Living in Bali vs Australia: Real Housing Costs and Lifestyle Trade-Offs
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What are the current housing affordability pressures in Australia?
It's the Real Estate Podcast, brought to you by ANZ Home Loans for financial well-beings. Hey, welcome back to the Real Estate Breakfast, breaking down for you the Australian property market. And a reminder, our email address, we love getting those emails. It might have a question attached or you might just be telling us where in the world you are listening to us from. It is myrealestatepodcast at gmail.com. Wow, look at that. We are into double figures for February. February the 10th. It is a Tuesday morning. Capital gains tax. Love them or hate them, they are a talking point. And back in late 2024, right in the middle of election noise, Treasury quietly crunched the numbers on trimming capital gains tax breaks.
It leaked, it got brushed off, and everybody moved on. Well, so we thought. Now it's resurfaced again ahead of the May budget. Nothing is confirmed, but the signal's pretty clear. With housing affordability and generational inequality front and centre, tax settings that heavily favour investors are back under the microscope. it is definitely a wait and watch the space. If you don't want to wait and feel like a complete change, maybe something tropical could be what you're looking for, especially with the ongoing cost of going into the supermarket every week. Let's take you right now to Bali and catch up with Nathan Ryan from Bali Realty. And good morning to you, Ryan. Welcome to the Real Estate Breakfast.
You know, this is the very first time we have in all the years that we've been operating spoken to anybody in Bali. So my first question is, you're an Aussie. How did you come to be there?
Good morning, Craig. Good question. I've always been in the real estate industry in Sydney, Australia. And in 2009, we were offered an opportunity to project sales to large projects here in Bali. My father was already here at the time. And we felt an opportunity to take the family and move to Bali. And we've been here ever since.
I want to talk to you about the inquiries because, you know, in these current set of conditions, as I talked about heading into the supermarket, the cost of living is extreme. We all live in it. Has that made the inquiry rate head upwards? Give us a flavour on what is happening in Bali from Aussie inquiries.
I think, Craig, over the last 18 months, the increasing costs in Australia are certainly impacting buyers. We get inquiry from families looking to move to Bali to have a seat change. We're definitely seeing an increase in inquiry from retirees who think it's much more affordable to live in Bali, especially from Perth and the west coast of Australia, and also investors that are looking for greater returns than are available than from residential property back home. So, yeah, the inquiry from Australia is certainly very strong.
It's a big diff though, isn't it? Big difference from talking about moving offshore and actually doing it. So you must talk to a lot of people. They're sort of enticed because of the pricing, and we'll get to those prices in just a moment. But out of 10, you're probably what? 50% of them are not thinking about it. Is it only a 20% strike rate?
Yeah, good question. I think a lot of people come to Bali for sometimes a long holiday or those that have been coming here for many years in a row and start to dream of having a property in Bali. It's a nice dream, but I would say the conversion rate would be more like 10 to 20% of Aussies that actually go ahead and make the move or purchase that investment property. So it's still a bit of a pipe dream for most Australians, but I think it's becoming more and more reality also for a lot of Aussies back home.
Before we get to the pricing, let's just look at the cost of living. How much cheaper is it in terms of going into the supermarket? You've got schooling for the kids, potentially, if you're taking kids there. Every other aspect of sort of daily life and that whole cost factor, excluding buying a property, how does that compare these days to Australia?
I think certainly groceries are cheaper than back home.
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