Word: balies
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...presage a price correction in paradise? Surely, as hedge-fund managers find themselves without fat end-of-year bonuses because of the recent market madness, they'll shy away from acquiring luxury second homes. Gallmann of Exotiq Real Estate acknowledges that the financial crisis will dent demand, particularly in Bali where the real estate volume is higher than in Phuket. But he isn't too worried. "Look, I've been involved with Bali for 20 years and through that time we've gone through more than you can imagine, from the Asian financial crisis and a political revolution to SARS...
...Oceans Apart Despite the seeming similarities - balmy islands in Southeast Asia with international airports, abundant marine life and plenty of cafés serving espresso and freshly baked croissants - Bali and Phuket offer vastly different real estate experiences. First off, Bali is much cheaper than Phuket. Because the Indonesian island is so much larger than its Thai counterpart, Bali offers a wider diversity in terms of topography: verdant rice paddies, soaring volcanoes and several distinctive urban centers. The Indonesian island cherishes its deep cultural roots, with traditions interwoven into daily life, not manufactured for some cheesy ethnic show...
...husband and I chose Bali because we like things a little messy. We're both journalists who enjoy chatting with the shaman, exploring bumpy back-country lanes and trying spicy stews at the open-air restaurant a few rice paddies away from our land. But I recognize that not everyone finds charming the idea of a spirit tax - a contribution to the village partly based on how many spirits reside on your land, and a calculation, mind you, that can only be made by the village elders. Indeed, if you're looking for a stress-free condominium with access...
...came into its heyday in the 19th century when Chinese tin miners exploited its mineral-rich hills. Later, fortunes were made in rubber trees. The island's main city was originally inland from the Andaman Sea to distance itself from possible devastation by tsunamis or typhoons. So, too, in Bali, where the rich cultural legacy of the Hindu Majapahit culture drew bohemian Western visitors in the 1930s who were mystified as to why most Balinese turned their backs on the lovely beaches, even forsaking fish from their normal diets. (The answer was, in part, because the coasts are considered...
...1970s, though, Bali and Phuket were inundated by foreigners searching for unspoiled hideaways. Tourism soon dominated other industries, with hotels and nightclubs lining once empty beaches. By the 1990s, as overworked Hong Kong investment bankers and Europeans priced out of the Mediterranean real estate market began looking for getaway-home alternatives, the residential property markets in Bali and Phuket began to sizzle. On the Indonesian island, vacation homes mostly take the form of individually constructed villas or those built by smaller developers. The houses, usually designed in a Bali modern style that is now an architectural touchstone for tropical hotels...