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Buying property in South-East Asia

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  1. #51

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    National Australia Bank more than likely want other properties as collateral. I have dealt with them before and no problems until paying up and finally getting the deed out which is cheap but has a long wait time. Loooong....as in a month to take the full land deed out of their office.

  2. #52

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    For mine in Australia, they wanted my Sydney property as collateral plus take the title of the Melbourne place. I suppose it is place and cost dependent.

  3. #53

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    Had a place in Malaysia for a few years and was glad to get rid of it in the end. Country is a basket case.


  4. #54

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    Quote Originally Posted by mgi:
    Had a place in Malaysia for a few years and was glad to get rid of it in the end. Country is a basket case.
    Could you expand on that?

    Wife wants to retire to Penang, quite close, but not too close, to relatives.

  5. #55

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    It is in the midst of being transferred to OCBC if you are referring to the NPW HK side. Plus winding down on Japan. SG side has transferred. This is because of new domestic clampdown on overseas property investors. Whether in Australia/NZ or offshore.

    I still will not recommend buying a condo in Malaysia unless one has family to constantly checking or one is free to fly in for checks. Some are a hit and miss. The bare minimum is still high. Plus the rates are high for first five years. Better to buy in KL.

    Landed/Gated/Terraced are better. Minimum is higher now.

    Overall, Singapore is a better bet. Pricey as it is.

  6. #56

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    Quote Originally Posted by Cwbguy:
    Could you expand on that?

    Wife wants to retire to Penang, quite close, but not too close, to relatives.
    Penang is nice but looking at Malaysia as a whole, best not to retire there unless you are bumiputra.

  7. #57

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    Penang I'm sure is fine as a retirement home or whatever. I just find the country inefficient, bureaucratic, racist (to Chinese) and frankly a major hassle to get anything done. I have property in Thailand and even it isn't so bad. Oh and also currency restrictions..


  8. #58

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    Original Post Deleted
    Speaking of car spaces, Henderson Land are selling off about 20 spaces in my building in Olympic area. Prices range from HK$2.1m to $2.3m. The building has 42 car park spaces for 348 units, a ratio of 8.1 which is apparently quite high meaning it can be guaranteed to get a 'tenant' easily. Monthly rental estimated between $4200 and $6800 (not sure if true, sounds a bit high to me), which equates to around 2-3% return. But not sure about this, hard to justify spending that much on a car space when you can buy a whole house in other countries.
    Vix85 likes this.

  9. #59

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    Quote Originally Posted by quantzie:
    Penang, KL and Johor Bahru markets are the ones you'd want to go in to. Be careful of who you rent out to though. Enforcement on non-paying tenants aren't really enforced so you'd have to really check up on your investment often. Besides that, I think there is a minimum property price ruling for foreigners. These few years are a good time to go in as the market is soft at the moment
    I live in Penang but would not want to buy property here. Prices have risen a lot in the last five years and a lot of condo's are standing empty. Nevertheless they continue to build more and reclaim land to be able to build even more. I don't think that buying property here would be a good investment. For foreigners there are rules that limit what you can buy (price must be above a certain limit) and if you sell within the first five years you pay a penalty in the form of a special tax.

  10. #60
    Quote Originally Posted by bdw:
    Speaking of car spaces, Henderson Land are selling off about 20 spaces in my building in Olympic area. Prices range from HK$2.1m to $2.3m. The building has 42 car park spaces for 348 units, a ratio of 8.1 which is apparently quite high meaning it can be guaranteed to get a 'tenant' easily. Monthly rental estimated between $4200 and $6800 (not sure if true, sounds a bit high to me), which equates to around 2-3% return. But not sure about this, hard to justify spending that much on a car space when you can buy a whole house in other countries.
    im guessing you're actually referring to metro harbour view which is probably closer to nam cheong station. I dont think the rental is anywhere near $4200 as DeletedUser mentioned, that's more like the price at kowloon station (at least in my block)

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