I sold ALL my properties in Australia – here’s why I think everyone should do the same… and leave the country altogether: ‘The smart money has left’

An outspoken Australian entrepreneur who famously ditched Sydney for a luxury life in Bali has now revealed he’s sold every one of his Australian properties, and is urging others to follow suit.

Matt Cameron, 46, who made headlines after moving Bali, says the so-called ‘Australian dream’ of property wealth is dead, declaring that ‘the smart money has left.’

The former property developer and businessman, who once owned a multimillion-dollar portfolio in Sydney, said his decision to sell everything came after a ‘full professional audit’ of his investments – a moment that left him furious.

After leaving the country with his young family almost two years ago, Matt has no regrets leaving behind the sky-high rents, crippling taxes and ‘government overreach’.

He now claims to lead a life of luxury in a Balinese villa with staff on call round the clock, including two chefs, three cleaners, a driver, a personal assistant, security and more.

Growing up in Sydney’s exclusive eastern suburbs and attending elite private school Cranbrook before making his fortune in property and founding a successful health retail chain, Matt’s privileged life Down Under was far from the poverty line.

But he makes no apologies for his wealth or success – in fact, he revels in it, sharing glimpses of his life, achievements, financial advice, and often controversial opinions with his 95,000 Instagram followers daily.

Now he says that Australia is witnessing the greatest exodus of millionaires in its history.

‘They are going where the numbers make sense and they do not get emotional, nor are they blindly patriotic,’ he told Daily Mail.

‘When I took into account all the various taxes, charges and fees when purchasing, holding and selling property, I was lucky to make three to four per cent on assets.

‘There is no point building a portfolio that cannot even keep up with inflation.’

He said the findings were a wake-up call, especially after realising Australian developers ‘are brilliant marketers’.

‘They highlight capital appreciation and headline returns, but those numbers mean nothing once you factor in the ridiculous amount of interest you pay on the loan,’ he said.

‘Borrow one million dollars, pay the bank two million dollars – what you think is “profit” is not profit at all once you calculate the interest.’

Matt said the final straw came when an off-the-plan property he’d bought was delayed by almost double the expected build time.

‘It was supposed to be an 18-month build and it took just over three years. 

‘So, I didn’t finalise the settlement. I let them keep the deposit because walking away was a smarter decision than holding a declining asset.’

The major flaws in the Australian market

Matt broke down what he sees as the major flaws in the local market, from poor returns and inflated costs, to what he calls ‘one of the most aggressive tax systems globally’.

According to Matt, the Australian property market is still ‘living off a 1990s dream’ while the rest of the world has moved on.

‘Australia gives you three to four per cent returns if you’re lucky, [whereas] I get 15 to 25 per cent offshore with half the stress and in half the time.’

He also believes construction costs are ‘ridiculous’, stating that it’s now cheaper to ‘build a luxury villa overseas than renovate an apartment in Sydney’.

Meanwhile, banks ‘punish investors’, taxes are ‘from every angle’, and red tape makes it ‘near impossible to profit’.

‘Approvals take months. Projects take years. By the time you are allowed to build, the profit is already gone,’ he said.

Why ‘the smart money’ has left

Matt insists it’s not just him who’s pulling up stumps, claiming a wave of wealthy Australians are moving their investments overseas.

‘Australia is one of the highest taxed and most over-regulated countries in the world, and it’s well known for being a nanny state. The numbers do not stack up if you want to build real generational wealth,’ he said.

He argued that other nations are far more attractive for investors, and in his opinion, Indonesia, Singapore, Dubai and even the United States ‘see far higher returns, lower taxes and compete for foreign investment’.

Find a market with the best returns 

For now, he’s putting all of his focus, and money, into Bali, where he claims the market offers better returns, faster processes, and fewer restrictions – despite what some people may think.

‘It’s set up to support foreign investment, taxes are lower, approvals are faster and you are not buried in regulation like you are in Australia,’ he said.

Matt described Bali as ‘the new frontier’ for investors looking for strong returns with lifestyle perks attached.

‘Construction costs are a fraction of the price, so you can build a high-end luxury villa without insane overheads, and Bali has the highest Airbnb occupancy in Asia and tourism is growing around 15 per cent a year,’ Matt said.

When it comes to where he is currently investing, he is focusing on ‘ones that see 80 to 95 per cent Airbnb occupancy’, catering to a ‘more sophisticated traveller’ happy to pay a premium for luxury stays.

‘Returns are three to five times higher than Australia, with most villas able to pay themselves off in five to six years,’ he said.

‘I can build a luxury two-bed villa here for the same price as a studio apartment in Sydney, and I can rent it out for $400 to $600 a night all year round. And honestly, who would not want to own a stunning villa in a place they can holiday for free whenever they like?’

Think of investing as a business, not a gamble

To the critics who have accused him of gambling on unstable overseas markets, Matt said he’s not fazed by it, as long as buyers treat it like a business, not a holiday impulse.

‘Bali is built on foreign investment, so it’s not risky when you approach it like a business transaction and use the right legal structure,’ he explained.

He explained that property transactions are handled by Notaries – government-appointed legal officials who protect both sides.

‘If they do the wrong thing, they lose their licence,’ he said.

‘The horror stories always come from someone who goes on holiday, falls in love with a villa and transfers money to a random person without following the formal steps.’

He also insists his decisions aren’t just financial, they are philosophical, scoffing at those who accuse him of chasing a tax break.

‘I would call it tax minimisation, and I have never met a person who would not want to pay less tax – especially when the [Australian] government clearly has no idea how to spend it,’ he said.

‘Our quality of life in Bali rivals what some of our wealthiest friends have in Australia, and a couple of them are billionaires.

‘And by changing location, we outsource the tasks we don’t want to do, meaning we spend more time on ourselves and with our kids than ever before. My whole life is on autopilot.’

Is the Australian dream ‘broken’?

Ultimately, Matt believes most Australians have been sold a lie about property being the safest way to build wealth.

‘They have no idea that by borrowing the money from the bank they will pay back more than the loan in interest across the duration of the loan,’ he said.

‘The Big Four Australian banks are in the top six most profitable banks in the whole world. How could they be making that much money if they were not screwing people over?’

And as for whether he’d ever return to Australia’s property market, Matt’s answer was as clear and direct as his previous opinions.

‘I will never invest in Australia again. The Aussie system is set to manipulate and rob people at every turn.’