Thread: Economic Crisis, who thinks now is the time to be purchasing

Gilbert understood, yes my question was for residential reason.

Hi Chilli, i am in a similar situation as yourself, looking to buy in bali soon, however, i will not live there permenantly for a year or so. Are you able to buy with Hak Milik and have cash to do the deal? The world financial situation says cash is king at the moment so borrowing is out of the question.
I had a debate with balilife some time ago regarding the pros and cons of buying land and building, buying a new house or buying an older, solid house and renovating. At present i am leaning towards the latter, mainly as a cost thing and also i like to try my hand at such things :roll:
Try the website http://www.rumah123.com i have noticed lately there seems to be more of the older, lower priced properties on the market.
Good luck

Goldminer thanks, the one hiccup (i think Hinakos posted above) is that our AUD is low.
I was advised to buy Euro a year ago, but silly me didn't listen. :roll:

As far as the title, i have some information from Peter at Astroindo....

there are a few hurdles to jump which as Roy always stated with conviction, a foreigner cannot own in Bali. You are married to an Indo lady so you aren't in the same boat as I.

Thanks everyone for your replies.

:)

ok Chilli, your right about the aussie dollar, and i think it will drop even further yet :cry: However, even so, cash in the hand or in a Rudd guarenteed bank is going to be the key to survival in the next year or 2, also having a job, lots of miners being put off in west aussie as u probably know. Add the big losses in everyones superanution, and things arent looking too flash in aussie just now...
Not sure who Astroindo is/are, but Roy was right(as usual) about non indos owning land.

Goldminer,

Peter Johnson, he is an Australian lawyer, his office, AstroIndo in Kuta.
(incase you need one).

The rest, I agree with all you've said.

I think im better off keeping my investments in Oz and renting in Bali as things stand at the moment. 2009 will hold new surprises, i doubt we've seen the end of this economic tsunami.


when in doubt, dont, has become my new motto. :D

Chilli, thats a good motto to have at the moment... just before the crash, i got into Oz Minerals in a modest way, silly move , now every time i get the paper i just pass over the business section so i am not tempted to look/buy stocks :?
Renting perhaps is the go for you. This Peter guy, does he say there is a way around buying by foreigners in bali?