| From Businessspectator.com.au: Australian villa owners say Bali's property market is more resilient than that in their own country, as the global financial crisis worsens. The island's villa market has experienced exponential growth in recent years amid record tourism numbers, with villas in prime locations going for up to $US3 million ($A4.62 million) off-the-plan.
Asia-based expatriates seeking a holiday home cum rental property have driven the buying. With foreigners banned from bank financing, they pay cash, giving Bali some
insulation from the credit crunch hurting other markets, property agents said. .... Full Article: Source
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