Southeast Asia should be at the top of your list if you are considering purchasing a property overseas. From its stunning natural beauty to its friendly locals and affordable cost of living, there are countless reasons to fall in love with this part of the world. Here are just a few of the many reasons why you should purchase a property in Southeast Asia.
The Cost of Living is Low
One of the biggest attractions of Southeast Asia is its low cost of living. This leaves you with plenty of extra cash to enjoy everything the country offers, from its delicious food to stunning beaches. And, if you’re retired or semi-retired, your pension or Social Security payments will go even further. There are three countries within the region with the lowest cost of living globally.
Vietnam
Many Americans live in this Southeast Asian country because of its food, scenery, and people. However, many more stay because of the affordable cost of living. The average monthly expense for a family in Vietnam is just $1,500, while rent typically costs under $400. There are various reasons why this is the case. First, Vietnam is an export-driven country, so many items’ costs are kept low. Taxes are also relatively low, and salaries are generally under $500 a month. Lastly, Vietnam keeps a tight rein on inflation, so prices don’t increase at an alarming rate.
Thailand
This country attracts ex-pats and tourists with its beautiful beaches and vibrant cities. Plus, the cost of living is low enough that it’s easy to enjoy life in Thailand without breaking the bank. The average monthly expenses for a family are under $2,000, and rent can be as little as $400. However, you’ll need to factor in medical care costs much higher than Vietnam’s.
Indonesia
This picturesque country is one of the most beautiful on the Southeast Asian continent. Beyond its natural beauty, it has a welcoming population, tasty food, and a low cost of living. The average monthly expense for a family is just $1,200, and rent is typically under $400. However, keep in mind that the economy has recently been slowing down.
The Weather is Ideal
Southeast Asia enjoys tropical weather year-round, with temperatures hovering around 80 degrees Fahrenheit (27 degrees Celsius). This makes it the perfect place to escape the cold winters and sweltering summers of more temperate climates. So no matter when you decide to visit or move to Southeast Asia, you’ll always be able to enjoy its sunny skies and beautiful weather.
Affordable Properties
Southeast Asia is one of the most affordable markets for real estate. You can find places for less than $100,000 in some cities and towns. This low cost makes it realistic to purchase your own home or vacation property without spending a fortune. Plus, many ex-pats choose Southeast Asia because they don’t have to pay taxes on their property, giving them even more extra cash every month. There are three countries where you should buy your properties. The first is the Philippines.
The Philippines
This particular country has been receiving massive growth in population and GDP. This means that many job opportunities are available, and the government is investing a lot of money in infrastructure. This makes it an ideal time to purchase property while prices are low before they start rising again. Plus, this country has some of the lowest rates if you’re looking for affordable rent.
As a foreign investor, you can look around the capital and find some luxury properties that are in your price range. There is various Manila Bay condo for sale that are affordable, and the views are striking. However, it’s a highly contested area by investors, so you should purchase a property sooner rather than later.
Laos
This country has also experienced massive growth in population and GDP, but it’s one of Southeast Asia’s most affordable real estate markets. The average price for an apartment is around $50,000. Plus, you’ll enjoy cheaper utility costs and lower taxes than other countries in the region.
Vietnam
This country has the lowest real estate prices in Southeast Asia, so it’s ideal for investors looking to save money or purchase additional property. You should expect to pay around $50,000 for an apartment, and you can easily find other properties that cost less than $100,000. Ho Chi Minh has some of the lowest rents in Southeast Asia, making it a great place to live while you save money on your real estate purchase.
Southeast Asia has so much to offer anyone who decides to purchase a property here—from its stunning natural beauty and friendly locals to its affordable cost of living and endless things to see and do. So what are you waiting for? If you’ve been thinking about purchasing a property overseas, there’s no better time than now to start your search in Southeast Asia!
