Bali leads the way in Asia Pacific villa rental market
Indonesia’s island hotspot Bali remains the frontrunner as Asia Pacific’s major market for private villas.
The Bali market, with more than 4,000 villas is becoming somewhat oversaturated, which is reaping benefits for holiday makers, according to the latest market report by Singapore based Villa Finder. The market has grown more than one-third in the past two years which has seen average rates fall by 10% to US$220 per night.
Villa Finder estimates the Bali market has grown 18% since 2017, generating about US$162.5 million annually.
In the same period the overall Asia Pacific villa rental market grew 12% in what is now a US$440 million industry.
China is the top source market for Bali villa holidays, presenting nearly a quarter of all stays, and leapfrogging Australia (at 19%).
According to Villa Finder, the biggest growth recorded was Goa at 23%, followed by Sri Lanka, which also saw the number of villas increase by 25%.
Australia as a villa rental market is also fast developing, with destinations such as Sydney and Byron Bay posting increases of 33% and 30% respectively.
Other destinations increasingly in demand include Japan, New Zealand, Vietnam, and Malaysia.
Thailand isn’t faring so well with declines across most markets despite villa supply still growing.
A downturn in the China market and a strong Thai Baht has impacted the traditionally strong markets of Phuket, Pattaya and Koh Samui.
All saw double digit occupancy rate declines while occupancy in Hua Hin fell 54%.
Every single Asia Pacific market has increased the number of villas since Villa Finder’s last market report was published in 2017.
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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