The Indonesian island of Lombok is coming out of the shadows, emerging as a cooler, less commercial and more alluring alternative to Bali.
New developments are springing up, taking advantage of the idyllic island appeal and growth in the travel, second home, weekend retreat and lifestyle markets.
Lombok is also just a two-and-a-half-hour direct flight from Singapore.
The newest launch that’s set to tempt Singapore-based investors is Mandalika View by Private Sanctuary, a Hong Kong-based real estate agent.
Located in Kuta on Lombok’s south coast, the project is backed by the Indonesian government and comprises 17 plots ranging from 1,184 to 2,432 sqm. Owners can choose to build two- to five-bedroom villas on the site.
Plot prices range from US$96,000 to US$199,350 and the villas cost an additional US$165,000 for a two-bedder up to US$380,000 for a five-bedder.
Current pricing rates on the island are one-tenth of Bali’s rates with substantial market value increases expected over the next three to five years, revealed Private Sanctuary.
The firm will be responsible for the design, project management, construction and operation of the villas.
Mandalika View is only 20 minutes’ drive from the airport and is adjacent to The Mandalika Resort, a future sustainable resort complex featuring high-end hotels, a marina, golf course and convention centre.
Image: Mandalika View villa perspective. (Photo by Private Sanctuary)
Romesh Navaratnarajah, Singapore Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
