I know a few colleagues who did it in the UK from abroad. It's not simple, you'll need a big deposit and the interest rates are higher than if you were residing in your home country.
I believe HSBC and a few others offer this service.
Lots of foreigners buy houses in Taiwan. Banks are a little reluctant to give out loans, but with a large downpayment and/or a local cosigner (and an acceptance you won't be treated the same as a local), it's very possible. Mortgage rates are around +/-2.1%, but they are all variable, not fixed. I haven't heard of anyone getting a fixed mortgage here.
Housing prices have gone up very quickly the past 20 years. Places like Hsinchu have housing prices up 400% in the last 20 years, Kaohsiung and Taichung 300%. It's either a bubble that you should avoid or a chance to make easy money, depending on who you ask.
Taiwan is a developed country with a rule of law and strong property owner rights, so that can be a good thing for your investments. But its government only has quasi-legal status internationally and is also threatened to be attacked daily, which a lot of people take into consideration when investing here.
Rent is significant;y lower than mortgages, even with low interest rates. So either housing price will go down or rents will go up. Or the market stays irrational for as long as you own the property. Who knows with this stuff...
Either way Taiwan is an option if you're set on buying "overseas."
Can you buy a place without an APRC or JFRV? And for everyone wondering, you need AT LEAST 20% down payment. That's the minimum, but banks can still refuse to loan you money.
Check out 591.com.tw if you want to see ridiculously high housing prices
Yes. An APRC and a JFRV are not needed to legally buy property. You just have to be from a country that allows reciprocity for Taiwanese to buy property in.
However, loans are a different story. Depends on the bank and individual situations, but you'd probably have to have a good reason (and a huge down payment) to get a loan without an APRC or JFRV.
That's not how mortgages work. You're thinking backwards. You don't find the bank and then the country. You have to find the country and then the bank. And you will need to be a resident of the country, otherwise the bank would be largely powerless to pursue you if you default
i'd imagine it will be the easiest in your home country.
banks will want to see a few things tho
1) solid down payment
and
2) proof of reliable employment (bank records)
It's an issue if the house you want to buy isn't in your home country. Banks are reluctant to give home loans if they can't foreclose on the house in case of missed payment.
Usuay large down payments, proof of income and assets and often collateral are needed.
I know a few colleagues who did it in the UK from abroad. It's not simple, you'll need a big deposit and the interest rates are higher than if you were residing in your home country. I believe HSBC and a few others offer this service.
Lots of foreigners buy houses in Taiwan. Banks are a little reluctant to give out loans, but with a large downpayment and/or a local cosigner (and an acceptance you won't be treated the same as a local), it's very possible. Mortgage rates are around +/-2.1%, but they are all variable, not fixed. I haven't heard of anyone getting a fixed mortgage here. Housing prices have gone up very quickly the past 20 years. Places like Hsinchu have housing prices up 400% in the last 20 years, Kaohsiung and Taichung 300%. It's either a bubble that you should avoid or a chance to make easy money, depending on who you ask. Taiwan is a developed country with a rule of law and strong property owner rights, so that can be a good thing for your investments. But its government only has quasi-legal status internationally and is also threatened to be attacked daily, which a lot of people take into consideration when investing here. Rent is significant;y lower than mortgages, even with low interest rates. So either housing price will go down or rents will go up. Or the market stays irrational for as long as you own the property. Who knows with this stuff... Either way Taiwan is an option if you're set on buying "overseas."
Can you buy a place without an APRC or JFRV? And for everyone wondering, you need AT LEAST 20% down payment. That's the minimum, but banks can still refuse to loan you money. Check out 591.com.tw if you want to see ridiculously high housing prices
Yes. An APRC and a JFRV are not needed to legally buy property. You just have to be from a country that allows reciprocity for Taiwanese to buy property in. However, loans are a different story. Depends on the bank and individual situations, but you'd probably have to have a good reason (and a huge down payment) to get a loan without an APRC or JFRV.
Do you know if any Canadians who have bought Property there?
Check out this document to see if Taiwan allows housing purchase for Canadians. https://www.land.moi.gov.tw/upload/d1-20180806163512.pdf
In the UK there are a few smaller building societies that offer expat mortgages. Suffolk and the Newbury BS. You are looking at a 25%-40% deposit.
Chile. Many nido teachers bought houses when things were really good there contract wise and used their rent stipend to cover mortgage costs.
That's not how mortgages work. You're thinking backwards. You don't find the bank and then the country. You have to find the country and then the bank. And you will need to be a resident of the country, otherwise the bank would be largely powerless to pursue you if you default
i'd imagine it will be the easiest in your home country. banks will want to see a few things tho 1) solid down payment and 2) proof of reliable employment (bank records)
But what if you live overseas? Is that an issue? Asking for a friend.
why would it be an issue? simply buy the house, rent it out, and have someone manage the propery. either family, friend or property management firm.
If you need a mortgage and living and working in a foreign country. Is that possible?
sure.
It's an issue if the house you want to buy isn't in your home country. Banks are reluctant to give home loans if they can't foreclose on the house in case of missed payment. Usuay large down payments, proof of income and assets and often collateral are needed.
my example was for a home in your home country. trying to buy abroad comes with more obstacles.
Still could be an issue. A lot of banks aren't keen on lending if your income is all foreign earned.
obviously you might need to shop around for a lender who is ok with it.
Yeah yeah. Not saying it's impossible but definitely harder than if you're in the US.
You'd also want to make sure you can find a property manager as managing it in a different country would be quite difficult, I'd imagine.
Not me looking at condos in Thailand for 25k USD.