What Rp 4 billion buys in each market
Dubai homes averaged AED 1,636 per sq ft in August 2026 (Cavendish Maxwell), about Rp 86 million per m² at September's exchange rate. ValuStrat's index came in lower, at AED 1,513, or Rp 79 million. The median villa in our Bali catalog asks Rp 41.8 million per m², while apartments sit at a median of Rp 61.4 million.
At that rate, Rp 4 billion is about AED 820,000. In Jumeirah Village Circle (JVC), one of Dubai's busiest rental districts, apartments asked AED 1,470 per sq ft in the first half of 2026 (Bayut), so the money buys a one-bedroom of roughly 52 m² (≈ 560 sq ft). In Canggu it buys a two-bedroom pool villa.
| Market | Price per m² | Source |
|---|---|---|
| Dubai, Dubai Marina apartments | About Rp 111 mn | Bayut, H1 2026, asking |
| Dubai, citywide average | Rp 79–86 mn | ValuStrat and Cavendish Maxwell, August 2026 |
| Dubai, JVC apartments | About Rp 77 mn | Bayut, H1 2026, asking |
| Bali, median apartment | Rp 61.4 mn | Rise Real Bali catalog, September 2026 |
| Bali, median villa | Rp 41.8 mn | Rise Real Bali catalog, September 2026 |
Source: Cavendish Maxwell via Khaleej Times, September 7, 2026; ValuStrat, August 2026; Bayut Dubai Sales Market Report H1 2026; dirham converted at about Rp 4,874 (Bank Indonesia JISDOR, September 24, 2026)
Gross yield in Dubai, net yield in Bali
Dubai yields are almost always quoted gross: a year's rent divided by the price. Citywide estimates for 2026 sit at 6.3–6.7% depending on the source. Bayut puts JVC apartments at 7.15% and Dubai Marina at 5.88%, both on asking prices.
To compare fairly, take the costs off. The JVC one-bedroom rents for about AED 59,000 a year. It pays a service charge of roughly AED 12–18 per sq ft, around AED 8,400 for this unit, plus about a month of vacancy and 5% for letting. That leaves about 5% net, and no income tax on a long let.
Let at Rp 2.5 million for 60% of its nights, the Canggu villa keeps about 8.2% net for an Indonesian tax resident, after management, upkeep, empty nights and the 10% final tax. A non-resident, including a UAE resident, pays 20% withholding instead, and lands near 6.8%.
| Line | Dubai, JVC 1-bedroom, long let | Bali, Canggu 2-bedroom villa |
|---|---|---|
| Rent a year | Rp 286 mn (7.15% gross) | Rp 548 mn (13.7% gross) |
| Service charge or management | Rp 41 mn service charge | Rp 99 mn, 18% of revenue |
| Vacancy, letting, upkeep | Rp 38 mn | Rp 66 mn |
| Tax | None | Rp 55 mn resident, Rp 110 mn non-resident |
| Net to the owner | About Rp 207 mn, 5.2% | About Rp 329 mn, 8.2% (6.8% non-resident) |
Source: Bayut H1 2026 for JVC yield and price; Driven Properties and Luxhabitat on 2026 service charges; Rise Real Bali yield model; PP 34/2017; Income Tax Law, Article 26
Want the numbers for your budget?
Gusti Ayu will send the net yield math for your budget on WhatsApp.
The lease is the real difference
In Dubai's designated freehold areas, a foreigner owns the unit outright and can leave it to heirs. In Bali, most foreigners buy a leasehold, and every year of it you use up is a year the next buyer won't pay for. On a 30-year lease, that's about 3.3% of the price a year.
Take that off the Bali yield and the gap closes. A resident owner nets roughly 8.2% minus 3.3%, about 4.9%, against 5.2% in JVC. A non-resident ends up near 3.5%. Bali wins on cash in hand every year. Dubai wins on what's left at the end, if prices hold.
Bali isn't all leasehold. Residents also have a registered option, Hak Pakai, a right-to-use title that renews under the law and opens for houses priced from Rp 5 billion. Our ownership guide sets out each route.
- 5.2%
- 4.9%
- 3.5%
Source: Rise Real Bali model, September 2026
Costs to get in and to rent short-term
Dubai charges a 4% Dubai Land Department transfer fee, plus about 2% agent commission with 5% VAT on it and several fixed admin fees. Budget 7–10% on top of the price. Bali lands around 10% too on a leasehold, mostly the notary, furniture and a cash reserve, with no transfer duty because a lease isn't registered as a title.
Short lets change the Dubai math. A holiday home needs a permit from the Department of Economy and Tourism, and guests pay a Tourism Dirham of AED 10–15 per occupied bedroom per night for the first 30 nights. Once turnover crosses AED 375,000 you register for VAT at 5%. Business income above AED 1 million a year brings a 9% corporate tax on profit over AED 375,000.
In Bali, short-term letting needs a license too. Since August 1, 2026, booking platforms have been removing unlicensed rentals. Our license guide covers what a villa needs.
Source: Property Finder, July 3, 2026; Pearlshire, 2026; Mazeed, January 21, 2026; Houst, 2026; Federal Tax Authority, guide CTGREI1, October 2024; Ministry of Tourism of Indonesia
Both markets are cooling in 2026
Dubai's prices fell 1.7% year on year in August 2026, the first annual decline since early 2021 (Cavendish Maxwell). ValuStrat measured a 3.1% drop. CBRE counted 29% fewer transactions in the second quarter than a year earlier, and rents slipped 6.2% on the quarter, as developers handed over about 18,000 new units in the first half.
Bali's pressure shows up in rents rather than prices. Revenue per short-term listing fell 23.1% in Canggu and 27.9% in Pererenan over the past year, as listings grew faster than guests (AirROI). Arrivals held near their record, 3.90 million for January to July 2026, down 1.98%.
Source: Cavendish Maxwell via The Week, September 8, 2026; ValuStrat, August 2026; CBRE UAE Real Estate Market Review Q2 2026 via Gulf News; AirROI, September 2026; BPS Bali via Antara, September 1, 2026
Residency through property
Dubai links the two directly. Property worth AED 2 million, about Rp 9.7 billion, qualifies for the 10-year Golden Visa, and a sole owner no longer needs a minimum value for the two-year property visa (Middle East Briefing, May 2026).
Indonesia works the other way around. You need residency first, a KITAS or the Second Home visa, before you can hold a right-to-use title. A leasehold needs no permit at all.
Source: Middle East Briefing, May 29, 2026; PP 18/2021
Which market fits which buyer
The yield figure rarely settles it. Decide whether you're buying a title to hold for decades or cash flow you can spend now.
Dubai fits if
- You want a permanent title your heirs inherit
- Zero income tax matters most
- You'd use the purchase for residency
- An apartment suits you
Bali fits if
- You want a pool villa at a mid-range budget
- You want more cash each year
- You'll use the villa yourself part of the year
- You count the lease term as part of the price
Source: Rise Real Bali buyer practice, 2023–2026
Run your Dubai option against a Bali villa
Send us the Dubai unit you're weighing, with its service charge and expected rent. We'll set it next to villas from our catalog at the same budget and compare both on net figures, lease run-off included. For the full ten-year picture, see our 10-year model.
What this means for buyers
- Rp 4 billion buys a one-bedroom of about 52 m² in JVC or a two-bedroom pool villa in Canggu.
- Before lease run-off, Bali nets about 8% for a resident and JVC about 5%.
- Count the lease at 3.3% a year and the two land close.
- Dubai prices turned negative year on year in August 2026, and Bali rents per listing fell as supply grew.
Next step: Bali vs Phuket: Where Property Nets More
FAQ
Is Bali or Dubai better for property investment?
Bali pays more cash, and Dubai keeps more capital. Rp 4 billion earns about 8% net in a Canggu villa for a resident owner against about 5% in a JVC apartment. After the Bali lease runs down, about 3.3% a year on a 30-year term, the two land close (Rise Real Bali, September 2026).
What is the rental yield in Dubai in 2026?
Gross yields run about 6.3–6.7% citywide, 7.15% in JVC and 5.88% in Dubai Marina (Bayut H1 2026 and index providers). After service charges, vacancy and letting costs, a JVC one-bedroom nets about 5% in our estimate.
Do you pay tax on rental income in Dubai?
Not on an ordinary long let, since the UAE has no personal income tax. A licensed holiday-home business with turnover above AED 1 million pays 9% corporate tax on profit over AED 375,000. Short stays carry 5% VAT once turnover passes AED 375,000.
Are Dubai property prices falling?
Cavendish Maxwell recorded a 1.7% year-on-year fall in August 2026, the first since early 2021, and ValuStrat measured 3.1%. CBRE counted 29% fewer transactions in the second quarter of 2026 than a year earlier.
Can foreigners own property forever in Bali?
Not as freehold. Foreigners buy a leasehold, usually of 25–30 years with a contract extension, and residents can hold Hak Pakai, a right-to-use title renewed under the law. In Dubai's designated areas, foreigners hold freehold outright.
How we know this
Both sides use Rp 4 billion, converted at about Rp 4,874 per dirham (Bank Indonesia JISDOR, September 24, 2026). The Dubai unit is a JVC one-bedroom priced at Bayut's first-half 2026 asking price of AED 1,470 per sq ft, let long-term at Bayut's 7.15% gross yield. Costs are a service charge of AED 15 per sq ft, the middle of the 2026 range for JVC, one month of vacancy and 5% for letting. The Bali villa uses our yield model: a Rp 2.5 million nightly rate, 60% of nights booked, 18% management, 12% for upkeep and empty nights, and 10% final tax for residents or 20% withholding for non-residents. Lease run-off assumes 30 years left, spread evenly. We leave price growth out on both sides. Dubai figures rely on published market reports, several of them built on asking prices. Tax points follow the UAE Federal Tax Authority guide CTGREI1 and Indonesian law. This is an estimate, not a promise of income.
- Cavendish Maxwell, Dubai market update, August 2026, via Khaleej Times and The Week, September 7–8, 2026
- ValuStrat, Dubai price index, August 2026
- Bayut, Dubai Sales Market Report H1 2026
- CBRE, UAE Real Estate Market Review Q2 2026
- Property Finder, DLD fees, July 3, 2026; Driven Properties and Luxhabitat, service charges, 2026
- Federal Tax Authority, Real Estate Investment for Natural Persons (CTGREI1), October 2024
- Mazeed and Houst on Tourism Dirham and holiday-home permits, 2026
- Middle East Briefing, Dubai property investor visa, May 29, 2026
- Bank Indonesia, JISDOR rate, September 24, 2026
- PP 34/2017; Income Tax Law, Article 26; PP 18/2021
- AirROI, Bali short-term rental data, September 2026; BPS Bali, arrivals January–July 2026
- Rise Real Bali catalog and yield model, September 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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