How does a Bali apartment differ from a villa?
In a Bali apartment investment you buy a unit in a shared building, while a villa is a house on its own plot. Listings say "apartment" or "condo" for the first, and "condotel" when a hotel operator rents the unit for you.
The median apartment in our catalog costs Rp 2.51 bn for about 43 m². The median villa costs Rp 5.46 bn for about 142 m². Per square meter the apartment is dearer, Rp 60.6 mn against Rp 43.1 mn. Our villa price guide covers villas.
| Apartment | Villa | |
|---|---|---|
| Entry | Rp 2.51 bn for about 43 m² | Rp 5.46 bn for about 142 m² |
| Ownership | Leasehold in about 97% of listings. Strata title from Rp 2 bn | Leasehold in about 91%. Hak Pakai from Rp 5 bn, or a PT PMA with HGB |
| Running costs | Service charge, sinking fund, operator's fee | Your own staff, pool and garden, Rp 10.5–18.2 mn a month |
| Yield drivers | Occupancy at a low nightly rate | A higher rate, with costs that continue when empty |
| Resale | Smaller ticket. Lease years left set the price | Larger ticket. Lease years left still set the price |
Source: Rise Real Bali catalog (published listings), October 2026; Decree 1241/2022; Alpha Partner Bali, May 2026 (owner-run one- to three-bedroom pool villa)
Can a foreigner hold strata title to a Bali apartment?
Yes, but only as a unit title and above a price floor. Under Government Regulation 18/2021, a foreigner with valid immigration papers can hold strata title to an apartment unit (HMSRS). In Bali the unit must cost at least Rp 2 bn (Ministerial Decree 1241/2022), against Rp 5 bn for a house.
The building must stand on land held under HGB or Hak Pakai (Law 20/2011, Article 17). On state land that right runs 30 years, extends by 20 and renews for 30, and the unit title can't outlive it (Hukumonline, August 2025).
The rules also frame these purchases as homes, since Article 69 speaks of a residence or dwelling. If you plan to let the unit, get your notary to confirm in writing that your structure allows it. Our Hak Pakai guide covers houses.
Source: Government Regulation 18/2021, Articles 69–71; ATR/BPN Decree 1241/SK-HK.02/IX/2022; Law 20/2011, Article 17; Hukumonline, February 2023 and August 2025; Bisnis.com, August 2023
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Why are nearly all Bali apartments leasehold?
Leasehold needs no price floor, no visa and no new land title, which helps explain it. About 97% of apartment listings in our catalog are leasehold (our count, October 2026), and the few that mention strata title treat it as a later step or an open question.
You buy years of use, not land. The base term is typically 27 years, and about half the listings state an extension.
Those years run down. On a straight line, a Rp 2.3 bn studio on a 27-year lease gives up about Rp 85 mn of value a year (our calculation). At Rp 176 mn net (the 60% case below), that run-off leaves about 4% of the price. See leasehold vs freehold and lease extensions.
Source: Rise Real Bali catalog, October 2026; our straight-line run-off calculation
How do managed apartment programs pay the owner?
Most pay a share of revenue, and some add a fixed guarantee for the first years. The operator rents the unit, keeps a fee and sends you the rest. A guarantee pays a set percentage of the price whatever the unit earns.
In our model a management company takes 18% of revenue and a resort operator about 23%. Upkeep, repairs and empty nights take 12%, and income tax takes 10% for a resident. The owner keeps about 60%, or 55% with a resort operator. A non-resident pays 20% withholding (PPh 26) and keeps about 50% (Ortax, June 2026).
Owner's nights set your free stays, and operators often block July, August and New Year. Guarantees run two to five years in the contracts we see, and real occupancy shows only after. Our management fees guide covers the rest.
Source: Rise Real Bali yield model and our reviews of operator agreements, 2023–2026; Ortax, June 19, 2026; Bukitvista, updated March 2026
Does a studio or a one-bedroom earn more?
A one-bedroom nets about 0.3 points more in our model, close to a tie. Revenue is the nightly rate times nights booked, and the owner keeps about 60%. The extra bedroom pays mainly through a higher rate.
The median studio costs Rp 2.3 bn for 33 m², the one-bedroom Rp 2.5 bn for 49 m². Our yield models price them at Rp 1.34 mn and Rp 1.52 mn a night. The island-wide average is 36.0% occupancy at Rp 2.85 mn a night, villas included (AirROI, 12 months to September 12, 2026).
| Occupancy | Studio gross | Studio net | One-bedroom gross | One-bedroom net |
|---|---|---|---|---|
| 40% | 8.5% | 5.1% | 8.9% | 5.3% |
| 60% | 12.8% | 7.7% | 13.3% | 8.0% |
| 70% | 14.9% | 8.9% | 15.5% | 9.3% |
Source: Rise Real Bali catalog and yield models, October 2026; AirROI Bali market page, 12 months to September 12, 2026, converted at the rate our site uses
What do service charges and the sinking fund cost?
Expect a monthly service charge billed per square meter, plus a reserve for big repairs. The sinking fund pays for lifts, pumps and repainting at roughly 10–15% of the charge (OCBC Indonesia, January 2025; Mamikos).
Jakarta guides disagree on the charge: Rp 20,000–25,000 per m² a month (detikProperti, September 2023) against Rp 10,000–15,000 (Mamikos, undated). Bali buildings set their own. At an illustrative Rp 25,000, a 33 m² studio pays Rp 9.9 mn a year. That trims net yield by 0.4 points. Our 12% upkeep line doesn't necessarily cover it, so find out who pays.
In a building registered as rumah susun, ask for its owners' association (P3SRS). ATR/BPN warned in June 2026 that a missing one, or expired land rights, can leave a unit unsellable and unmortgageable.
Source: OCBC Indonesia, January 15, 2025; detikProperti, September 20, 2023; Mamikos; ATR/BPN via iNews and RCTI+, June 1, 2026; Rise Real Bali calculation
Are cheap Bali apartments worth buying?
They can be, because cheap usually means small, not short-leased. About a third of apartment listings cost under Rp 2 bn, with a median of Rp 1.74 bn for 30.5 m² (our count, October 2026). The cheapest start near Rp 1.2 bn. Their median base lease is 28.5 years, slightly longer than the 27 years on dearer units.
Per square meter the gap is small too: Rp 56.4 mn against Rp 62.7 mn. Below the Rp 2 bn floor a foreigner can't take strata title in Bali, so these deals run as leaseholds. Check the lease years left and the build stage, because most listings are still under construction.
Source: Rise Real Bali catalog, October 2026; Ministerial Decree 1241/2022
How easily can you sell a Bali apartment?
It depends on the lease years left and on the paperwork. As far as we know, no public index adjusts Bali apartment resale prices for the lease years left, so your exit value is an assumption.
A leasehold changes hands by assignment: the buyer steps into your contract, and the landowner may need to consent. A strata unit sells like any registered title, with buyer's transfer duty (BPHTB) up to 5% and a 2.5% final income tax for the seller (Law 1/2022; PP 34/2016).
Two limits narrow the buyers. A strata unit that resells below Rp 2 bn can't go to a foreign buyer as strata title under the decree, and a building without an active owners' association can be hard to sell at all. Model the exit at the lease value left.
Source: Rise Real Bali practice; Law 1/2022; PP 34/2016; Hukumonline and Pajakku on property transfer taxes; ATR/BPN, June 1, 2026
Run the numbers on a real apartment
Apartment listings cluster in Canggu and Seseh, with more around Ungasan and Nusa Dua. Test a unit in the yield calculator, then browse the catalog for lease terms and our yield estimates.
Send us the price list and the operator's draft agreement, and we'll model the unit. The developer or seller pays our commission. Villa math is in our rental yield guide.
What this means for buyers
- An apartment costs about half a villa, but each square meter costs more.
- A foreigner's strata title starts at Rp 2 bn, and nearly every listing runs as a leasehold instead.
- A managed studio nets 5–9% in our model. Occupancy moves that number more than the unit type does.
- Price your exit at the lease years left, and ask about service charges first.
FAQ
Can foreigners buy an apartment in Bali?
Yes. Most buy leasehold. A foreigner with valid immigration papers can also hold strata title (HMSRS) to a unit priced at Rp 2 bn or more in Bali, if the building stands on HGB or Hak Pakai land. Check that land right and its remaining years first.
Is a condo in Bali freehold?
No. Freehold (Hak Milik) is reserved for Indonesian citizens. A Bali condo is a leasehold or a strata unit on HGB or Hak Pakai land, and the years left on that land right decide how long you keep it.
How much does an apartment cost in Bali?
The median apartment in our catalog costs Rp 2.51 bn for about 43 m² (October 2026). Studios sit around Rp 2.3 bn and one-bedrooms around Rp 2.5 bn. Ask what's included.
Which is better for investment in Bali, an apartment or a villa?
On our model the net yields overlap, at roughly 5–10%. An apartment needs about half the capital and less day-to-day work, but its income rests on the operator's contract. A villa costs more and earns more per night, with staff, pool and garden costs on you.
Are Bali apartments with a rental guarantee worth it?
A guarantee pays the owner a set share of the purchase price each year, for two to five years in the contracts we see. Real occupancy shows only when it ends. Ask who pays it and what the unit would cost without it.
How we know this
Catalog figures are medians of published listings on October 5, 2026, converted at Bank Indonesia's September 25, 2026 rate. Nightly rates come from our own yield models, which adjust AirROI area data for unit type. The owner's 60% is revenue minus 18% management, 12% wear and vacancy, and 10% resident tax. The Rp 25,000 service charge is illustrative, from Jakarta guides. Hukumonline, Bisnis.com and detikProperti give Rp 2 bn as the Bali floor for apartments. One 2023 report said Rp 3 bn, so we use the shared figure. This isn't legal, tax or investment advice.
- Government Regulation No. 18 of 2021 on land rights, Articles 69–71
- ATR/BPN Decree 1241/SK-HK.02/IX/2022, minimum prices for foreign buyers
- Law No. 20 of 2011 on condominiums (rumah susun), Articles 17 and 46
- Hukumonline, foreigners' minimum prices, February 2023, and apartment ownership status, August 11, 2025
- Bisnis.com, minimum prices for foreign buyers, August 3, 2023; detikProperti, foreign property ownership, December 21, 2024
- ATR/BPN advisory on apartment land rights, reported by iNews and RCTI+, June 1, 2026
- AirROI, Bali market page, 12 months to September 12, 2026
- Ortax, villa rental income of non-residents, June 19, 2026; Bukitvista, rental tax guide, updated March 2026
- OCBC Indonesia, service charge and sinking fund, January 15, 2025; detikProperti, September 20, 2023; Mamikos
- Hukumonline and Pajakku, seller and buyer taxes on property transfers; PP 34/2016; Law 1/2022
- Alpha Partner Bali, villa running costs, May 2026
- Rise Real Bali catalog and yield models, October 2026; our reviews of operator agreements, 2023–2026
By Dmitrii Rogov, Rise Real Bali.
Rise Real Bali is a real estate agency in Bali. We write from the deals we handle and from public data, and we name our sources.
This report is published under the CC BY 4.0 license. You may quote, republish and use the figures and text commercially if you credit "Rise Real Bali", name the license and link to this page. Photos and renderings are not covered by the license: their rights belong to the developers and other rights holders.
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