Aussie dollar paves the way for luxury villa boom in Bali
Buying a luxury villa in Bali is a dream for many of the 1.2 million Australians who make the pilgrimage to the so-called Island of the Gods each year.
Buying a luxury villa in Bali is a dream for many of the 1.2 million Australians who make the pilgrimage to the so-called Island of the Gods each year.
Whether buying as an owner-occupier or investor, purchasing can often be a fraught affair given the Indonesian government’s ban on foreigners buying freehold land across the 11,000-island archipelago.
However, developer Johannes Weissenbaeck, chief executive of Oxo Living, is single-handedly cleaning up the buying process as he launches his next residential project in Bali, at pristine Nyanyi Beach near the ancient Tanah Lot religious temple.
“I am trying to build an Aman or Four Seasons in the villa experience space because it does not exist in Bali,” said Mr Weissenbaeck, who has just launched his largest Bali development to date, Oxo The Residences.
“Buying in Bali has become a much safer investment; before it was hit-and-miss,” he says, adding that he already has much interest in the project from locals and overseas investors.
Positioned on a 2ha site, the sprawling development comprises 40 freestanding freehold luxury villas.
The development’s position is part of its attraction, given the villas are about 1 km from the pristine Nyanyi Beach, just past bustling Canggu – or about a 45-minute drive from Ngurah Rai Airport when the traffic is light.
“I am trying to raise the standard of buying property in Bali. It sounds so great to have a house in Bali and make money while you sleep. We are trying to facilitate that.”
Designed by acclaimed German architect Alexis Dornier, who specialises in modern, contemporary architecture with a tropical spin, the villas start from $US500,000 ($750,000) rising to $US1m for larger houses with up to five bedrooms and positioned on bigger plots of land.
Each two-level villa comes with its own swimming pool, plus a pool shower, shaded landscaped gardens, canopies and fire pit. The freehold plots range from 298sq m to 648sq m in size. Villa building sizes range from 184sq m to 280sq m.
Buyers can purchase by establishing a foreign direct investment company which costs about $US3000 to set up. There’s also a clubhouse and the possibility of a concierge car for residents’ use – electric-powered, of course.
“We wanted to come in with a price point of $US500,000 but at the same time give everyone nature and garden space so you have a sense you are in Bali not in a city,” said Mr Weissenbaeck, who spent 10 years working in branding in Sydney and has delivered more than 25 projects in Bali since he landed in 2013, ranging from villas, to private residences, studios, to a resort and townhouses.
Oxo’s The Residences Villas are within walking distance of the Russian-backed Nuanu Creative City, which is sprawled across a 44ha site with a yet-to-be-completed boutique hotel, schools for children and adult learning, as well as cultural, hospitality and entertainment facilities such as the cliffside Luna Beach Club right above the photographic Nyanyi Beach.
Building of the villa complex is expected to start by October, with completion due by the third quarter of 2026. The villas are pitched at both owner-occupiers and full-time residents.
Mr Weissenbaeck’s success in Bali, where he developed the six-bedroom Villa Chameleon in the Balinese jungle in Tabanan, and achieved a 70 per cent price gain when it sold three years later, is now based on the concept of building smaller.
Mr Weissenbaeck reckons that providing luxury Western amenities on smaller plots of land is the key. Gone are the days of sprawling villas on large parcels of Bali land which are difficult to upkeep.
“I think there’s a market for people who want to buy smaller,” he said.
“Effortless operation is absolutely critical here,” he said, adding that there are two main ingredients for success developing Bali villas: effortless operation coupled with design and size.
“I wanted higher quality and higher experience on smaller plots of land,” he said.
“By itself, Nyanyi emerges as a lush green paradise, enticing those yearning for tranquillity on the island.
“It is an exclusive area for Australians looking to spend their time in this unique part of Bali now that they can own property here.”
The Oxo Living boss, who employs 50 staff, adds that there’s a fundamental shift in Bali.
“You can have a fully managed investment and make double-digit returns; where else can you do that? It’s super solid if you are doing business with an established company. That was not there when I came here 10 years ago.”
The writer was a guest of Oxo Living.
