BUILDERS REPORT
Q4 2023
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EXECUTIVE SUMMARY
Welcome to REID's Q4 Builders Report! The following is an overview of the properties analyzed by REID in Q4 of 2023. REID’s carefully crafted and curated selection of data from key regions and neighborhoods will empower readers to become informed builders in Bali’s real estate market.
As a point of reference, key changes from REID’s Q3 Builders Report to the Q4 report include:
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The leasehold market median built size decreased from 187 sqm to 180 sqm.
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The market floor space ratio (FSR) increased from 78% to 80%.
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The market median price per sqm increased from $1,808 to $1,888.
MEDIAN BUILT SQM
LEASEHOLD MEDIAN BUILT SQM BY REGION
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Regions like Denpasar and Tabanan still maintained a large disparity between listed SQM and sold SQM, a difference of 71.6% and 13.8% respectively. These regions were consistent with Q3.
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Central Badung demonstrated the same value of 200 SQM in both listed and sold, where as in Q3 this difference was 88 SQM or 33.5%. This is an indication that builders are getting closer to delivering size expectations to the market.
LISTED TO SOLD SQM VARIANCE
LEASEHOLD MEDIAN BUILT SQM BY REGION & SIZE
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Four-bedroom properties were the most common size that consistently was above the market median, and conversely 5-bedroom properties were the least common above the market median.
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Mengwi across all bedroom sizes typically reached above the market median, with 1-bedroom properties meeting the market median exactly at 75 SQM.
ABOVE MARKET MEDIAN
BELOW MARKET MEDIAN
SALES DISTRIBUTION BY BUILT SQM
LEASEHOLD SUPPLY BY SIZE & SQM
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Consistent with Q3, the majority of the market sat in 1- to 4-bedroom properties, within the sub 400 SQM range. The remainder of the market indicated low values and was an indication of the market's demand and risk tolerance.
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Two-bedroom properties in the 100 to 200 SQM range were the the largest group at 1,149 properties, an increase of 31.7% from Q3.
MEDIAN FLOOR SPACE RATIO
LEASEHOLD MEDIAN FSR BY REGION
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Visit our Q3 Builders Report for a definition on floor space ratio (FSR).
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Regions like Mengwi, North Badung, and South Badung indicated the highest leasehold median FSR at 88.6%, 85.1% and 79.4% respectively.
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All regions, except Tabanan, increased in FSR from Q3, indicating Bali’s overall trend of maximising land and floor space in developments. Interestingly, Tabanan decreased by 2.4% and sat 28.8% below the market median.
LEASEHOLD MEDIAN FSR
BY REGION & SIZE
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Five-bedroom properties in South Badung and 1-bedroom properties in Central Badung possessed the highest FSR by region and size at 100%, and sat 29% and 36% above the market median respectively.
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Denpasar, Gianyar, and Tabanan predominantly sat below the market median; for example, 4-bedroom properties in Gianyar at 41% below the market median. From Q3, Gianyar still possessed the lowest density ratio across all property sizes.
BELOW MARKET MEDIAN
ABOVE MARKET MEDIAN
MEDIAN PRICE PER SQM
LEASEHOLD MEDIAN PRICE PER SQM BY REGION
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In all regions, except Other, the sold price per SQM fell behind the listed price per SQM. In regions like Mengwi, North Badung, and South Badung, this trend is consistent with Q3.
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Regions like Central Badung and Denpasar show the opposite trend from Q3, where sold rates per SQM out performed their listed rate per SQM.
LEASEHOLD MEDIAN PRICE PER SQM BY REGION & SIZE
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Six-bedroom properties in Mengwi were the highest listed median price per SQM at $2,747 in Q4. Mengwi outperformed the market median in most sizes.
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Two-bedroom properties were the dominant above market leader with a market median of $1,850.
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Blank values in this chart indicate no new properties of the corresponding size and region were added to the market.
ABOVE MARKET MEDIAN
BELOW MARKET MEDIAN
THANKS FOR READING!
Looking for a specific neighborhood or data point? Contact us to learn more.
In summary, Q4 of 2023 showcased consistent trends with previous quarters, and has overall indicated further expressions of stability and confidence in Bali’s real estate economy. The market has indicated closer listed and sold values, as well as consistent supply of property types by size and SQM. Additionally, median floor space ratios indicated tighter density in developments throughout Bali.
As the Q4 Builders Report is a high level snapshot and summary of the market, REID also offers more precise and tailored solutions. Contact us to see how we can meet your real estate needs.
See our other reports below: