Bali, Indonesia

Bali is the only location on this list where a foreigner cannot own land under any structure. Full title (Hak Milik) is reserved for Indonesian nationals. What remains is right of use (Hak Pakai), a long lease of 25–30 years with extension, or ownership through your own PT PMA company with a build right. These are standard, working constructions rather than loopholes — but each has a term and its own renewal conditions, and those, not the view, set what the asset is actually worth.

On nominee arrangements, where the property is registered to an Indonesian by private agreement: such a transaction is void in law and the buyer has no protection whatsoever. No yield calculation covers that hole.

The second thing to understand before any modelling: on Bali the return is produced by occupancy, not by the building. This is short-let with a management company, seasonal pricing and furniture that wears out — an operating business, not passive income. Comparing it directly with a Dubai long let is a category error.

The caveat: The remaining term matters more than the price: leases and use rights end, and that end sits inside your resale value.