“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.

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. Since telecommuting will continue to grow and people will have more flexibility on where they live, buyers will focus on real estate sales in remote, beautiful locations to be in places they can do activities they love, such as surfing.  

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.

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 precrafted 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.

For more information on Selo Group and its projects, please visit www.selogroup.co