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Originally Posted by Ist Das Crazyboi
Exciting mate. Have often thought about this as paying rent sucks and condos here are a lot more affordable than say buying a flat back in the UK. However I'm a bit of a pussy and would kind of be like putting all my eggs on one basket, in a foreign country.
Do you have any future concerns about owning property here or is it just a no-brainer good investment?
GL with the transition sir!
It's no a no brainer, but I did the research and have a lot of friends here that own a fair bunch also. It's a little bit complicated to understand all the laws etc but easy enough to figure it out.
Foreigners can't own land, but they can allocate about 49% of condos in a building that can be foreign owned.
The prices on condos is down about 25%, but houses are down like 60%! Houses are more complex to own because you have to do it through a company so that you can sort of own the land.
But yeah I plan to hold mine for a few years as it should be easily worth more than what I paid when things are back to 'normal' and if they get casinos here, which is a big rumour atm I'm hoping gets over the line because of Corona, prices should go even higher I hope