For those who have ever considered investing in properties outside of Singapore, now’s as good a time as ever. Globally, governments have been working to make their countries’ property sectors more fertile for foreign investors and agencies have been increasingly proactive in providing cross-border services to investors who are seeking opportunities overseas. Many agencies now provide full suite services to clients, including legal, property maintenance and tenancy fulfilment.
Overseas property investment used to the the domain of only the high-net-worth. But increasingly, the middle classes or nouveau-rich have been picking off valuable properties off the sides. Although they may not go for properties above $3 million, they are still looking for properties to put their money in, usually below $300,000. They may be looking for accommodation for family members in a particular city, or simple a way to hedge funds or to secure additional passive income.
Which cities do investors typically look at? There are those who will look for properties in countries or cities where their children are furthering their education or where family members are relocated for work. They see these overseas property investments as a means to save on paying for rental accommodations and as a means of earning rental yields when the properties are no longer required for personal use. There are also those who are looking to invest in places where the potential for growth is considerable – in cities which are just opening up their real estate sectors and where they can buy low and eventually sell high. In the region, countries such as Cambodia, Myanmar and Vietnam may be of interest. Further from home, United States, Canada, Germany and the Middle East are also taking steps to cultivate a more inviting environment for foreign investors.