The cost of this ‘amazing’ dream home in Bali is why so many Australians want to buy property in Asia – but there’s one major problem

Australians were left in disbelief after discovering how cheap it can be to get a piece of real estate in Bali, but many pointed out a major problem.

House prices in Australian capital cities have soared by up to 20 per cent in the last 12 months and are forecast to rise by more than a third in the next three years, so those looking to enter the property market are looking in other part.

Many were impressed when the travel blogger Alex Ulbin He toured a luxurious three-story villa in the heart of Canguu that was priced at just over $400,000.

The luxurious home has two bedrooms, two bathrooms with freestanding bathtubs, high ceilings, a stunning rooftop terrace, a private pool, a fire pit, and an elegant community living room.

‘That?!! “My lowest estimate was $15 million,” one viewer exclaimed, and another said, “That’s literally the cost of an apartment I live in.”

“Are you kidding… I’m moving there right now,” a third wrote.

However, many pointed out that the too-good-to-be-true deal was not what it seemed.

The property is a lease offered by investment group Alex Villas, meaning international buyers can only occupy the land for a period of time, as foreigners cannot own property in Bali.

‘It’s a 30-year lease! Ownership is unclear,” one person said.

‘You can’t own land as a foreigner. “You can only own the house above it and ‘lease’ the land,” a second explained.

Leases allow people from around the world to live on or rent the land for periods typically lasting between 25 and 30 years and then the land must be returned to the original owner.

It’s an option many Australians are choosing to get away from the increasing pressures of the cost of living.

Tom Wedding, who divides his time between Bali and Thailand, told FEMAIL he couldn’t afford to go out on a night out with friends in Australia, rarely dined out at restaurants and felt constrained by his finances.

The 24-year-old told FEMAIL he was tired of feeling “poor” while living paycheck to paycheck in Australia, so he sold his belongings in early 2023, packed his bags and moved to Asia.

He now invests and saves 60 percent of the $6,500 he earns each month while working in tropical paradises.

While in Asia, Tom said he can “live like a king” because meals, accommodations and amenities are drastically cheaper.

He also chose to live in Bali and Thailand because they are close to Australia and the locals are friendly despite the language barriers.

Jimmy Mitchell, 36, and his wife Pauline, 35, left the “stereotypical Australian lifestyle” in Western Australia and have been traveling around Southeast Asia for the past 10 months with their children Riley, seven, and Liam, eight.

Jimmy, co-founder of digital marketing agency My Online Guy, told FEMAIL that he was working non-stop to make a decent amount of money, but felt like he was “never going to get ahead” and sometimes came home crying.

At the time, the couple was renting a four-bedroom house in Mandurah, an hour south of Perth, and was struggling to save for a house deposit despite working long hours.

“The main reason we decided to travel full time was to improve our quality of life and spend more time together as a family,” Jimmy said.

They are now saving up to 50 percent of their income in a good month instead of between zero and five percent.

The couple haven’t looked back since making the leap and aren’t sure when, or if, they will return to Australia permanently.