Baliblog guide to current real estate: September 2007

Nick,

Appreciate you providing the status of current real estate projects in Bali. But your information for Tegal Cupek Villas is wrong. Firstly, these villas are freehold and secondly they are already completed. I would appreciate if you can correct your spreadsheet to reflect this.

If you received this information from another source I would also appreciate if you could let me know by private email so that I can ensure it is corrected there as well.

Many Thanks

Ismawati

[…] Original post by Nick    […]

On the spread sheet you have the Banjar listed. Pls remove since the GM Mr.Ketut Sugiarta has been arrested for fraud.

Thank You

Freehold
I wonder if ANY of these “developers” can explain that.

WTF: out of all the listings only one fraud case…
Just the tip of the iceberg

Freehold means Hak Milik or a freehold land certificate - which would imply that the current ownership status is freehold land, not leased land or Hak Guna Bangunan (Right to Build)or other form of land title - Easy to understand no ? - and not a misrepresentation of the facts and current legal status of the property for sale! Obviously if the property is bought by a corporate entity or a foreigner then they would have to decide what form to transfer the land into as these parties are not allowed to hold directly a hak milik or freehold title.

Not sure what the relevance of removing a project from a spreadsheet is if an employee has been arrested for fraud - this to my mind would not change the fact that a property is for sale.

Both of the above point to the fact that buyers of real estate anywhere should complete careful due diligence of what they are buying - regardless of whether investing or buying in Bali or any other country.

Not good that you are publishing something and not checking your facts