The pandemic caused by COVID-19 has a massive impact on financial markets and the economy worldwide. In Indonesia, the government has decided to suspend its visa-on-arrival policy to curb the spread of the deadly Corona virus in the archipelago and this policy will effectively shut down the country’s tourism industry.
Now, the whole sector is wondering what will happen after the state of alarm and is the COVID-19 crisis also affecting the villa or holiday rental market? Are villa prices rising or falling due to this pandemic?
According to current information, the villa prices drop significantly from March 2020. Tourists and expats are now leaving Bali in droves over fears the airport will close and they will be stuck on the island for weeks or even months.
Some of the villas offering special price for long stay for the remaining guests that are still stuck in Bali and other villas decided to close their operational.
Bali is still relatively safe for the remaining people here. Medical workers are doing a good job of saving the lives of millions of people against COVID-19. The best you can do to prevent the spread of corona virus is to not risk yourself and other people from the virus by avoiding public places. But staying at private villas is still considered safe, a small treat for yourself in this isolation because we know you need more than you think. But still, don’t take your safety for granted and put yourself in a good hand by trusting us.
The Balinese have experienced economic calamity repeatedly in living memory: the Bali Bombings of 2002 & 2005, the Global Financial Crisis in 2009 and the Mount Agung volcanic eruption in 2017. On every occasion, tourists fled only to return in even larger numbers.
The operator/owner of villas and vacation homes rental in Bali should have taken advantage of the COVID-19 crisis to plan how they will deal with the coming months after the stoppage. The situation is absolutely exceptional, but it is not completely paralyzed, as there is still much we can work on to continue offering the best deal to our future guests.