Beachside and resort properties in Asia have 'enormous potential'
Bali is the only regional representative in the top 10, writes Peta Tomlinson
Every beach worth its salt has sun, sand and surf. Most are good enough to visit, but you wouldn't necessarily want to invest there without a compelling argument.
So where are the beach resort hot spots that tick enough boxes to convince an overseas property investor? We looked around the region to find out.
Bali, the leading Asian second-home market, was a standout performer of 2014, with luxury prices up by 15 per cent year-on-year, according to Knight Frank's Wealth Report. Its methodology shows the resort island is going against the tide of a region-wide slowdown: Asia had four top-10 markets in last year's rankings, now Bali is the solitary regional representative.
Based on last year's online viewings of island-based properties via Knight Frank's website, Bali was one of the top three globally - alongside Ibiza and Barbados. The report found that buyers appear increasingly attracted to tight planning restrictions, "and even some outright building moratoriums, which is making an island property in many locations a rare commodity".
For foreigners, buying property in Bali might be about to get a whole lot easier. The Indonesian government is reportedly close to finalising a regulation that would allow foreigners to own apartments after President Joko Widodo approved the proposal in principle.
A list of uber-luxe resort locations, produced late last year by Savills and Candy & Candy, ranked Pangkor, Malaysia, Koh Samui in Thailand, and Australia's Whitsundays among the top-10 leisure islands where ultrahigh-net-worth individuals (UHNWIs) own a second home.