Apartments for sale in Bandung
The average cost of apartments in Bandung is lower compared to other popular locations in the country, which makes this Indonesian city a promising destination for overseas investors. Bandung, unlike Bali, is not a resort region. The investment housing market is just developing here, thanks to which investors can profitably buy apartments in Bandung to earn money on their subsequent resale or renting them out.
Badung is the centre of the West Java province and the third most populous city in Indonesia. It is mainly inhabited by locals and there are not many tourists, as the city has no access to the sea. It is located 100 kilometres from Jakarta.
Foreigners may also find the city interesting to live in. Here, you can find a job in a large international company or open a private business. The city’s infrastructure is well-developed: there are large shopping centres, supermarkets, educational institutions for children, and several universities. There are many restaurants serving European cuisine. The major foreign investors here are citizens of China and neighbouring Asian countries. However, today this direction is becoming more popular with buyers from other countries.
Foreigners planning to buy an apartment in Bandung for investment and living should consider a few important features:
- A foreigner has the right to buy property in Indonesia for long-term ownership. The exact period of ownership is set by the owner of the housing. It is usually 25–45 years. The term can be extended for an additional fee of $1,000 per year.
- Recent changes in Indonesian law provide the possibility for foreigners to buy a flat or house in private ownership. But it is only allowed to do so in designated areas and free economic zones.
- In the province of West Java, where the city is located, foreigners are allowed to buy properties only if they are worth at least $65,500.
- Foreigners are allowed to pay for a flat for sale in Bandung by bank transfer, cryptocurrency, or cash. Proof of origin is not required.
Apartments prices in Bandung
The city consists of 30 administrative districts and more than 150 neighbourhoods. All these units are grouped into 8 urban sub-regions. For easy orientation, foreigners prefer to divide the city into 5 main directions: South, North, North-West, East, and Central.
The cost of local properties depends on the location of the residential complex, the availability of modern amenities, the type of accommodation, and its total area.
For example, in the Central area, a fully furnished residence of 73 m² with 2 bedrooms and 2 bathrooms is sold for $125,000. There are schools, retail outlets, restaurants, and cafes close to the apartment block.
Small studios can also be found in the city centre. A fully furnished studio of 36 m² costs $65,500.
In the northern neighbourhood, a flat with three bedrooms and an area of 126 m² can be purchased for $262,000. The property is located in a luxury residential complex with a swimming pool and other amenities; it also has a private lift, a maid’s room with a bathroom, modern finishes and furniture.
If you count the cost per square metre of living space in the above examples, it ranges from $1,700 to $2,000. The price of flats in Bandung is gradually changing, there are new developments under construction at favourable prices, and sellers make discounts to sell the properties faster. You can find properties available for sale with current prices in a separate catalogue on our website.
Investment apartments in Bandung
Buying an apartment in Bandung for investment is a promising option for capital owners. On average, the country’s economy is growing by 5% per year. The main driver is the development of the middle class. This group is expected to double in size by 2030. The growth of the middle class leads to a serious increase in demand and local property prices. Many analysts believe that Indonesia, with its growth rate, can repeat the history of China. In addition, the country is actively developing infrastructure, including the building of new airports, railways, and motorways. This also has a direct impact on the real estate market, as people are more willing to buy housing in areas away from the centre if there is a convenient transport system.
All this provides excellent opportunities for investors who can invest in houses and apartments in Indonesia today, when the market is still growing, and get a good income in the future. The average return on property in Indonesia is 5.75–8.6%, which is much higher than in most European countries. In some areas, it even exceeds 10% per annum.
Buying apartments in Bandung
Are you planning to buy a flat or a villa in Indonesia? Check out the catalogue on our website and choose suitable property options from a variety of current offers from real estate agencies, developers, and private individuals. For your convenience, you can view prices in different currencies. With the help of the filters, it is easy to select the necessary offer by property type, location, total area, price, and other parameters.
You can buy a flat in Indonesia, which is either move-in ready or still under construction. The latter are most favourable for investors who have time to wait a few years until the building is completed. Such housing can be resold afterwards with a profit, as the price at the stage of handover will increase by 30–60% of the original.
We are constantly updating our catalogue so you will always be aware of the latest offers and be able to choose the most interesting options in the growing Indonesian market for a future purchase.