They are the Aussies riding the post-Covid property wave all the way to Bali, cashing in on cheaper construction costs, better returns, and a highly Instagrammable location.
Australia’s high interest rates and house prices have driven a host of homeowners and property developers to the booming international travel destination in recent years, with rice paddy fields making way for apartment blocks.
Former top DJ and Melbourne nightclub operator Simon Digby sold his waterfront Mornington Peninsula holiday home just last month as he watched the auction from Indonesian party island.
DJ and club owner Simon Digby and his wife Cristina have moved to Bali from Melbourne. Picture: David Caird.
Further Hotel in Bali. Images: Supplied
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After years spinning the decks at raves and on tours alongside the likes of Armand Van Helden, Jeff Mills and Adam Beyer, Digby has pulled up stumps in Australia and relocated to Bali, where he is spearheading the development of luxury resort, Further Hotel in Pererenan, near Canggu.
He follows in the footsteps of the founder of creative design agency, Peppa Hart, Sophie Bell and her husband, Michael, who sold their Tweed Heads house in 2022 to move to Bali, where they have built a luxury accommodation offering called Casa La Playa.
Sophie Bell from Peppa Hart now lives in Bali where she has built luxury holiday accommodation.
Bali home under construction by Sophie and Michael Bell pls, Casa La Playa in Bali. Source: Instagram
Gold Coast designer Emma Sweeny, who runs Project E, took her creative prowess from Burleigh to Bali after the whirlwind renovation and sale of Ruin X — an all-rendered house in Burleigh Heads that attracted national headlines for its quirkiness.
Ms Sweeny, with two business partners, is building four luxury three-storey villas in Bali’s Padang Hills, complete with their own pools and rooftop terraces, and has just bought more land for future development.
“I knew I could do so much more in Bali with the building prices being cheaper than in Australia, so I jumped on the bandwagon and haven’t looked back since,” she said.
“It is becoming such a hot spot and the construction and development world is booming.”
Gold Coast building designer Emma Sweeny has invested in property in Bali.
Emma Sweeny’s Bali project.
With foreigners largely barred from buying land in Bali, villas sell as long-term leases, usually between 25 and 50 years, with the land returning to an Indonesian owner at the end — albeit with units on it.
A building boom is seeing many farmers sell or lease their land for villas to accommodate the new wave of tree changers and digital nomads from abroad.
Real Estate Institute of Australia president Leanne Pilkington last year purchased a $350,000 leasehold on a four-bedroom Bali villa that’s under construction.
The leasehold means she will be permitted to reside or visit across a 26-year period.
Real Estate Institute of Australia president Leanne Pilkington recently bought property in Bali.
“We always joked about retiring to Bali and I said that I didn’t want to live there permanently, but would be happy to live there for a few months of every year,” Ms Pilkington said.
Gold Coast building designer Jayson Pate has several clients who are building in Bali.
“With land and construction costs being so incredibly high, it’s probably pushing some people to look to invest elsewhere,” he said.
“There are now enough Aussies there getting land in Bali that it’s giving other Aussies comfort that they can do it too.
“Other reasons people are looking into doing it is the incredible return on investment.”
But he said it wasn’t without risk.
“I think it is becoming safer to invest there but it is still high risk compared to here (in Australia).”
Bali is becoming a popular destination for property investors and developers. Image: iStock
Rae Underhill and Adriel Lack are behind luxury residential design firm Raven and Lack, with Bali the latest project destination for the business owners.
“For us it’s all about lifestyle — it’s such an easy flight and we are drawn to Bali’s natural beauty, vibrant culture, and relaxed lifestyle, making it super appealing to own property,” Ms Underhill said.
“We think the trend for Aussies developing in Bali is definitely set to continue — its proximity, climate, beaches, and cultural appeal will always remain of great interest.
“Then overlaid with high levels of design and luxury offerings which are then in turn delivering impressive ROI (return on investments), the lifestyle and investment opportunity combination becomes particularly compelling.”
Ms Lack said property development costs were often lower in Bali compared to Australia, making it an attractive option for those seeking affordable investments.
“Plus investing in Bali property can be a way to diversify a real estate portfolio and reduce risk,” Ms Lack said.
