When wanderlust gets into your bones, it can fast cost you a fortune. Once you catch the bug, you may book week-long stays in hotels twice or three times a year. Perhaps more. Before you know it you won’t feel right without having a trip to look forward to and your bank account will soon start to feel the sting.
If you’re going away this often, then it would be logical to consider buying property abroad. Though the upfront cost would be far more than a vacation, this would pay for itself within a few years. Having a holiday home also ensures you can hop on a plane without much thought. That could satisfy any sudden travel cravings which hit you. If the flights are available, there won’t be anything to stop you heading away at little more than a week’s notice.
Of course, where you choose to buy a holiday rental is down to you. It may be that you already have a location in mind. If you’re open to suggestions, though, you’ve come to the right place. While everyone will recommend different continents, Asia is pretty hot on the property market right now. What’s more, setting up shop here could provide a gateway to any number of Asian countries which appeal. All you need to do is select the right base. Luckily for you we have a few suggestions which could help you get a feel for your ongoing taste of Asia. Read on to find out what they are.
Singapore has already appeared in our list of amazing destinations for relocation, and with good reason. Many are touting this as the gateway to South-East Asia. Even businesses are setting up shop here. With both an impressive air and seaport, it’s easy to see why. From here, you can fly to around 159 countries, as well as being close to many Asian destinations. On top of that, Singapore is gaining wealth at astounding rates. As such, investing in property here now could see it gaining value in no time at all. Fancy claims aside, though, Singapore is a fantastic place to vacation, and there’s plenty to keep you busy if you do decide to set up here. This is also one of the few Asian countries which considers foreigners for land ownership. That said, you would need to apply for approval from the Singapore Land Authority before this could happen. Singapore also now ranks as the third most expensive country in the world, with prices often exceeding $15,000 per square meter. On top of which, the government have recently implemented strict taxes for overseas buyers. Still, you could more than make your money back if growth here continues. Be aware, though, that you will need to fork out a fair amount to secure your holiday home in the first place.
As you may have guessed from the points mentioned above, many countries in Asia don’t allow foreigners to buy land rights. While there are ways around this in Singapore, they can get pretty expensive. By comparison, Malaysia is the only place in Asia where you can buy landed property without loopholes and applications. While there are some restrictions to this, such as areas in which you’re able to buy, this could be your best bet at gaining a physical piece of land. If you like the idea of sunbathing in your private garden, don’t hesitate to start searching for houses like those found on iproperty Malaysia. Property here also has the benefit of being one of the cheapest options you could consider. Besides which, Malaysia still has plenty to boast about. This includes stunning scenery like Mount Kinabalu and bustling cities like Kuala Lumpur. It’s also right next door to Thailand. You could therefore travel between countries without having to pay Thailand’s steeper house prices.
Last on the list is Cambodia. It may seem a little left field as it’s much less developed than the other areas mentioned. Consider, though, that it’s also the fastest growing nation on this list. Many would argue that this is one of the best frontier markets in the world right now. Like Singapore, it has seen real growth and expansion in recent years. Wealth in this area has been increasing steadily, with house prices also rising per annum. Still, buying here at this stage could see you getting a bargain compared to the many other areas. What’s more, further promises of growth ensure you’ll earn a fair amount on a property here over the coming years. That said, it is worth noting that, again, it’s not possible for foreigners to buy land here. You can however still own a freehold. Technicalities aside, Cambodia also has plenty for your travel needs. There are fantastic sites, including iconic ruins such as the Preah Vihear temple, and seaside towns like Kampot. Cambodia also has the benefit of sharing borders with iconic Asian areas. Like Malaysia, it is right next door to Thailand. Unlike Malaysia, it also shares borders with Vietnam and Laos. Both make for stunning trips away. You can bet, then, that a holiday home here would make for all manner of future excursions to satisfy your needs.
A final word
As you can see, there are many Asian countries which could serve your holiday home needs. These are by no means your only options. The Philippines has also seen increased property interest in recent years. You may even wish to jump into Thailand instead of paddling in its shores. Either way, you won’t regret making Asia the base for your second home. That said, you do need to make sure of the legalities in the country of your choice before buying. As you may have guessed by now, there are often restrictions on what and how you’re allowed to own property. Failure to get on top of these could see you paying extortionate amounts or facing penalties. Do your research though, and you could soon have a little slice of Asia just for you.