Friday, April 3, 2009

There's gold in them thar hills ...

... around Banjar where I'll be heading tomorrow. Back in 2006 when it seemed that we had found a buyer for "Riverbend", I searched the net for Bali properties and came up with a little beauty, a Hillside Hotel in the Banjar Hills in North Bali. I came across it again when I was looking for hotel accommodation in Bali - and there it was again! I contacted the new owner to book a bungalow for five nights at the amazingly low price of 600,000 rupiah (approx. AUS85). I told him that I had had an eye on the same property some 2-1/2 years ago which is when he had bought it - at the bargain-basement price of AUS$150,000! Good luck to him! It proves yet again how important it is to be in the right place at the right time!

P.S. Foreigners are not allowed to own real estate in Indonesia. While various schemes have been devised to get around this, none are without danger as this article testifies: Bali Villas Real Estate Fraud.