The commercial real estate market in Bali recorded significant growth in 2024, with an 8.46% increase in the price index in the fourth quarter, according to a macroeconomic survey by Bank Indonesia. This brought the index to 122.13 points, driven by a strong rebound in demand and a renewed influx of investors.
The hospitality sector led the surge, with rental prices rising by 8.36%, fueled by Bali’s booming tourism industry. Retail spaces and apartments followed with 8% growth, while office spaces saw a more moderate rise of 5.1%. Overall, demand for commercial properties increased by 4.18%, while supply grew by just 3.08%, further intensifying pressure on prices.
A Growing Demand Driven by Tourism Appeal
This price surge comes in the context of a robust economic recovery in Bali. Tourism has returned to levels close to those seen before the pandemic, giving a strong boost to the hotel sector. The Bali Hotel Association reported its highest performance figures to date, reflecting a growing interest in the island’s hospitality industry.
Both domestic and international investors are turning their attention to high-demand areas such as Canggu, Seminyak, and Uluwatu, where property prices range between USD 3,000 and USD 5,000 per square meter. For comparison, according to Properstar (2025), the median price of an apartment in Bali is approximately IDR 60,578,391 per m² (around USD 3,800/m²), while houses average IDR 33,874,498 per m².
A Sustainable Trend to Watch
The limited availability of land in coastal areas, combined with steady demand, suggests continued price growth in the coming years. Commercial real estate in Bali is positioning itself as a strategic market for investors seeking strong returns in Southeast Asia. However, attention should be paid to potential changes in local regulations, especially those affecting foreign ownership and operating licenses.
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