Bali Villas Rent Prices Have Been Rising
By the end of this year rent prices for villas in the Province of Bali are expected to rise 4 percent over the increasing number of tourists, both domestic and foreign.
“The average rental price for a ‘private villa’ with one single room range from 334 dollars at ‘low season’ to 420 dollars during ‘peak season’,” says Elite Havens partner Matthew Georgeson.
While the price of a two-room villa is about 403 dollars at ‘low season’ and 473 dollars during ‘peak season’.
According to Matthew, the economic crisis in Europe effects of decreasing the number of requests to rent a villa.
“European crisis makes villa rentals are declining, but the increasing frequency of low-cost direct flights from big cities in Australia to Bali has a positive impact,” he said.
Compared with average rents last year, said Matthew, one bedroom villa rental prices experienced the highest growth during “low season” by 21 percent and a six -room private villa by 27 percent. While the price of a four- room private villa has dropped to 8 percent.
“During the ‘peak season’, villa rental prices of one room and six rooms grew by 14 percent and 13 percent. A four room villa has dropped by 11 percent, whilst the villas are still in demand by developers and buyers. “he said.
“In addition, increasing supply and decreasing the number of stay affects the level of occupancy of villa rentals in Bali.”
“Seminyak area has still recorded the highest price for the ‘private villa’ at 68.2 percent, followed by Hill, Canggu and Tabanan by 62.4 percent and 54.8 percent and 52.1 percent,” he said.Filed under: Headlines