Asia is the largest continent on Earth and has a variety of people, races, culture and resources.This largest piece of land is the most heavily populated and has over 4,653,226,423 (source: worldometer 2020) people living.
Living and owning a property in Asia (in any of the flourishing countries) is definitely a life goal for which people spend years and years striving to achieve.
Here we will let you know why you should be booking your home in Asia and how you should do it!
Asian countries such as India, Vietnam have been growing exponentially. Currencies are highly lucrative and investing in properties has a huge scope. China being a developed nation still recorded a GDP growth rate of 6.11% in 2019 (source: statistica) and IMF forecasts it’ll continue to grow despite Covid-19 hitting the economy in 2020.
Investment forecasts report, “Anyone that has invested in property back in the 1990s in cities such as Shanghai would have seen the values in their assets growing as much as 24% per year in some years”
Vietnam is one of the most flourishing countries amid the US China Trade War. Due to low wages and easy tariffs a lot of countries have started replacing their manufacturing outlets from China to Vietnam. Urbanisation is increasing. However, purchasing a property in Vietnam is a bit complicated. No matter who you are, you can only lease the property for 70 years (this could be extended technically)
Malaysia is the only country in SouthEast Asia where even foreigners can buy land. Singapore is another country which welcomes foreign investment and wealth. Foreigners can legally buy condos, land and houses with an ease.
Other Asian countries which have a good scope of investment and residential purpose are India, South Korea, Japan, Cambodia, Philippines and more.
Properties Type in Perspective and in Terms of Investments
Office – Office properties is in demand to fulfil official requirements. Core locations in gateway cities are still seen as bullet-proof choices, and above all other assets, office buildings provide the opportunity to put a large amount of money to work in one go.
Residential – Residential is one of the most common properties been on demand. Flats, Independent House, Duplex, Pent House, Villas comes under residential category. It is purchased for personal use.a lot of global investors favour other asset classes in the country, particularly logistics space, but also retail.
Retail – Buying Shops and showrooms is on boom now a days. Asians are very much business minded and want to do something own rather than working for others and get paid.The retail sector continues to be tough for landlords and the retailers themselves, as they try to adapt to tech-driven changes in shopping habits, such as e-commerce and mobile payments. Retail remains at the bottom of the preferred sector ranking in terms of investments.
Industrial/Logistics – Factories, Service Centres, Go downs, CnF agents Companies demands spacious buildings or multi stories.
Hotel – Increasing tourism in both developed and developing markets There we find thousands of hotels in tourist places in Asia. Today’s market is keeping the otels sector on investors’ radar screens.
So, if you’re looking to book your dream home in Asia, now is the right time to do so!