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SELLERS REPORT

Q4 2023

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EXECUTIVE SUMMARY

Welcome to REID's Q4 Sellers 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 sellers in Bali’s real estate market. 

 

As a point of reference, key changes from REID’s Q3 Sellers Report to the Q4 report include: 

 

  • The proportion of leasehold and freehold supply of property remained the same at 71% and 29% respectively.

  • The median market clearance rate has increased from 12.3% to 13.1%.

  • The median discount rate has decreased from 0.6 to -4.9%.

CLEARANCE RATE
BY SIZE

  • Check out our Q3 Sellers Report for a definition of clearance rate.
     

  • Consistent with Q3, 3-bedroom leasehold properties were the predominant group being sold at 18.5%, followed by 1-, 2- & 5-bedroom leasehold properties.
     

  • Leasehold properties classified under any bedroom size outperformed the sale of freehold assets. For 1- & 2-bedroom properties, the disparity between clearance rates reduced. 

MARKET SHARE
OF SALES

LEASEHOLD SALES VOLUME BY SIZE

LEASEHOLD CLEARANCE RATE BY REGION

  • Five regions, Denpasar, North Badung, and Mengwi, South Badung, and Tabanan  performed higher than the market clearance rate of 13.1%
     

  • Despite an increase from Q3, Bali’s real estate clearance rates were low in comparison to more established markets, such as Australia or Canada, indicating a general requirement for further evolution and confidence within this sector. 

MARKET CLEARANCE RATE

LEASEHOLD CLEARANCE RATE BY REGION & SIZE

  • ​Consistent with Q3, 1-bedroom properties outperformed the market median clearance rate for the majority of regions in Bali, and 4-bedroom properties were still the largest group clearing higher than the market median.

 

  • The highest clearance rates sat with 5- and 6-bedroom properties in Tabanan at 33.3%, and 4-bedroom properties in Denpasar at 42.9%. 

ABOVE MARKET MEDIAN

BELOW MARKET MEDIAN

NEW LISTING SUPPLY SHARE BY SIZE

MARKET SUPPLY
BY SIZE

  • The market supply by number of bedrooms remained consistent with Q3. Maintaining its status, 3-bedroom properties were the most popular leasehold and freehold asset in the market, with 1,823 freehold and 763 leasehold properties.
     

  • Two-bedroom leasehold properties were the second most popular group, an increase of 27.8% from Q3.  Properties of 2-, 3- and 4-bedroom sizes continued to maintain the majority share of the leasehold market supply at 75%. 

LEASEHOLD BEDROOM SUPPLY

LEASEHOLD SUPPLY
BY REGION

  • North Badung and Mengwi remained the market leaders in the supply of leasehold properties in Q4 at 40% and 22%, respectively. 
     

  • All other regions remained stable with negligible movement (+/- 1%), continuing to convey the market’s consistency of leasehold supply.

SUPPLY
BY REGION & SIZE

  • Two, 3- and 4-bedrooms were the major supply group, with the largest being 698 3-bedroom properties in North Badung. 
     

  • As a note from our Q3 Buyers Report, the REID team made an amendment to the infographic data relating to ‘Supply by Region & Size’ due to revised leasehold and freehold data. Please feel free to view this update in our Q3 Sellers Report

MEDIAN LISTING TO SALE PRICE

LEASEHOLD MEDIAN DISCOUNT RATE BY REGION

  • Discount Rate is the percentage change between sold price versus listed price. 
     

  • Gianyar experienced the most significant difference between the median sale price and median listing price at -20.4%. From Q3, the market saw a decrease of 13.8%. These changes in discount rate from quarter to quarter may further indicate the market's position.

LEASEHOLD MEDIAN DISCOUNT RATE BY REGION & SIZE

  • The majority of regions performed at a negative discount rate, meaning they were sold for less than they were listed at.
     

  • Despite this, 1-bedroom properties in established regions like Denpasar and 4-bedroom properties in regions like South Badung performed higher than the market median,  by 5.2% and 34.1% respectively.

ABOVE MARKET MEDIAN

BELOW MARKET MEDIAN

PRICE DISTRIBUTION

LEASEHOLD PRICE DISTRIBUTION BY REGION

  • Each region portrays its own narrative. When the listed and sold range are close in value and appear balanced, this is an indication that properties are selling for a market-driven value and meeting price expectations. 
     

  • For example, in Mengwi, properties in the value range of $300,000 - $400,000 varied -11.7% between the listed and sale price, indicating a clear differentiation of perceived value between vendors and purchasers.

CENTRAL BADUNG

DENPASAR

GIANYAR

MENGWI

NORTH BADUNG

SOUTH BADUNG

TABANAN

OTHER

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 overall indicated further expressions of confidence in Bali’s real estate economy. Comprehensively, the market has far to develop to achieve clarity in values, which is illustrated through fluctuating market median discount rates and price distributions. Additionally, the market is generally clear on its supply type trends with outliers in larger bedrooms and premature regions. 

 

As the Q4 Sellers 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:

 

WANT TO KNOW MORE?

We gratefully acknowledge the Native Peoples on whose ancestral homelands we gather, as well as the diverse and vibrant Native communities who make their home here today.

—Land Acknowledgement

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