Lombok Market Overview
In expanded terms Lombok’s real estate storyline is still at a relatively early stage of development. Most transaction activity has historically been aimed at either greenfield sites which would emerge as hotel assets or else land banking.
There has been a decided disconnect over a long-established policy of the Indonesian government to establish and implement a tourism economy to the island, and the public sector which has failed to step up to the plate and invest. During this period, land speculation raged in areas such as Senggigi and the West facing coastline.
Despite government led master planned initiatives under BTDC (Bali Tourism Development Corporation) and LTDC (Lombok Tourism Development Corporation), these ultimately failed to take root. In the period after the Bali bombings, with tourism gearing up in South Bali, Lombok failed to capture the imagination of investors.
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