Job Discussion Forums

[patrickO]

I'm looking to buy my first home and I'm really considering buying one in Asia, the idea really appeals to me. I run my own online business, I'm assuming the continuing to run it online would be no problem (I manage a collection of websites). I make about $2000 a month doing this so I figure I could live much more comftorably in an Asian country then I could in Canada. To tell you the truth though I don't really have that much knowledge about Asia. I figure I'd have to take a couple vacations before I made my decision, but before I can do that I need to get a general idea of what country would be good to move to. Could anyone give me advice?

[Travel Zen]

India is a good place. Inexpensive and most amenities.

If you like the beach, try Goa. If you like the nightlife, try Mumbai.

If you want tech, Bangalore.

[saint57]

Malaysia My Second Home (MMSH)

It was for retired people, but I believe if you earn more than RM 7,000 ($2,125 CDN) per month you can qualify. Anyways, I may be talking pure B.S. so check it out for yourself. www.alloexpat.com/malaysia_expat_forum has a forum devoted to the subject.

[Steppenwolf]

Don 't recognise your currency ("$2000") but if it is Canadian it's not a very high income.

There aren't that many countries in Asia where foreigners can legally own property; many retirees emigrate to the Philippines or Thailand but they give Indonesia a miss - for obvious reasons.
In the Philippines, however, you cannot own a home and remain a foreign national - unless the relevant laws have been changed (there was a murder 2 years ago involving some artistic celebrities from European countries based in Hong Kong who apparently were able to buy a villa and enjoy holidays there every year - one of the murder victims was a Mr Schoeni whose gallery had caught my attention before so I was interested in his case; yet I do not know whether he was a legal home owner).
In Thailand too foreign nationals are not exactloy encouraged to invest in property though many do - with Thai strawmen or -women. The Thai government was quite relaxed about foreigners' stay in their country; many crossed borders to neighbouring countries every time their tourist visa expired, returning a day later with a new one. This is bound to change, though, as the authorities feel it is a facility being abused by foreign nationals (often married to a Thai partner).

You stand a more reasonable chance of succeeding in a jurisdiction such as Hong Kong or Macau - both of which are independent of their national home, China. The trouble is that the home prices in these territories are among the world's highest.
What's left? You can investigate the Mainland Chinese market. Foreigners have been allowed to invest in their own homes here though of late certain restrictions have been imposed (to thwart attempts at controlling the market and against speculation).
The trouble here is that you only own the physical property sitting on the land; the land itself remains in possession of the Party, i.e. the local authority. You can lease the land for up to 70 years - but what after that?
For the time being, no one has any experience with this rule since it came into effect less than 70 years ago.

From my own experience I can tell you investing in a home in Mainland China is worth if you live here for a long time; however, don't forget you also need an income, and as an investor you must have sufficient funds, and as an employee you can not afford to buy a home here with your salary - unless you get paid by an employer in your home country.

[Serious_Fun]