“ The island of Lombok is the fastest growing tourism market in Indonesia , resulting in a unique window of opportunity for buyers to invest in property on the island while it remains exclusive and at a good value . With its amazing surfing spots , natural beauty , lush jungles and beyond , it is an oasis for beach goers , surfers , and outdoor enthusiasts to escape to for sanctuary ,” added Andrew .
In 2016 , Indonesian president Joko Widodo announced a “ 10 New Balis ” plan , which focused the government ’ s efforts on developing 10 popular Indonesian regions into tourist hubs to attract foreign investment , encourage international visitors , and reinvigorate the economy . Despite recent setbacks , including the 2018 Indonesian earthquakes and COVID-19 , the government predicts the island will receive two million foreign tourists per year once the redevelopment has been completed .
Lombok ’ s redevelopment will have a strong impact on independent property investors as well as the region ’ s economy . According to several peer-reviewed studies , there is a strong positive correlation between increased tourism and higher housing prices , so owners will see a rise in land value regardless of whether they rent out their properties . This will create a cycle of investment , where private and government buyers will invest more into properties as developments become profitable , attracting more tourists , which will then increase the value of those investments and lead to more buyers and additional increases in land value .
Located to the east of Bali , Lombok ’ s scenic landscape is a major appeal to real estate investors . The majestic island is filled with natural beauty , from white sand beaches , volcanic treks , and lush jungles to breathtaking waterfalls .
Surfing is one of the fastest growing sports in the world , and Selo has noticed an increase in surfing-focused vacations and a transition to a more high-end customer . There are many real estate opportunities for surfing enthusiasts in Lombok , including Selong Selo Resort & Residences , the group ’ s award-winning flagship resort and residences on the southern coast . Local bodies and conservation groups are intent on preserving the island ’ s resources , so sustainability will be implemented to protect the local lifestyle and eco-tourism value .
Property360Digest e-magazine Issue # 8 - 2021
Lombok ’ s scenic landscape is a major appeal to real estate investors
In addition to its current portfolio of villas , Selo is in the process of constructing Luxury Surf Villas , an exclusive resort featuring 20 opulent villas that complement their stunning natural surroundings and has just introduced a new pre-crafted villas development process that allows investors to build their dream home anywhere in Indonesia . Selo is also building a large-scale ecological park behind Selong Selo Resort & Residences . The 100- hectare site will feature walking tracks , picnic spots , refreshment huts , horse and mountain biking trails , dams and rivers , forests , and a nursery . The eco-park is expected to drive up regional land value and will promote regeneration and restoration of the environment and social resilience , all in harmony with commercial development on the island .
After consulting with numerous prominent tax consultants and lawyers , Selo Group found that Indonesia ’ s tax protocol has been the biggest driver in residential real estate investors moving away , so the company advises clients on tax matters with regards to worldwide income when constructing a villa on leased land and renting it out for commercial purposes . More information can be found here .