Hello, I’m Jason, a Business Journalist at Bukit Vista, and I recently had the privilege of witnessing an enlightening conversation between our CEO Jing Cho Yang and Pak Made, Director of KJPP, Indonesia’s certified property appraisal authority. This discussion revealed crucial insights about professional property appraisal that every Bali property owner and investor should understand
Understanding Indonesia's Property Appraisal or Valuation Framework
Unlike developed countries where comprehensive property transaction databases exist, Indonesia presents unique challenges for property appraisal. Pak Made explained that KJPP professionals must rely on three primary valuation approaches when market data is limited. The first method involves market comparison when equivalent properties are available. If market data is insufficient, appraisers examine income streams from similar properties to determine value. When neither approach is feasible, they calculate replacement costs for the property.
This systematic approach ensures that property appraisal remain grounded in reality, even in Bali’s dynamic and sometimes speculative market environment. The absence of standardized transaction records makes professional appraisal services even more critical for accurate property assessment. Watch the video above for the full explanation from the discussion between Jing, CEO of Bukit Vista with Director Made from KJPP.
🗒️ Read the transcript
🎙️ Part 1: Introduction & KJPP Authority
Jing: Welcome to this very special episode of the Bali Business Review. Today we have been waiting a long time to get special access to our distinguished guest, Director Made, who comes to us from the Kantor Jasa Penilai Publik, which is the KJPP in Indonesia. The purpose of bringing such an esteemed figure to the show is simply to get factual information to our audience about who is actually setting the prices for property in Bali.
Director Made: Thank you for having me. I am the owner of KJPP Sumerta dan Anang Rekan. We have established branches in Jakarta, Bekasi, East Java, and Mataram. In the near future, we will be opening three more branches in NTT, Balikpapan, and Medan.
Jing: For context, the KJPP in America would be equivalent to a certified appraisal firm, and in Australia, it would be similar to the Australian Property Institute. We found a senior official here in Indonesia from the equivalent authority that can help us answer critical questions about property valuation.
📊 Part 2: Valuation Methodology in Indonesia
Jing: Can you tell us about the method of valuation used to estimate the prices and value of villas in Bali? What is your methodology?
Director Made: In Indonesia, the method is different from other developed countries. The government does not prepare valid data for property transaction data like in developed countries. So our approach is based on data availability. First, if market data is available, we use the market approach. If the property market data is insufficient or unavailable, we move to the second step.
Director Made: We ask: Is this an income-producing property? If the property generates income and the data is complete, we use the income approach by analyzing expected income streams. If neither market data nor income data is available, we use the cost approach as our final method.
🏗️ Part 3: Key Factors Affecting Property Valuation
Jing: What are the main factors that affect the valuation of properties in the hospitality or tourism business?
Director Made: Properties are influenced by at least four fundamental factors. First is demand – the interest and purchasing power in the market. Second is utility – the property’s ability to generate income or satisfaction for the owner. Third is scarcity – if a property has good views or beach access, the scarcity level is high, making the property more valuable. Fourth is transferability – whether the property can actually be sold or bought.
Director Made: We also conduct what’s called Highest and Best Use analysis. The property with the highest value is the one that generates the highest income. This analysis has four parameters: it must be legally permissible, physically feasible, financially viable, and provide the highest return from available choices.
💰 Part 4: Income-Based Valuation & Platform Adjustments
Jing: Many owners reference their Airbnb, Booking.com earnings or asking prices from agents. How does your valuation method adjust for projected cash flow versus speculative pricing?
Director Made: When properties are marketed through agents or platforms like Booking.com, there are additional costs that must be calculated. We look at the net operating income after all costs are reduced, including direct and indirect costs, and the cost of filling rooms.
Director Made: If properties are affiliated with asset management, property management, or hotel brands, there are royalty payments that must be deducted. For example, a hotel paying royalties to brands like Ibis must have these percentages reduced from gross income. We separate these intangible assets from the actual property value.
🎯 Part 5: Market Reality vs. Speculation
Jing: In Bali’s inflated listing environment, how does the KJPP avoid being influenced by unrealistic market comparables and ensure valuations are grounded in reality?
Director Made: Many properties in Bali are still owned by original owners who inherited them, while others are managed by investors who bought expensively and sell based on their expectations. What’s often exaggerated are properties sold by investors or original owners working through investor arrangements.
Director Made: The KJPP verifies all comparison data received from suppliers or agents. We use several verification methods. First, appraisers act as potential buyers to verify actual transaction potential. For example, if a property is offered for 1 billion rupiah, we’ll ask if 700 million is acceptable, then 750 million, to find the real transaction potential.
Director Made: We collect extensive data and perform statistical analysis, choosing median values and identifying the mode that appears most frequently. We analyze mean, median, and average values to ensure the standard deviation between data points isn’t too extreme.
⚖️ Part 6: Independence & Neutrality
Jing: How do you ensure neutrality in valuations when multiple stakeholders like banks, developers, and owners have conflicting interests?
Director Made: Independence is the main key in maintaining valuation professionalism in Indonesia, along with integrity. We measure our independence from the moment we receive a job. If we’re certain we can be independent regarding an object – avoiding conflicts of interest with owners or other parties – then we proceed. If not, we don’t take the assignment.
Director Made: All evaluators in Indonesia send reports to the Ministry of Finance. Through government tabulation, values that aren’t independent can be identified because related properties are also valued by other KJPPs at different times. If values aren’t independent – whether too high or low – we’re subject to regulatory review.
📋 Part 7: Quality Control & Report Changes
Jing: What safeguards exist in your internal process to review and contest evaluations if new credible evidence is provided post-report?
Director Made: Changes to evaluation reports follow standard procedures in Indonesia. We submit new reports documenting changes from previous reports, including the old report number we’ve corrected with proper reasoning, stating that the old report no longer applies.
Director Made: Generally, report changes occur due to changes in report users or holder names, or when certificate copies provided weren’t the most recent. However, if someone requests value changes without new substantive information, this cannot be done.
🏛️ Part 8: Legal Applications & Authority
Jing: What types of official decisions such as loans, disputes, taxes, or mergers can legally rely on your KJPP evaluation?
Director Made: Evaluation reports are legal products that can be used for legal matters and decision-making, including litigation. The evaluation relationship with service users is contractual, with report purposes clearly stated – whether for debt guarantees, tax purposes, or court proceedings.
Director Made: When used for litigation or legal matters, there are usually additional costs because we must appear as witnesses to provide clarification. As long as evaluations follow Indonesian standards, all reports are legal products.
🔍 Part 9: Internal Quality Control Process
Jing: What internal quality control processes do you have before KJPP releases a report?
Director Made: The evaluation process begins with input data – market data, physical data, evaluation object data, and environmental data. After field surveyors input data from property inspections, they conduct analysis. This analysis is reviewed by office reviewers, then reviewed again by the public evaluator who will issue the report.
Director Made: Each level works separately, and results are matched with our office database. After sufficient analysis at each level, we request a barcode from the Ministry of Finance. Every report in Indonesia operates under Ministry of Finance supervision, ensuring both internal and external quality control.
🤝 Part 10: Public Service Mission
Jing: What do you wish every property owner understood about the purpose of professional evaluation that would make the experience more constructive?
Director Made: First, business owners need trustworthy valuations for bank guarantees, requiring fair appraisals rather than banks determining guarantee values themselves. Second, we protect the public when assets face foreclosure due to payment failures or other conditions, ensuring properties aren’t sold arbitrarily and people receive justice.
Director Made: Third, evaluators assist in rights distribution, whether between in-laws, spouses, or partners, ensuring each party receives justice based on their rights. The evaluator serves the public – we are professionals serving the public through the evaluation process.
🗒️Read the transcript
🎙️ Part 1: Introduction & KJPP Authority
Jing: Welcome to this very special episode of the Bali Business Review. Today we have been waiting a long time to get special access to our distinguished guest, Director Made, who comes to us from the Kantor Jasa Penilai Publik, which is the KJPP in Indonesia. The purpose of bringing such an esteemed figure to the show is simply to get factual information to our audience about who is actually setting the prices for property in Bali.
Director Made: Thank you for having me. I am the owner of KJPP Sumerta dan Anang Rekan. We have established branches in Jakarta, Bekasi, East Java, and Mataram. In the near future, we will be opening three more branches in NTT, Balikpapan, and Medan.
Jing: For context, the KJPP in America would be equivalent to a certified appraisal firm, and in Australia, it would be similar to the Australian Property Institute. We found a senior official here in Indonesia from the equivalent authority that can help us answer critical questions about property valuation.
📊 Part 2: Valuation Methodology in Indonesia
Jing: Can you tell us about the method of valuation used to estimate the prices and value of villas in Bali? What is your methodology?
Director Made: In Indonesia, the method is different from other developed countries. The government does not prepare valid data for property transaction data like in developed countries. So our approach is based on data availability. First, if market data is available, we use the market approach. If the property market data is insufficient or unavailable, we move to the second step.
Director Made: We ask: Is this an income-producing property? If the property generates income and the data is complete, we use the income approach by analyzing expected income streams. If neither market data nor income data is available, we use the cost approach as our final method.
🏗️ Part 3: Key Factors Affecting Property Valuation
Jing: What are the main factors that affect the valuation of properties in the hospitality or tourism business?
Director Made: Properties are influenced by at least four fundamental factors. First is demand – the interest and purchasing power in the market. Second is utility – the property’s ability to generate income or satisfaction for the owner. Third is scarcity – if a property has good views or beach access, the scarcity level is high, making the property more valuable. Fourth is transferability – whether the property can actually be sold or bought.
Director Made: We also conduct what’s called Highest and Best Use analysis. The property with the highest value is the one that generates the highest income. This analysis has four parameters: it must be legally permissible, physically feasible, financially viable, and provide the highest return from available choices.
💰 Part 4: Income-Based Valuation & Platform Adjustments
Jing: Many owners reference their Airbnb, Booking.com earnings or asking prices from agents. How does your valuation method adjust for projected cash flow versus speculative pricing?
Director Made: When properties are marketed through agents or platforms like Booking.com, there are additional costs that must be calculated. We look at the net operating income after all costs are reduced, including direct and indirect costs, and the cost of filling rooms.
Director Made: If properties are affiliated with asset management, property management, or hotel brands, there are royalty payments that must be deducted. For example, a hotel paying royalties to brands like Ibis must have these percentages reduced from gross income. We separate these intangible assets from the actual property value.
🎯 Part 5: Market Reality vs. Speculation
Jing: In Bali’s inflated listing environment, how does the KJPP avoid being influenced by unrealistic market comparables and ensure valuations are grounded in reality?
Director Made: Many properties in Bali are still owned by original owners who inherited them, while others are managed by investors who bought expensively and sell based on their expectations. What’s often exaggerated are properties sold by investors or original owners working through investor arrangements.
Director Made: The KJPP verifies all comparison data received from suppliers or agents. We use several verification methods. First, appraisers act as potential buyers to verify actual transaction potential. For example, if a property is offered for 1 billion rupiah, we’ll ask if 700 million is acceptable, then 750 million, to find the real transaction potential.
Director Made: We collect extensive data and perform statistical analysis, choosing median values and identifying the mode that appears most frequently. We analyze mean, median, and average values to ensure the standard deviation between data points isn’t too extreme.
⚖️ Part 6: Independence & Neutrality
Jing: How do you ensure neutrality in valuations when multiple stakeholders like banks, developers, and owners have conflicting interests?
Director Made: Independence is the main key in maintaining valuation professionalism in Indonesia, along with integrity. We measure our independence from the moment we receive a job. If we’re certain we can be independent regarding an object – avoiding conflicts of interest with owners or other parties – then we proceed. If not, we don’t take the assignment.
Director Made: All evaluators in Indonesia send reports to the Ministry of Finance. Through government tabulation, values that aren’t independent can be identified because related properties are also valued by other KJPPs at different times. If values aren’t independent – whether too high or low – we’re subject to regulatory review.
📋 Part 7: Quality Control & Report Changes
Jing: What safeguards exist in your internal process to review and contest evaluations if new credible evidence is provided post-report?
Director Made: Changes to evaluation reports follow standard procedures in Indonesia. We submit new reports documenting changes from previous reports, including the old report number we’ve corrected with proper reasoning, stating that the old report no longer applies.
Director Made: Generally, report changes occur due to changes in report users or holder names, or when certificate copies provided weren’t the most recent. However, if someone requests value changes without new substantive information, this cannot be done.
🏛️ Part 8: Legal Applications & Authority
Jing: What types of official decisions such as loans, disputes, taxes, or mergers can legally rely on your KJPP evaluation?
Director Made: Evaluation reports are legal products that can be used for legal matters and decision-making, including litigation. The evaluation relationship with service users is contractual, with report purposes clearly stated – whether for debt guarantees, tax purposes, or court proceedings.
Director Made: When used for litigation or legal matters, there are usually additional costs because we must appear as witnesses to provide clarification. As long as evaluations follow Indonesian standards, all reports are legal products.
🔍 Part 9: Internal Quality Control Process
Jing: What internal quality control processes do you have before KJPP releases a report?
Director Made: The evaluation process begins with input data – market data, physical data, evaluation object data, and environmental data. After field surveyors input data from property inspections, they conduct analysis. This analysis is reviewed by office reviewers, then reviewed again by the public evaluator who will issue the report.
Director Made: Each level works separately, and results are matched with our office database. After sufficient analysis at each level, we request a barcode from the Ministry of Finance. Every report in Indonesia operates under Ministry of Finance supervision, ensuring both internal and external quality control.
🤝 Part 10: Public Service Mission
Jing: What do you wish every property owner understood about the purpose of professional evaluation that would make the experience more constructive?
Director Made: First, business owners need trustworthy valuations for bank guarantees, requiring fair appraisals rather than banks determining guarantee values themselves. Second, we protect the public when assets face foreclosure due to payment failures or other conditions, ensuring properties aren’t sold arbitrarily and people receive justice.
Director Made: Third, evaluators assist in rights distribution, whether between in-laws, spouses, or partners, ensuring each party receives justice based on their rights. The evaluator serves the public – we are professionals serving the public through the evaluation process.
🗒️Read the transcript
🎙️ Bagian 1: Pengantar & Otoritas KJPP
Jing: Selamat datang di episode spesial Bali Business Review. Hari ini, kami akhirnya mendapat akses khusus ke tamu istimewa, Direktur Made, dari Kantor Jasa Penilai Publik (KJPP) di Indonesia. Tujuan menghadirkan sosok terhormat ini adalah untuk memberikan informasi faktual kepada audiens tentang siapa yang sebenarnya menentukan harga properti di Bali.
Direktur Made: Terima kasih telah mengundang saya. Saya adalah pemilik KJPP Sumerta dan Anang Rekan. Kami telah membuka cabang di Jakarta, Bekasi, Jawa Timur, dan Mataram. Dalam waktu dekat, kami akan membuka tiga cabang lagi di NTT, Balikpapan, dan Medan.
Jing: Untuk konteks, KJPP di Amerika setara dengan kantor penilai bersertifikat, dan di Australia mirip dengan Australian Property Institute. Kami menemukan pejabat senior di Indonesia dari otoritas setara yang bisa membantu menjawab pertanyaan penting tentang penilaian properti.
📊 Bagian 2: Metodologi Penilaian di Indonesia
Jing: Bisakah Anda jelaskan metode penilaian yang digunakan untuk memperkirakan harga dan nilai vila di Bali? Apa metodologinya?
Direktur Made: Di Indonesia, metodenya berbeda dengan negara maju. Pemerintah tidak menyiapkan data transaksi properti yang valid seperti di negara maju. Jadi, pendekatan kami berdasarkan ketersediaan data. Jika data pasar tersedia, kami gunakan pendekatan pasar. Jika data pasar tidak cukup, kami lanjut ke langkah kedua.
Direktur Made: Kami bertanya: Apakah properti ini menghasilkan pendapatan? Jika ya dan datanya lengkap, kami gunakan pendekatan pendapatan dengan menganalisis arus pendapatan. Jika tidak ada data pasar maupun pendapatan, kami gunakan pendekatan biaya.
🏗️ Bagian 3: Faktor Utama Penilaian Properti
Jing: Apa saja faktor utama yang memengaruhi penilaian properti di sektor perhotelan atau pariwisata?
Direktur Made: Ada empat faktor utama: permintaan (minat dan daya beli pasar), utilitas (kemampuan properti menghasilkan pendapatan atau kepuasan), kelangkaan (misal pemandangan bagus atau akses pantai), dan transferabilitas (apakah properti bisa dijual/beli).
Direktur Made: Kami juga melakukan analisis Highest and Best Use, yaitu properti dengan nilai tertinggi adalah yang menghasilkan pendapatan tertinggi. Analisis ini mencakup: legalitas, kelayakan fisik, kelayakan finansial, dan pengembalian tertinggi.
💰 Bagian 4: Penilaian Berbasis Pendapatan & Penyesuaian Platform
Jing: Banyak pemilik mengacu pada penghasilan Airbnb, Booking.com, atau harga dari agen. Bagaimana metode penilaian Anda menyesuaikan arus kas proyeksi versus harga spekulatif?
Direktur Made: Jika properti dipasarkan melalui agen atau platform seperti Booking.com, ada biaya tambahan yang harus dihitung. Kami melihat pendapatan operasional bersih setelah semua biaya, termasuk biaya langsung, tidak langsung, dan biaya pengisian kamar.
Direktur Made: Jika properti berafiliasi dengan manajemen aset atau merek hotel, ada pembayaran royalti yang harus dikurangi. Misal, hotel yang membayar royalti ke Ibis, persentase ini dikurangi dari pendapatan bruto. Aset tak berwujud ini dipisahkan dari nilai properti.
🎯 Bagian 5: Realitas Pasar vs. Spekulasi
Jing: Di Bali yang harga listing-nya sering melambung, bagaimana KJPP menghindari pengaruh data pembanding pasar yang tidak realistis dan memastikan penilaian tetap objektif?
Direktur Made: Banyak properti di Bali masih dimiliki pemilik asli atau investor yang membeli mahal dan menjual sesuai ekspektasi. Yang sering dilebih-lebihkan adalah properti yang dijual investor atau pemilik asli melalui skema investor.
Direktur Made: KJPP memverifikasi semua data pembanding dari pemasok atau agen. Kami menggunakan beberapa metode verifikasi, misal penilai bertindak sebagai pembeli untuk mengetahui potensi transaksi nyata.
Direktur Made: Kami mengumpulkan data luas dan melakukan analisis statistik, memilih nilai median dan modus yang paling sering muncul, serta memastikan deviasi standar antar data tidak terlalu ekstrem.
⚖️ Bagian 6: Independensi & Netralitas
Jing: Bagaimana Anda menjaga netralitas penilaian saat ada banyak pihak berkepentingan seperti bank, pengembang, dan pemilik?
Direktur Made: Independensi adalah kunci utama menjaga profesionalisme penilaian di Indonesia, bersama integritas. Kami mengukur independensi sejak menerima pekerjaan. Jika yakin bisa independen, kami lanjutkan. Jika tidak, kami tolak. Semua laporan penilaian dikirim ke Kementerian Keuangan untuk tabulasi dan pengawasan.
📋 Bagian 7: Pengendalian Mutu & Perubahan Laporan
Jing: Apa saja pengaman dalam proses internal Anda untuk meninjau dan menggugat penilaian jika ada bukti baru setelah laporan diterbitkan?
Direktur Made: Perubahan laporan mengikuti prosedur standar. Kami membuat laporan baru yang mendokumentasikan perubahan dari laporan sebelumnya, termasuk nomor laporan lama dan alasannya.
Direktur Made: Umumnya, perubahan terjadi karena perubahan pengguna laporan, nama pemegang, atau sertifikat yang belum terbaru. Jika ada permintaan perubahan nilai tanpa informasi baru yang substansial, itu tidak bisa dilakukan.
🏛️ Bagian 8: Aplikasi Hukum & Otoritas
Jing: Keputusan resmi apa saja seperti pinjaman, sengketa, pajak, atau merger yang bisa menggunakan penilaian KJPP secara legal?
Direktur Made: Laporan penilaian adalah produk hukum yang bisa digunakan untuk keputusan hukum, termasuk litigasi. Hubungan penilaian dengan pengguna jasa bersifat kontraktual, dengan tujuan laporan yang jelas.
Direktur Made: Untuk litigasi, biasanya ada biaya tambahan karena kami harus hadir sebagai saksi. Selama mengikuti standar Indonesia, semua laporan adalah produk hukum.
🔍 Bagian 9: Proses Pengendalian Mutu Internal
Jing: Apa proses pengendalian mutu internal sebelum KJPP menerbitkan laporan?
Direktur Made: Proses dimulai dari input data pasar, data fisik, data objek, dan lingkungan. Setelah survei lapangan, data dianalisis dan direview oleh reviewer kantor, lalu oleh penilai publik sebelum laporan diterbitkan. Setiap level bekerja terpisah dan hasilnya dicocokkan dengan database kantor. Setelah analisis cukup, barcode dari Kementerian Keuangan diminta. Semua laporan di bawah pengawasan Kementerian Keuangan.
🤝 Bagian 10: Misi Layanan Publik
Jing: Apa yang Anda harap setiap pemilik properti pahami tentang tujuan penilaian profesional agar prosesnya lebih konstruktif?
Direktur Made: Pertama, pemilik usaha butuh penilaian yang dapat dipercaya untuk jaminan bank, bukan nilai yang ditentukan bank sendiri. Kedua, kami melindungi masyarakat saat aset disita agar properti tidak dijual sembarangan dan masyarakat mendapat keadilan.
Direktur Made: Ketiga, penilai membantu pembagian hak, baik antar keluarga, pasangan, atau mitra, agar setiap pihak mendapat keadilan sesuai haknya. Penilai melayani publik melalui proses penilaian.
🗒️Read the transcript
🎙️ Partie 1 : Introduction & Autorité du KJPP
Jing : Bienvenue dans cet épisode très spécial du Bali Business Review. Aujourd’hui, nous avons enfin un accès privilégié à notre invité de marque, le Directeur Made, qui vient du Kantor Jasa Penilai Publik, ou KJPP en Indonésie. L’objectif est de fournir à notre public des informations factuelles sur qui fixe réellement les prix de l’immobilier à Bali.
Directeur Made : Merci de m’avoir invité. Je suis le propriétaire de KJPP Sumerta et Anang Rekan. Nous avons des succursales à Jakarta, Bekasi, Java Est et Mataram. Bientôt, nous ouvrirons trois autres succursales à NTT, Balikpapan et Medan.
Jing : Pour contexte, le KJPP aux États-Unis est l’équivalent d’un cabinet d’expertise agréé et en Australie, il est similaire à l’Australian Property Institute. Nous avons trouvé un haut responsable en Indonésie qui peut nous aider à répondre aux questions cruciales sur l’évaluation immobilière.
📊 Partie 2 : Méthodologie d’Évaluation en Indonésie
Jing : Pouvez-vous nous expliquer la méthode d’évaluation utilisée pour estimer les prix et la valeur des villas à Bali ? Quelle est votre méthodologie ?
Directeur Made : En Indonésie, la méthode diffère des pays développés. Le gouvernement ne prépare pas de données valides sur les transactions immobilières comme dans les pays développés. Notre approche dépend donc de la disponibilité des données. Si des données de marché existent, nous utilisons l’approche du marché. Si les données sont insuffisantes, nous passons à la deuxième étape.
Directeur Made : Nous demandons : le bien génère-t-il des revenus ? Si oui et que les données sont complètes, nous utilisons l’approche par les revenus en analysant les flux de revenus attendus. Si aucune donnée n’est disponible, nous utilisons l’approche par les coûts.
🏗️ Partie 3 : Facteurs Clés Affectant l’Évaluation
Jing : Quels sont les principaux facteurs qui influencent la valorisation des biens dans le secteur de l’hôtellerie ou du tourisme ?
Directeur Made : Les biens sont influencés par au moins quatre facteurs fondamentaux : la demande (intérêt et pouvoir d’achat sur le marché), l’utilité (capacité du bien à générer des revenus ou de la satisfaction), la rareté (vue, accès à la plage, etc.), et la transférabilité (possibilité de vendre ou d’acheter le bien).
Directeur Made : Nous réalisons également une analyse de l’Utilisation la Plus Élevée et Meilleure (Highest and Best Use). Le bien ayant la valeur la plus élevée est celui qui génère le plus de revenus. Cette analyse repose sur quatre critères : légalité, faisabilité physique, viabilité financière et rendement maximal.
💰 Partie 4 : Évaluation Basée sur les Revenus & Ajustements de Plateforme
Jing : De nombreux propriétaires se réfèrent à leurs revenus Airbnb, Booking.com ou aux prix demandés par les agents. Comment votre méthode ajuste-t-elle les flux de trésorerie projetés par rapport aux prix spéculatifs ?
Directeur Made : Lorsque les biens sont commercialisés via des agents ou des plateformes comme Booking.com, des coûts supplémentaires doivent être pris en compte. Nous examinons le revenu net d’exploitation après déduction de tous les coûts, y compris les coûts directs, indirects et le coût de remplissage des chambres.
Directeur Made : Si les biens sont affiliés à une gestion d’actifs ou à une marque hôtelière, les paiements de royalties doivent être déduits. Par exemple, un hôtel payant des royalties à Ibis doit soustraire ce pourcentage du revenu brut. Nous séparons ces actifs incorporels de la valeur réelle du bien.
🎯 Partie 5 : Réalité du Marché vs. Spéculation
Jing : Dans un environnement où les prix affichés à Bali sont souvent gonflés, comment le KJPP évite-t-il d’être influencé par des comparables irréalistes et garantit-il des évaluations ancrées dans la réalité ?
Directeur Made : Beaucoup de biens à Bali appartiennent encore à des propriétaires d’origine ou à des investisseurs qui ont acheté cher et vendent selon leurs attentes. Les prix exagérés concernent souvent les biens vendus par les investisseurs ou les propriétaires initiaux via des montages d’investisseurs.
Directeur Made : Le KJPP vérifie toutes les données de comparaison reçues des fournisseurs ou agents. Nous utilisons plusieurs méthodes de vérification, par exemple, les évaluateurs agissent comme des acheteurs potentiels pour vérifier le potentiel de transaction réel.
Directeur Made : Nous collectons de nombreuses données et effectuons une analyse statistique, choisissant les valeurs médianes et la mode la plus fréquente, et nous nous assurons que l’écart-type entre les points de données n’est pas trop extrême.
⚖️ Partie 6 : Indépendance & Neutralité
Jing : Comment garantissez-vous la neutralité des évaluations alors que de multiples parties prenantes comme les banques, les promoteurs et les propriétaires ont des intérêts divergents ?
Directeur Made : L’indépendance est la clé du professionnalisme dans l’évaluation en Indonésie, avec l’intégrité. Nous évaluons notre indépendance dès la réception d’une mission. Si nous sommes certains de pouvoir rester indépendants, nous poursuivons. Sinon, nous refusons la mission. Tous les rapports sont transmis au Ministère des Finances pour contrôle et supervision.
📋 Partie 7 : Contrôle Qualité & Modifications des Rapports
Jing : Quelles sont les garanties dans votre processus interne pour revoir et contester une évaluation si de nouvelles preuves crédibles sont fournies après le rapport ?
Directeur Made : Les modifications suivent une procédure standard. Nous soumettons un nouveau rapport documentant les changements par rapport au précédent, en mentionnant le numéro du rapport corrigé et la raison.
Directeur Made : Généralement, les modifications interviennent en cas de changement d’utilisateur ou de titulaire du rapport, ou si les copies des certificats n’étaient pas à jour. Si quelqu’un demande un changement de valeur sans nouvelle information substantielle, cela n’est pas possible.
🏛️ Partie 8 : Applications Légales & Autorité
Jing : Quels types de décisions officielles (prêts, litiges, impôts, fusions) peuvent légalement s’appuyer sur votre évaluation KJPP ?
Directeur Made : Les rapports d’évaluation sont des produits légaux pouvant être utilisés pour des décisions juridiques, y compris les litiges. La relation entre l’évaluateur et le client est contractuelle, avec des objectifs de rapport clairement définis.
Directeur Made : Pour les litiges, il y a généralement des frais supplémentaires car nous devons comparaître comme témoins. Tant que les évaluations respectent les normes indonésiennes, tous les rapports sont des produits légaux.
🔍 Partie 9 : Processus de Contrôle Qualité Interne
Jing : Quels sont vos processus internes de contrôle qualité avant la publication d’un rapport KJPP ?
Directeur Made : Le processus commence par la collecte de données de marché, physiques, sur l’objet et l’environnement. Après l’inspection sur le terrain, les données sont analysées et revues par des réviseurs internes, puis par l’évaluateur public avant la publication du rapport. Chaque niveau travaille séparément et les résultats sont comparés à la base de données. Après analyse, un code-barres du Ministère des Finances est demandé. Tous les rapports sont sous la supervision du Ministère.
🤝 Partie 10 : Mission de Service Public
Jing : Que souhaitez-vous que chaque propriétaire comprenne sur l’objectif de l’évaluation professionnelle pour rendre l’expérience plus constructive ?
Directeur Made : Premièrement, les propriétaires ont besoin d’évaluations fiables pour les garanties bancaires, et non de valeurs fixées par les banques. Deuxièmement, nous protégeons le public lors de saisies pour garantir que les biens ne soient pas vendus arbitrairement et que la justice soit rendue.
Directeur Made : Troisièmement, les évaluateurs aident à la répartition des droits entre familles, conjoints ou partenaires afin que chacun reçoive justice selon ses droits. L’évaluateur sert le public à travers le processus d’évaluation.
Key Factors Influencing Bali Property Values
Professional property appraisal in Bali considers four fundamental factors that directly impact market value. Demand represents the intersection of buyer interest and purchasing power in the market. Utility measures the property’s ability to generate income or satisfaction for owners, particularly important for hospitality properties in Bali’s tourism-driven economy.
Scarcity plays a crucial role, especially for properties with exceptional features like ocean views or prime beach access. Properties with high scarcity levels command premium valuations due to their irreplaceable nature. Transferability ensures the property can be legally sold or transferred, which affects its marketability and ultimate value.
Location analysis incorporates these factors through the “highest and best use” methodology. This approach evaluates legal permitting, physical feasibility, economic viability, and maximum productivity potential to determine optimal property utilization and corresponding value.
Combating Market Inflation and Speculation with Property Appraisal Professionals
Director Made reveals sophisticated verification methods KJPP employs to counter Bali’s inflated listing environment. Appraisers often pose as potential buyers to test actual selling prices versus advertised listings, discovering significant gaps between asking prices and negotiable values. This undercover approach reveals that properties listed at 1 billion rupiah often accept offers at 700-750 million rupiah, exposing the artificial inflation present in many listings.
KJPP as property appraisal, collects extensive comparable data and applies statistical analysis to identify median values while filtering out extreme outliers. By analyzing mean, median, and mode values across large datasets, appraisers establish valuations grounded in actual market behavior rather than speculative pricing. This methodology protects clients from overpaying for properties based on inflated market expectations.
The verification process includes cross-referencing multiple data sources and conducting physical inspections to ensure accuracy. KJPP’s systematic approach eliminates the emotional and speculative elements that often drive property pricing in tourist markets like Bali, providing objective valuations based on measurable criteria.
Conclusion: Restoring Trust Through Professional Appraisal Standards
The market approach’s reliance on verified transactions counters inflated listing prices, while the income approach’s focus on net operating income filters out unrealistic revenue projections. Even the cost approach, though a last resort, ensures no property operates in a valuation vacuum. Combined with rigorous checks against demand, utility, scarcity, and transferability, these methods create a holistic assessment system that aligns prices with measurable economic realities.
For Bali’s property owners and investors, embracing professional valuation isn’t just about compliance—it’s a strategic move toward long-term market stability. As Made emphasizes, KJPP’s work protects public interests while empowering owners to leverage accurate data during sales, partnerships, or expansions. In an era where Bali’s global appeal attracts both opportunity and opportunism, these standards offer a roadmap to sustainable growth—one where trust in pricing becomes the foundation for every transaction.
Learn directly from the minds shaping Bali’s property market.
Watch the video below or explore more expert interviews on Bali Business Review.
Take the First Step to Joining Our Community, Book Your Seat at Our Round Table Talk Today!
At Bukit Vista, we believe in creating lasting partnerships that help nagivate your property to the top 1% in this competitive season. Join us to discover how we can work together.