieces, with an average building size of 1.500 m2, these villas come complete with a private gym, infinity pool, elevator, home cinema room, Jacuzzi, Sauna, games room, staff quarters – the list continues endlessly.
Learn more about La Roca – Bali’s most exclusive clifftop villas.
3. RESEARCH & INSPECTION
When undertaking a new venture, such as buying luxury property abroad, it is important to inspect the finer details to be able to place your full trust and confidence into a project and gain a complete understanding of all affecting variables.
For an investment property to be successful, it’s crucial to research factors such as site & location suitability, regional occupancy levels, local costs for maintenance staff, marketing of competing villas & hotels, growth of land prices, typical nightly room rates, and other micro & macro-economic trends and dynamics.
With the ever-changing travel restrictions and quarantine requirements of recent years, it has been a challenge for many to be able to evaluate a property from the ground and gain a complete understanding at a local level from a foreign country.
Mirah Property Group’s understanding of the local market and the tourism & hospitality sector of Indonesia is unrivalled. The development projects have undergone extensive market research and feasibility studies to ensure success. In fact, with Cocana Resorts we are offering a guaranteed 6% NET returns for the first three years as a show of our confidence in our market research and the success of the properties as investments for our clients.
Click here to schedule a zoom presentation with one of our International Sales Executives and Company Directors to discuss a development of your choice.
To mitigate the inconveniences of being abroad, Mirah Property Group offers prospective clients the chance to have one-to-one zoom calls with an International Sales Executive and a Company Director. During the zoom, all aspects of a project are discussed, including concept & style, facilities, site & location, projected ROIs, capital appreciations, management programs, contracts & certifications, and more.
Clients are able to comb through the finer details and ask any questions or address any reservations that they may have, directly to Mirah Property Group company directors.
La Roca – “Setting new standards for luxury living”
Mirah Property Group’s in-house media production unit produces walkthrough clips using state-of-the-art 3D visualizations or show units to show investors and prospective clients exactly how their property will look and feel. Through the use of drones and GPS technology, we can accurately show the views of a specific unit.
The media production team is on-hand to provide clients with any materials requested, allowing them to understand their preferred unit and share clips with their partner, family, or friends.
Our International Sales Executive are happy to conduct video calls from site locations and be able to show clients many details related to their unit, including the exact walking time and distance from their front door to the beach.
At Mirah Property Group, we place client satisfaction and confidence first. The company is built upon the trust and relationships it shares with over a thousand clients over the last 16 years.
Secana Beachtown – Luxury Villa
4. REVIEWING THE PAPERWORK
Beyond researching the property, it is paramount to have watertight agreements which are reviewed by upstanding real estate lawyers and executed following the local laws of the purchasing country.
Mirah Property Group’s in-house legal consultants and their wide network of established and trusted legal advisors ensure that the company is up-to-date with the latest relevant Indonesian laws and regulations. The consultants can advise clients and answer any questions that they have. Additionally, they can recommend third party independent lawyers and notaries for the client to conduct due diligence, if needed.
At Mirah Property Group, clients are offered a 14-day period where their preferred unit and its current price are held.
During this time all documentation, agreements, and a proposed payment plan are sent over for review and due diligence. Clients are able to reserve the unit for 14 days by paying a 100% refundable nominal booking fee.
This is a no-obligation reservation, which the client can choose to cancel at any time and for any reason during the 14 days. If they choose not to move forward, the booking fee will be refunded in full with no deductions.
5. PURCHASING THE PROPERTY
Once clients are satisfied with their chosen unit and have reviewed all of the agreements and documentation then it’s time to purchase the property!
Two copies of the necessary agreements and documentation are executed by the client and Mirah Property Group. These documents are then notarized by a qualified notary in Indonesia, as per the requirements of the local law. One copy remains with Mirah Property Group, and one copy with the client.
Moving forward, a down payment is made and the remaining balance is paid according to the pre-agreed payment plan. Payment plans are flexible and can be tailored to a client’s needs.
Payment plans at Mirah Property Group occur a 0% interest.
Mirah Property Group accepts payments in many different currencies and international payment methods.
6. CONSTRUCTION
Secana Beachtown – December 2021 Progress
As the leading property developer in Bali, Mirah Property Group’s in-house team of highly experienced designers and architects lay the groundwork for the efficient and timely construction of all projects.
Working with the best and most established contractors and project managers, all of Mirah Property Group’s builds follow western standards and use the highest quality materials available.
Unlike some other developments, all units for a project are built simultaneously. Many of our development projects are nearing completion with others starting to break ground in the coming weeks.
Our media production unit produces monthly construction update videos and images to allow all clients to see the progress first-hand.
Once construction is complete the property will be fitted with high-quality modern appliances and fittings. All units are turnkey which means they come fully furnished with all plumbing and electricity and electronics including TVs.
All units at Secana Beachtown are smart-home ready, which means that you can control all aspects of your home through an app on your smartphone.
7. HANDOVER
It’s time for the handover and for you to enjoy your new luxury dream villa in one of the world’s top destinations.
Enjoy vacations in your own home in the best locations across Indonesia and earn an entirely passive income throughout the rest of the year. The project’s management takes care of all maintenance, marketing, and booking administration – all revenue to owners is a clean yield with no additional fees or expenses.
During your stay, you are granted access to incredible owner benefits and VIP service. Our flexible management programs allow you to decide your length and frequency of use.
Contact us now and start the journey to being a luxury villa owner.
Secana Beachtown