The nationals of Australia, the UK, Germany, Russia, as well as the citizens of the Scandinavian and other European countries, prefer buying property in Thailand.
The Kingdom of Thailand is popular with tourists from all over the globe as well as downshifters looking to escape the expensive and humdrum life in the West and money-savvy pensioners.
Taxes for property buyers and owners in Thailand are low in comparison to many Western countries.
"Thai banks do not provide mortgage loans to non-residents. What’s more, foreign nationals can´t get a bank loan for any purpose. There is only one legal way for them to finance their property purchases in the country, which is through the MBK Group," said Nikita Shcherbina, Director of the East-West Realtors Group, Tranio's partner in Thailand.
To buy property in Thailand, you need a passport. If the property is registered to a legal entity, additional documents are required including a copy of the certificate of incorporation, memorandum of association, certificate of registration, list of shareholders and power of attorney (upon request).
Real Estate Investment Indonesia (REII) 2019 Conference is going to be held on 30-31 July 2019 in JS Luwansa Hotel, Jakarta.
Phuket is one of Thailand’s main tourist destinations. Investors from all over the world put their funds into the island's infrastructure development. However, Phuket does not only attract prominent entrepreneurs: investors with modest budgets can also make money on local real estate. Tranio partner, the Phuket9 development company, explains how.
Maintenance costs on a flat in a resort complex amount to about $1,400 per year. The exact sum depends on the living space, amount of energy used and the length of time spent there.
In Vietnam, property maintenance costs cover the land tax and utility bills. The owners of investment properties also pay a management company fee and a rental income tax.
Taxes in Vietnam are lower in comparison with those of the US and Western Europe. In this Asian country, property buyers pay VAT and a registration fee, owners pay the land and rental income taxes and sellers pay a sale tax.
As of December 2016, mortgage loans cannot be issued to foreign residents in Vietnam. The country’s authorities allowed foreign buyers to purchase homes and apartments in Vietnam on 1st July, 2015, and the local lending market is not yet developed.
After several years of decline due to the 2008−2009 crisis and the high inflation rates of 2010−2012, the market of property in Vietnam is becoming attractive for real estate investors. Internal demand for residential property is being reinforced by rapid urbanization, whilst demand from foreigners is being fostered by the liberalisation of property buying.
Prior to 1st July, 2015, foreign nationals were only able to buy one leasehold apartment for their own use for 50 years and with no extension options. The rental of residential property in Vietnam, conveyance by inheritance and donation were prohibited. In addition, at least a year of working experience in Vietnam was required.
This Tranio.com report on the Vietnamese real estate market showcases its key qualities worth