Flat in the Philippines and Thailand

[Newby]

Hi Dr, you have convinced me!

 

No, I have been looking at Australia (taxes are about 50% of the rent, while the interest rate is 5.4%), Canada (lower taxes, but only a mortgage of 65%, which means most of my money would go into a small property in a city and country I know very little about), Singapore (20% tax on the price of the property).

 

What about the Philippines? Can you make am 80% mortgage in Philippino peso, and use the rental income to pay for the mortgage? How is the process of buying a flat there? I think you bought a new building, not yet finished? Or do you have tenants? What are the commission for the agent? Have the tenants been paying regularly? What is your general experience?

 

P.S.: I still don't have time for boots on the ground.

[drbubb]

You will find loads of Info and calculations here:

- For Philippines : http://www.greenenergyinvestors.com/index.php?showtopic=18811&page=1

- For Thailand-- : http://www.greenenergyinvestors.com/index.php?showtopic=19583

 

> You can also make comparisons here: http://www.globalpropertyguide.com/

 

For my own flat, I will not borrow anything, since I do not fancy the idea of paying a 5-6% interest rate

in a currency that is holding up very well, because the country is experiencing 6-7% pa growth.

 

I do not think it will be easy to borrow large percentages if you are a foreign investor.

The bank will worry about what might happen if you lose your tenant .

HSBC might lend to you, if you are also a (Premier) customer in HK

========

 

Both of my properties, I bought off-plan: They complete in 2017 (Philippines) and 2018 (Thailand).

I may or may not hold them both through completion. I think I may have the opportunity to sell at

a profit, if I choose to do so. But no guarantees. At least I can look at the money at risk and see that

it is a small percentage of the cost of buying a property in HK.