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when u say u can even buy the home with land
titles, what countries are you referring to?
I forgot to say I am also a italian citizen but
I guess it will not make any difference....
In Malaysia foreigners can buy houses with or without the land deed. With the land is called "freehold"; without, "leasehold", with lease periods running around 99 years.
I bought a house in Malaysia back in 2005 and it was a very good deal. Unfortunately, the government has since raised the minimum price that a foreigner must spend to buy a house or condo, and restricted the type of house that can be purchased. Thus, I sit in a house that I can really only sell to a local since it falls WAY under that minimum price.
Thailand is different in that a foreigner can own only up to 49% of the value of the real estate; the majority ownership has to be in the name of a Thai. I think that the Philippines is similar.
Singapore is different, freer, but soooooo very expensive. You may as well buy in the middle of Milan.
Thailand is different in that a foreigner can own only up to 49% of the value of the real estate; the majority ownership has to be in the name of a Thai.
With regard to percentages of ownership in Thailand, that's correct, but I think for the most part it's related to business properties and condo buildings. For example, a foreigner can purchase and own a condo, which in effect is usually a high-rise apartment. But you clearly don't own the land the building is located on and occupancy by Thais in other units is where the 49%/51% figure is applied.
With single family homes, it's a different matter. You might be able to purchase a house, but you'd have no ownership of the land it sits on. That puts you in a difficult position if the land owner decides to occupy the land or sell it to someone else. "Owning" a house isn't much good if you don't own the land it's built on. If you are married to a Thai national, both of you can make a purchase, but the legal ownership is by the Thai national which gives the Thai spouse 100% ownership. The foreigner is completely out of the picture.
In Malaysia foreigners can buy houses with or without the land deed. With the land is called "freehold"; without, "leasehold", with lease periods running around 99 years.
I bought a house in Malaysia back in 2005 and it was a very good deal. Unfortunately, the government has since raised the minimum price that a foreigner must spend to buy a house or condo, and restricted the type of house that can be purchased. Thus, I sit in a house that I can really only sell to a local since it falls WAY under that minimum price. Thailand is different in that a foreigner can own only up to 49% of the value of the real estate; the majority ownership has to be in the name of a Thai. I think that the Philippines is similar.
Singapore is different, freer, but soooooo very expensive. You may as well buy in the middle of Milan.
The house which you have bought for 500K should have risen to one million ringgit by now. You can easily sell it either to the locals or fellow expatriates.
And in Malaysia - apart of lease hold or freehold titles , there are Bumi titles which is only tranferable among the Bumiputera and in cases of other titles ie strata titles in commercial or community units unless and until it is being approved and divided, it cannot be sold even to the locals. Of course, the low cost untis which is for low income earners is another well - low wage owners. Definitely a no buy for foreigners. Finally there is another plot of land which is on TOL which is a temporary licence which is a NO NO as the word itself is temporary!
Properties ownerships do usually come with the titles in Malaysia.
Those houses which were bought at those Expat Enclaves have had risen at least 50% or more. For the record, a house bought at Desa Park City for 900K , it is selling more than RM2 million! Even the locals favor the Expat Enclaves because of strategic location with low crimes rates because of gated and guarded community.
Buying outside these Expat Enclaves really requires a competent real estate agency for foreigners and even Malaysians who are not familiar with specific locations where various considerations has to be taken into account as per investment for reselling appreciation basis.
Unfortunately Malaysia and many Asian countries lack of qualified real estate agents who can hardly gives sound insights or financial advices to properties buyers. Heck, they cannot even write a decent procument letter why the properties should be bought or legal implications or jargons in the sales and perchase agreement! Dont be surprised you be serviced by those who are just part time housewife earning sideincomes! Therefore, some are clueless as they cannot tell you the inconvenience of buying something that would not qualified for Malaysia 2nd Home program.
And for agents acting for foreigners, they should require more than just communication English but comprehension of legal undertanding and banking terms. But in reality, they dont have to qualified to sell or buy the properties by undergoing examination like in the States.
Finally, ensure you get the service of reputable legal firms and registered real estate agency to handle your purchases to protect your interests against any CBT or neglience.
Caveat Emptor
My advice for those who wanted to "migrate" to Asian countries where they haven't been before - try to stay there for a few months before settling down with properties purchase. Factors like community, food and jobs might be not of your likings or you might have cultural shock where in some regions people dont speak English!
Last edited by zinglicious; 02-25-2012 at 01:54 PM..
I doubt Singapore will accept you unless you can contribute to the country. Malaysia is a Muslim country, have you thought of that?
Yeah , but we have a world class casino at Genting Highland, 3 national number betting centers, 3 turf clubs nationwide, hip hop clubs and pubs like KFC or MCD in almost every corners and Tv programs running X facor or American Idol weekly.
It is just a shame we dont have Hooters or Playboys clubs out in the open though! That is one thing my American colleagues and bosses said when they got here as top preferrence transfer choice when I worked for MNC pharmaceutical years back.
Last edited by zinglicious; 02-25-2012 at 02:17 PM..
Yeah , but we have a world class casino at Genting Highland, 3 national number betting centers, 3 turf clubs nationwide, hip hop clubs and pubs like KFC or MCD in almost every corners and Tv programs running X facor or American Idol weekly.
It is just a shame we dont have Hooters or Playboys clubs out in the open though! That is one thing my American colleagues and bosses said when they got here as top preferrence transfer choice when I worked for MNC pharmaceutical years back.
The house which you have bought for 500K should have risen to one million ringgit by now. You can easily sell it either to the locals or fellow expatriates.
My house cost RM160k, which was only RM10k over the minimum price in place at that time. Now the house has appreciated to between RM270k-300k, but that is well below the RM750k level set by Pahang's Menteri Besar for foreign ownership.
What about Georgia? It's right between Europe and Asia. Stunning countryside (check out the Racha region), friendly people (google the phrase "Georgian hospitality"), elaborate cuisine, easy entrance (you can stay there for 360 days without a visa), low prices (food, rent, transportation, utilities, etc cost at least half of what we're used to paying in the US; you can live comfortably on $300 a month; someone I know who biked through the country said you can buy land and a house there for only $7000!). Plus the dollar exchange rate is great.
I've never been to Georgia myself; this is just what I've discovered about the country from doing research online, and talking to a friend who has been through there a couple times.
Last edited by plantedbystreams; 02-25-2012 at 08:49 PM..
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