Buying Property in Asia

Buying property in Asia is increasingly popular among global entrepreneurs, especially those looking to diversify and enhance their assets. The following information will help you make an informed decision on whether to enter the Asia real estate market, and how Healy Consultants can assist you to obtain international mortgages.
1.	Most analysts believe now is a good time for buying property in Asia. The Global Property Guide says Asia real estate prices have been 'taking off', especially during the second quarter of 2007.
2.	Analysts believe the Asia real estate boom is being driven by four main factors - increased liquidity, confidence in economic growth, healthy job markets and broad-based recoveries in property markets.
3.	Leading the way in Asia real estate price growth is Singapore, which witnessed house price increases of 21.1% in the second quarter of 2007, up from 6.1% growth in the same quarter of 2006. Figures from the Urban Redevelopment Authority (URA) show that private home prices reached a 10-year high in the third quarter of 2007.
4.	In addition to Singapore, Asia real estate prices have been showing strong growth in other countries. For example, in the Philippines, prices rose 14.3% in the second quarter of 2007, Hong Kong prices rose 8.8% and Japan was up 7.8%.
5.	Global business people are purchasing property in Asia because they are attracted to the economic opportunities and the lifestyle in the region. For example, in its 2007 Index of Economic Freedom, the Heritage Foundation ranks Hong Kong as the world's freest economy. In its 2007 Quality of Living survey, Mercer Human Resource Consulting ranks Singapore as the best place in the Asia Pacific in which to live.
6.	Some investors looking at buying property in Asia are looking at emerging markets such as Thailand and Malaysia. Private equity analysts and Thailand experts generally believe that the long-term outlook for investment in Thailand’s residential property market remains positive. The attraction of buying property in Asia in these markets is due in part to luxury resorts being developed with high-income investors in mind.
7.	In its 2007 Malaysia Property Market Analysis, property analyst Amber Lamb reported 'enormous potential for growth' in Malaysia, with the commercial market potentially outstripping the residential in terms of instant attraction in 2007. It adds that an investor in residential real estate 'needs to pick their properties carefully if they are to see any short term appreciation'.
8.	Asia real estate is excellent value compared with more mature markets in Europe and the US. In addition, Buying a property in Asia is attractive due to Malaysian currencies being cheap compared to the Euro or Sterling.
9.	Buying a property in Asia is becoming easier due to restrictions being lifted in some countries in the region.
10.	Foreign investors are encouraged to purchase Asia real estate in some countries. For example, in Singapore, the government's Economic Development Board (EDB) offers permanent residence (PR) status to foreigners who invest S$1 million in property in the country, as part of its Global Investor Program.
11.	Regional hubs such as Singapore and Hong Kong have sophisticated financial systems, making it simple to obtain international mortgages to support Asia real estate purchase.
12.	To support our clients' Asia real estate ambitions, Healy Consultants works with reliable real estate professionals and banks in Singapore, Hong Kong, Kuala Lumpur and Dubai.
13.	Individuals and entrepreneurs buying property in Asia are liable to pay tax on residential properties, regardless of their place or residence or citizenship.
14.	On behalf of our clients, Healy Consultants project manages the entire process of buying property in Asia and obtaining international mortgages, in the following way:
	Our client outlines his Asia real estate ambitions, including preferred location, specifications and budget; Healy Consultants explains the legal and tax implications of buying property in Asia, including any restrictions on buying Asia real estate or obtaining international mortgages; Healy Consultants introduces our client to a reputable Asia real estate agent, who shows our client properties matching his specifications; If necessary, Healy Consultants assists our client to obtain approval for buying property in Asia; Healy Consultants' solicitor prepares Offer to Purchase and Sales and Purchase documents on our client's behalf, in preparation for buying a property in Asia; Healy Consultants arranges to pay stamp fees etc on our client's behalf in lieu of Asia real estate purchase; Healy Consultants approaches regional banks to obtain international mortgages on behalf of our client. Healy Consultants works with a number of internationally-recognised banks who offer competitive international mortgages; Healy Consultants arranges for an officer from several banks to outline their international mortgages, and we then make a recommendation to our client based on the best offer; Healy Consultants prepares an application for an international mortgage on behalf of our client.
15.	Following Asia real estate purchase and obtaining an international mortgage, some clients request our assistance to obtain employment and residence visas.
16.	To support our clients' Asia real estate purchase strategy, Healy Consultants provides a comprehensive consulting service, including migration and relocation services, as well as familiarisation programmes.
Contact Us
For more information on buying property in Asia or obtaining international mortgages, email email@healyconsultants.com or telephone us at (+65) 6735 0120.
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Buying Property in Asia

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