At this moment the Vietnamese government is creating more and new laws for foreign ownership. Not only with businesses, but also regarding private apartments. As where before you could only own up to 30% of a property, now you might be able to buy it all on your name as a foreigner. In Hanoi several projects are in the line from where foreigners can choose. Of course, the price range will defer and big cities throughout Asia are not the cheapest locations.
Apartments – MarQ
The MarQ is located in the city center, which is the business area as well as the tourist area. To give you just one indication of a project in Ho Chi Minh City is the MarQ Luxury apartments in district 1 of HCM (Saigon). The apartments have 6.9 meter high ceilings and a private lift lobby. The price for this particular apartment is 920k USD. Two penthouse units are available for 3 million USD each. Not a cheap price for a city without any proper infrastructure and over the limit pollution levels. Policies are that you only need to pay 50% of the total value within the first three years with a 1% monthly payments schedule.
Hospitality estate ownership
Vietnam government is thinking of a new law that allows foreigners to own hospitality property like condotels and villas. There wasn’t yet any regulation regarding this kind of ownership. It would attract foreign investment although many Vietnamese have fears. This based on the numbers that Chinese nationals and entities own over 162,000 hectares of land in Vietnam. In case you’re planning a to open a hotel, keep this option and process in mind.
Retirees – Thailand
Apartments are often taken by foreign retirees. Many countries like Philippines and Cambodia offer good deals to get foreign retirees to spend there pensions in Asia. Thailand is focusing nowadays only on the wealthy tourists and foreigners. No longer do they appreciate the small pension foreigners who helped to built up Thailand. With a currency (Thai Baht) that grew stronger and stronger, the country no longer is a paradise for pensioners. A perfect example is their Thai Elite Visa of which you can find more on this site. According to Bloomberg News the nation had become too reliant on Chinese groups and backpackers.
Because of the covid crisis many condos and projects are empty or postponed. Though, the price for a very small one person condo in the Onnut area of Sukhumvit cost you $550 monthly. There is a covid related temporary easing rule of the registration of address within 24 hours of each and every entry of the country, together with the owner of the house. Still, it doesn’t make Thailand attractive for middle class foreigners anymore. When you’re wealthy, they welcome you with open arms. Though, keep in mind the limitations like emergency laws and other military style rule.
Cambodia offers an E-class visa on arrival with a six months validity. People of age over 55 can get an extension by presentation of a valid retirement document and proof of funds. The 6 and 12 month visa has multiple entry. Once you have the 1 year visa, you can easily get it renewed through a local agent. With a low cost of living rate of $400 for a one bedroom condominium and low taxes it’s cheap for many westerners. In the Annual Global Retirement index of International Living Cambodia came out as cheapest place to retire in 2019.
As for now a foreigner can own 100% of a flat or condo as long as it’s not on the ground floor. A new law in the making allows foreigners to have ownership rights for up to 70% on a second home. Cambodia is surely in many ways one of the better options for the retirees or pensioners who aren’t very rich and wealthy. The only warning we can give you is that Cambodia opened its doors to China in every aspect and way. Both Sihanoukville and Phnom Penh got flooded with Chinese who brought with them their casinos and crimes.