Beyond Bali: A New Real Estate Story in Indonesia
For many international investors, Bali was the gateway into Indonesia: a place where tourism, lifestyle and real estate all came together in one familiar name.
But over the last decade, Bali has changed. Prices have climbed, competition has intensified, and it’s harder to find that feeling of “getting in early”. As a result, more and more people are quietly asking the same question:
“If not Bali, where should I look next in Indonesia?”
This article is for those investors, people who still believe in Indonesia’s long-term story, but are now actively looking for an alternative to Bali real estate: somewhere with more scarcity, more space, and a different development philosophy.
Why Some Investors Are Looking Beyond Bali
Let’s be clear: Bali is not “over”. It remains a powerful global brand with deep tourism demand. But from an investment point of view, several trends are pushing thoughtful investors to look beyond it:
- Crowding and competition
In key areas, it’s harder to stand out. There are simply more villas, more operators, and more similar offerings fighting for the same guests. - Yield compression
As land and build costs have risen, yields on new projects often don’t look like the “Bali 10–15 years ago” story that people have in mind. - Lifestyle vs. portfolio balance
Some buyers already own a place in Bali and are now thinking about diversification: “I don’t need a second villa in Canggu. I’d rather a very different exposure somewhere else.” - Desire for authenticity and space
A growing segment of travellers and investors want quieter, more nature-focused destinations that feel less like mass tourism and more like a genuine place.
From this perspective, looking for a Bali real estate alternative is not an anti-Bali move. It’s a portfolio decision: a way to stay in Indonesia’s growth story while positioning yourself differently.
What Makes a Good “Alternative to Bali” Real Estate Market?
If you’re asking “Where should I invest instead of Bali?”, it helps to define what you’re actually looking for.
1. Long-term tourism story
You don’t just want a cheap piece of land; you want a place where tourism is growing in a healthy, sustainable way: nature, culture, experiences, not just mass arrivals.
2. Scarcity and controlled development
One reason early Bali investments performed so well is that key areas were limited and demand grew faster than supply. A true alternative should have:
- Natural or intentional limits on density
- Barriers to “copy-paste” overdevelopment
3. Realistic access
You don’t need an international airport next door, but you do want:
- A clear travel path (for example via Bali, Lombok or Jakarta)
- Reasonable travel times for your target guests
4. Entry price vs. maturity
A destination that’s too early may stay illiquid for a long time. One that’s too mature may already be priced like South Bali. A good alternative usually sits in the early-but-visible phase: people are talking about it, but it’s still far from saturated.
5. A clear narrative
“Next Bali” is a lazy label. The most interesting markets don’t try to be Bali 2.0; they build their own story:
- Eco-luxury
- Cultural immersion
- Surf and nature
- High-end, low-density retreats
This is where places like Lombok, Flores and Sumba come in.
