REVIEW
Property360Digest e-magazine Issue # 8 - 2021
By Gunaprasath Bupalan
The Scenic Island that Could Be South East Asia ’ s Next Property Gold Rush
Selo Group , an award-winning and fully integrated development company based in Singapore , drew on its extensive industry experience and insight from its board of directors to share why now is the best time to invest in real estate in Lombok , Indonesia .
The island ’ s pristine natural beauty , a robust government redevelopment campaign , and ongoing investment from local developers are preparing the region for a sharp spike in land value and visitor numbers . The company also noted the rise of the luxury surf market , with more tourism projects developed to target the high-end consumers . Selo offers multiple opportunities to own luxurious and affordable real estate in Lombok and plans to create an ecological park that will become a major attraction for the area .
“ Lombok has been an alternative to the populated beaches of Bali for decades , but its remote location and underdevelopment affected the appeal for mainstream tourism ,” said Andrew Corkery , CEO of Selo . “ That is all set to change with a new focus on development , along with the recent surge of telecommuting and a rise in luxury surf tourism . Lombok ’ s upcoming transformation will attract numerous investors and send property prices skyrocketing .”
Using a direct cost method , international surf tourism expenditure is valued at over $ 31 billion USD . A recent study showed that 91 percent of surfers from a variety of countries had taken an international surf trip in the past five years , and this demand was driven by a desire to find uncrowded , high-quality waves .
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