Bali Among 60 Chosen Cities of the World Billionaires

SEMINYAK ~

International consultant agency, Wealth-X, recorded the population of billionaires or known as the Ultra High Net worth Individuals (HNWI) continues to grow 34 % during 2009 to 2012.

This condition led to rising demand for luxury homes especially in the exclusive area around the world.

From the latest reports from the British consultant, Savills, it is revealed that there are 60 cities in various regions of the world that often become the target of billionaire society.

One surprising thing is that among rows of luxurious residence wanted area forthis HNWI, exclusive property in the region of Bali, Indonesia being one of them.

In its report, Savills stated that billionaires in Asia are quite few, which 43 thousand people. The definition of the billionaire is aimed at community groups who have assets up to U.S. $ 30 million.

Savills noted that the area that became the destination of the rich Asian buying second homes is concentrated in three locations: Phuket and Koh Samui (Thailand), Bali (Indonesia), and Niseko (Japan).

Especially for Bali, Savills reported the growth of real estate industry in the island is along with tourism industry development. Bali at least is able to attract 7.9 million foreign tourists in 2012.

“Ubud, Sanur, Nusa Dua, Jimbaran and Seminyak is the most desired tourist destination,” the report said.

One of the desired ones for Asian billionaire is the Bukit Peninsula. This property is a target of the billionaires and famous people.

Property prices in Bali have increased moderately since the last five years but it jumped 11 % in the first half of 2013.

This increase was triggered by rising of land prices, lack of supply, as well as increasing interest from the local rich people.

This challenge will encourage the development of new properties to meet the demand.

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