Aussies flock to Lombok as soaring living costs bite at home

As cost of living pressures continue to bite and property remains out of reach for many Australians, there’s an increasing number of people looking for cheaper homes and lifestyle alternatives overseas. With more Aussies driven away from the property market at home – one industry expert has shared how a growing number are moving toward Lombok’s booming real estate scene instead. Ex-sydney resident and principal of Reef Property Lombok Tom Merrett has noticed a shift among investor buyers looking beyond Australia for property options. Mr Merrett, who spent close to two decades in commercial property in Australia before moving to Lombok where he now lives full-time, said two years ago Aussies made up 15 per cent of customers and now it hovers around 50 per cent. According to Mr Merrett, his Aussie buyers tend to fall into two camps: older buyers with healthy super balances who intend to relocate and young families after an affordable holiday home that earns a real return. “You have retired Aussies that have got so much cash to splash in retirement, I think is the main thing,” he said. “They are the ones that have got the money to spend in an overseas country. “There are younger famil...