It is impossible to compare the Indonesian island Bali and Turkey for relocation purposes. The level of economy and overall indicators are incomparable.
Eat, pray, love VS live, relax, work
Low-rise, village-like, completely touristic and agricultural island washed by the water of the Japanese sea and Indian Ocean. Developed, powerful in all regards Turkey, 'the center of the world', washed by four seas, with industrialized megalopolises and suitable for life resorts which have all the necessary social infrastructure.
However, today, these two directions are often compared to one another when it comes to buying real estate. What are the differences when choosing property?
Long stay, relocation
Turkey grants citizenship when one buys real estate for the amount exceeding 400,000 dollars, while Indonesia does not. A resident permit can be received in both countries; in case of Bali, one can start this procedure remotely.
Price threshold
In both countries one can find property at relatively affordable prices, but this will be a different quality of the property. For example, a villa in a complex or a stand-alone villa with a pool will cost about 200,000 euros. The same square area will cost you 400,000 euros in Turkish Alanya.
What to do with the property?
When you buy a property under construction both in Bali and Turkey, it may bring significant profit after its resale, up to 30%.
Rent in Bali is in high demand and there is a shortage of offers and the prices are high. The real estate in Bali brings from 15% to up to 20% per annum when put up for rent depending on the proximity to the beach, the attractiveness of the location, concept, and the comfort level.
In Turkey, one can hope for at least 10% per annum and 15% in the best location, on the first line. The property in Bali will pay off more quickly, within 5 to 6 years, however, there is a nuance about this attractive capitalization factor.
Bali is rapidly developing in the field of tourism; a new airport is planned, which will increase the tourist tourists flow from 16 million to 32 million per year. Therefore, they will need a place to rent. This market will be developing while the number of offers is limited.
In Turkey, in Alanya, the tourists flow is also constantly growing, the Gazipasha airport is planned to be expanded. The demand for rent in Turkey is less and less seasonal as many choose to spend winter in Alanya and Antalya and move for permanent residence. There is always a stable demand for long-term rent, unlike in Bali.
Ownership
Real estate can be bought on lease, for 30 to 50 years, the options vary. This means you will have to re-sale it over time. There are no limitations in Turkey in terms of ownership period for real estate.
Purchase terms
Both in Turkey and Bali, you can buy real estate and pay in installments till the end of the construction. Bali may offer longer installment plans with lower down payment (from 30%). In Turkey, developers sell their properties in installments with a down payment of 50%.
Developers
It is a common practice in Bali to buy land on lease with a further extension of the lease period. It is significantly cheaper than land ownership. Many foreigners invest here in the construction of their projects. It is necessary to have an experienced real estate agent in Bali who clearly understands what object he or she offers to invest in to his or her client.
In Turkey, in the resort province of Antalya and for the most part of the country the major portion of the developers are Turkish citizens who lives where they build and value their reputation, they will not go away as their construction business is more than just money for them, it is their family business and social status.
Taxes
You will have to pay 4% from the real estate total price in Turkey, and 10% in Bali for residents (including resident permit holders) and 20% for non-residents. Basically, 'tourists' will have to pay more, as the real estate has a clear focus on recreation.
Conclusions:
Bali can be considered for profitable deals and profit, stable income from rent. It is the right option for those who compare foreign real estate from the point of profitability or looking for a summerhouse near the beach surrounded by unique nature. As for Turkey, while suiting these purposes as well, it is also perfect for permanent residence with a family offering opportunities of receiving education, medical care, the benefits of civilization, business founding, and job search in case of complete relocation. One can hope for the citizenship through either investments or extension of the resident permit as a homeowner or as a resident continuously working for 5 years, and after 8 years one can apply for an indefinite resident permit.