In terms of places where I'm eligible to buy I have a choice of the UK with Brexit and HK without the 30% tax because I'm married to a local. Not a great choice!
In terms of places where I'm eligible to buy I have a choice of the UK with Brexit and HK without the 30% tax because I'm married to a local. Not a great choice!
Plan to remain... that's the problem. I find it hard to plan with current events. I guess the only thing to do is not try to forecast the future and look at how things are now. But even that's not easy because while HK is massively better for work... we need to establish my wife's option to live in the UK. At the moment we could be married for 50 years and she'd still not be allowed into the UK when I die.
So do we make hay here while the sun shines in terms of work... or drop it all and start afresh in the UK just to be get the same residency status as we have in HK. It's a terrible dilemma.
Ha ha, I'm with you in many ways BDW, I also bought in 2009 and it has changed my future, sitting on well over a million quid in equity. So not only that but, it has saved me a lot of money in rent and allowed me to live for periods without an income....without much worry.
However, I do have to laugh at the timing of your prediction here....and at the same time note how resilient HK property s.t.i.l.l. is.
My other half is PR with the liquidity to buy, but I very very much doubt she'd buy here now.
IF we were renting however, I'd still consider it.
Right now I'd keep and rent out, (selling would be difficult now and I guess I could get a better price in a short-ish window of stability)
And with the rental value way higher than the mortgage I'd still be making a profit.
I might even re-mortgage to release some of the equity - thinking of this anyway, even If I don't leave,
But would aim to sell as soon as it felt like the market was moving semi normally again.
What about you? Do you own?
Similar thoughts Sage. If you sell what do you do with that cash that's less risky but equally lucrative as holding property. Renting out currently would bring in regular returns.
Maybe buying another, smaller, newer, to live in for a bit.
I look at the UK, but they're already looking at increased capital gains taxes, possible property and wealth taxes.
Unpredictable times but we have to make our best guess!
I’m thinking to see what happens with global Property and buy a few places depending on where markets tank somewhat - which would include the UK, South Of France, Spain / Portugal.
Not earning in the UK means having an unused income tax allowance on rental income to take advantage of and I’m sitting on a chunk of cheap Stirling for a deposit. (If I mortgaged there) - I’ve seen the stamp duty holiday but not yet heard about potential property/wealth taxes.
Agents in Portugal however are claiming to be getting a lot of enquiries for properties from Lo and behold, HK which I can well believe and is supposedly supporting prices there c.u.r.r.e.n.t.l.y.
Other than that, trying to learn more about having a balanced risk asset/debt/commods portfolio.
Am wondering whether it's worth buying a European bolthole - whether an apartment in London or some nice beachfront place like Montenegro...