Bali, with its stunning scenery, vibrant culture, and welcoming atmosphere, is not only a dream vacation destination but also an attractive place for long-term living. One of the key factors that make Bali appealing is its affordability compared to many Western countries. Whether you’re a digital nomad, retiree, or simply looking for a change of pace, understanding the cost of living in Bali is crucial for planning your move. Let’s dive into a detailed breakdown of the expenses you can expect when living in Bali in 2024.
Also read: Moving to Bali: A Guide for Expats’ Permanent Stay
Average Cost of Living in Bali
Living in Bali can be incredibly affordable, with monthly expenses for a single person typically ranging from $500 to $1,000 USD. This estimate includes accommodation, food, transportation, and basic necessities. However, the actual cost can vary depending on lifestyle choices, location, and personal preferences.
Accommodation Costs
Types of Accommodation
Bali provides a diverse array of accommodation options to fit various budgets and tastes. From budget guesthouses and hostels to luxurious villas and resorts, there’s something for everyone.
Long-Term Rentals vs. Short-Term Stays
For long-term stays, renting a house or apartment is usually more cost-effective. Monthly rent for a simple homestay can start at around $300, while a two or three-bedroom villa with amenities can cost between $700 and $1,500, depending on the location and quality.
Buying Property
If you’re considering buying property, it’s essential to work with a reputable real estate agent who understands the local market and legal requirements. Property prices can vary widely, with costs for a house or villa ranging from $100,000 to several million dollars.
Also read: Where to Stay in Bali: 14 Best Places for Tourists
Notes for Foreigners
Foreigners in Indonesia are unable to directly own land. Instead, they must utilize a foreign-owned company (PT PMA) registered with the Indonesian Investment Coordinating Board (BKPM).
Through PT PMA, they can acquire property under two titles: Right to Build (Hak Guna Bangunan/HGB) grants the right to construct buildings on leased land for up to 80 years, while Right to Use (Hak Pakai) allows the utilization of existing properties on land with a tenure of 25 years, renewable for up to 70 years.
Establishing a PT PMA in Bali entails numerous requirements and processes. To simplify the PMA registration and accelerate the property acquisition process in Bali, you can rely on InvestinAsia’s service. We offer PMA Services for Foreign Property Acquisition. Our team of professionals will guide you through the entire process, ensuring that no requirement is overlooked and that the registration proceeds seamlessly.
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Food and Dining
Local Cuisine Costs
Bali is renowned for its tasty and affordable local cuisine. Meals at small warungs (local eateries) start at around $1-2 USD. Traditional dishes like Nasi Goreng and Mie Goreng are not only tasty but also budget-friendly.
Western Dining Options
If you prefer Western-style dining, there are plenty of restaurants and cafes offering a variety of cuisines. Meals at these establishments typically cost between $5 and $15 USD.
Grocery Shopping and Home Cooking
Cooking at home can save money, with monthly grocery costs ranging from $100 to $300 USD, depending on your diet and shopping habits. Local markets provide fresh produce at more affordable prices than supermarkets.
Also read: 20 Best Food in Bali: A Guide to Exquisite Balinese Cuisine
Transportation Expenses
Motorbike Rentals
Motorbikes are a popular and economical mode of transportation in Bali. Monthly rentals range from $50 to $70 USD, with fuel costing around $3 per full tank.
Taxis and Ride-Hailing Apps
Taxis are convenient but can be more expensive. Using ride-hailing apps like Gojek and Grab is a cheaper alternative, with rides starting at around $1 USD.
Car Rentals and Drivers
If you prefer more comfort, hiring a driver with a car can cost around $450 per month. Car rentals without a driver are also available but come with additional costs and responsibilities.
Healthcare and Medical Insurance
General Healthcare Costs
Bali offers a range of medical facilities, from clinics to private hospitals. Basic doctor visits can be as low as $10, while more specialized care costs more. Having health insurance is recommended to cover unforeseen medical expenses.
Health Insurance Options
Health insurance plans can vary in cost, typically ranging from $500 to $8,000 per year, depending on the coverage. Comprehensive plans are recommended to ensure access to quality healthcare.
Also read: Bali Entry Requirements 2024: The Complete Guide
Utilities and Internet
Average Utility Bills
Monthly utility bills, including electricity and water, usually range from $50 to $200 USD, depending on the size of your home and usage.
Internet and Cable Costs
Internet costs around $20 to $50 USD per month, depending on the speed and plan. Cable TV packages start at approximately $35 USD per month.
Entertainment and Leisure
Activities and Attractions
Bali offers a plethora of entertainment options, from outdoor activities like surfing and hiking to cultural experiences like traditional dance performances. Prices for activities vary, with movie tickets costing around $2-5 USD and yoga classes starting at $10 USD.
Cost of Gyms and Fitness Centers
Gym memberships in Bali start at around $35 USD per month, offering access to modern facilities and fitness classes.
Also read: What is Bali known for?
Education Costs
International and Local Schools
Bali has a variety of educational institutions, including international and local schools. Tuition fees for international schools can be up to $10,000 per year, while local schools are more affordable.
Higher Education Institutions
For higher education, institutions like Udayana University offer various programs at relatively low costs compared to Western universities.
Visas and Legal Requirements
Types of Visas
Several visa options are available depending on the purpose and duration of your stay. For short visits, many nationalities can obtain a visa on arrival for up to 60 days. For longer stays, options include the social-cultural (B211) visa and the KITAS visa for residents.
Costs and Application Process
Visa costs vary, with a visa on arrival costing around $35 USD and more extended stay visas requiring additional fees and documentation.
For foreigners looking to handle visa and stay permit arrangements more easily, you can rely on Bali-Indonesia Visa Services from InvestinAsia. Our experienced professional team will assist you through the entire registration process.
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Taxes and Financial Considerations
Income Tax
Earnings in Bali are subject to Indonesian income tax. Rates and regulations can vary, so consulting a tax professional is advisable to ensure compliance.
Property Tax and Other Financial Obligations
If you own property in Bali, you’ll be subject to property taxes. Other financial obligations may include capital gains taxes and business-related taxes if you’re operating a business.
For foreigners who want to handle various tax reporting in Indonesia more easily, you can rely on Indonesia Tax Services from InvestinAsia.
Chat now for a FREE consultation with our tax experts!
Monthly Budget Examples
Budget-Friendly Lifestyle
A minimalist lifestyle can cost around $750 to $1,000 per month, including basic accommodation, food, and transportation.
Mid-Range Living Costs
For a more comfortable lifestyle with occasional dining out and leisure activities, a budget of $1,500 to $2,000 per month is reasonable.
High-End Living Expenses
If you prefer luxury living with high-end accommodation and frequent entertainment, your monthly expenses can exceed $3,000.
Also read: New Rules and Restrictions for Foreign Tourists in Bali 2024
Cost-Saving Tips
How to Live Affordably
- Choose local food over Western restaurants
- Rent motorbikes instead of cars
- Shop at local markets
- Negotiate prices when possible
Best Practices for Budgeting
- Track your expenses regularly
- Plan meals and cook at home
- Use ride-hailing apps for transportation
- Take advantage of free or low-cost activities
Living in Bali offers an affordable and enriching experience, with costs significantly lower than in many Western countries. Whether you’re looking for a budget-friendly lifestyle or luxurious living, Bali provides a range of options to suit your needs. By understanding the cost of living and planning accordingly, you can enjoy all that this beautiful island has to offer without breaking the bank.
FAQs
How much money do you need to live comfortably in Bali?
To live comfortably in Bali, a monthly budget of $1,500 to $2,000 USD is typically sufficient. This amount covers accommodation, food, transportation, and leisure activities, allowing for a balanced lifestyle without excessive luxury.
How much does a house in Bali cost?
The price of a house in Bali varies greatly depending on location, size, and amenities. Prices can range from $100,000 for a basic home to several million dollars for luxury villas in prime locations.
How much money do you need to retire in Bali?
Retiring in Bali can be quite affordable. A comfortable retirement might require a budget of $1,500 to $2,500 USD per month, depending on lifestyle and healthcare needs. It’s also important to consider visa and legal requirements for long-term stays.
Also read: How Much to Retire in Bali: Cost of Living and Other Expenses
Can you live off $1,000 a month in Bali?
Yes, it is possible to live off $1,000 a month in Bali, especially if you adopt a modest lifestyle. This budget would cover basic accommodation, food, transportation, and some entertainment, but might require careful budgeting.
What is the average salary in Bali?
The average salary in Bali is relatively low compared to Western standards, typically ranging from $200 to $500 USD per month for local workers. However, expatriates and skilled professionals often earn higher salaries.
Where is the cheapest place to live in Bali?
Cheaper places to live in Bali include areas like Gianyar, Singaraja, and Tabanan. These regions offer more affordable housing and lower overall living costs compared to popular tourist areas like Seminyak and Ubud.
What’s cheaper, Bali or Thailand?
Both Bali and Thailand offer affordable living, but Thailand is generally considered slightly cheaper overall. Cost differences can vary based on specific locations and personal lifestyle choices.
Is Bali cheap to buy property?
While Bali offers more affordable property options compared to many Western countries, prices have been rising due to demand. Property in less touristy areas is more affordable, but prime locations come with higher costs. Working with a reputable agent is crucial for navigating the market and legal requirements.
