LUX Property Group Expands Pipeline With New Lombok City Project and Hundreds of Millions in Land Inventory
In the fast-growing Southeast Asian property market, LUX Property Group says it has now reached a scale that allows it to offer deals rarely seen in traditional real estate markets.
Following the securing of land for its newest Lombok development, Gesara Bay City, the company says it now controls a substantial pipeline of projects across Indonesia.
This new project will sit alongside its flagship development Nesara Bay City, as well as four other projects across Bali already within the LUX portfolio.
According to the company, the combined land holdings now represent more than AUD $250 million in retail land value, giving the developer enough inventory to continue selling property for the next five years.
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A Growing Land Bank
Property developers often rely on constant land acquisition to maintain project pipelines. LUX says its current position is different.
With multiple estates already secured across Bali and Lombok, the developer claims it now has a deep land bank, which significantly lowers its cost base.
This, the company says, allows it to offer property at prices that would be difficult for many smaller developers to match.
With land costs already absorbed and infrastructure planning underway across several estates, LUX says it can structure wholesale-style pricing and promotional incentives to attract early buyers into new villa launches.
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The Launch of Villa Amani
One example highlighted by the company is the recent launch of Villa Amani, a bamboo-inspired luxury villa designed for tropical living.
Comparable bamboo-style villas currently selling in Lombok by other developers are reportedly priced at over AUD $300,000.
However, LUX released Villa Amani at a wholesale developer price of AUD $199,000.
Early buyers received an even larger incentive.
Initial launch buyers were reportedly able to purchase the villa for just AUD $119,000, representing a discount of more than $180,000 compared with similar villas currently selling in Lombok.
According to LUX, offering substantial discounts to early buyers is part of its strategy when launching a new project or villa design.
The company says early supporters help provide momentum for new estates and are therefore rewarded with the largest discounts.
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Indonesian Property vs Australian Prices
For many Australian investors, the contrast between Indonesian property prices and major Australian cities is dramatic.
In cities such as Sydney, Melbourne, Perth, Brisbane, Adelaide, and Darwin, buyers are often facing record property prices where even a six-figure sum may not cover the deposit on an average home.
By comparison, LUX says buyers can secure an entire tropical villa or apartment in Indonesia for a fraction of that cost.
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Deposit Grants and Entry-Level Apartments
Another incentive currently offered by the developer is its AUD $35,000 deposit grant program.
The grant can be applied toward the purchase of studio apartments priced from AUD $99,000, which are delivered fully furnished.
When the grant is applied, buyers may be able to acquire the apartment for approximately AUD $64,000.
Converted into U.S. dollars, this represents roughly USD $40,000 for a completed tropical apartment.
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Visiting the Projects
LUX also encourages prospective buyers to visit the sites in Bali and Lombok.
To assist with this, the developer offers a $500 accommodation credit for visitors who wish to stay in one of its villas while inspecting projects and development locations.
More information about the projects, deposit grants and property availability can be found at:
* nasarabaycity.com
* balifreereport.com
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Lombok’s Emerging Property Market
Lombok, located just east of Bali, is increasingly attracting international investors and developers who see the island as the next major tourism and lifestyle destination in Indonesia.
With rising tourism numbers, expanding infrastructure and increasing interest from expatriate buyers, developers such as LUX are positioning themselves early to capitalise on what they believe could become one of Southeast Asia’s most significant emerging property markets.
If LUX’s land pipeline and pricing strategy deliver as planned, the company says it expects strong demand from buyers looking for lifestyle property at prices far below those found in major Western markets.
🌴 In a world where property prices in major cities keep climbing ever higher, the idea of securing a tropical villa like Villa Amani for the price of a modest deposit back home is proving hard for many investors to ignore.