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Anyone here got foreign spouse? Do you buy property over there?

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Old 13-06-2018, 09:15 PM   #1
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Anyone here got foreign spouse? Do you buy property over there?

Is either we buy ec that is further away from city compared to where we stay or we buy property in her country.

we currently staying in hdb. After some savings and mop, we can move on to ec that is around double the price of the current hdb. However we are thinking this additional money may be better off buying a property in her country malaysia. We know penang landed for forigners is 2mil but she can buy one under 1mil using her passport. Seems like a good buy. Think landed house in penang will have demand.

Any thoughts?
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Old 14-06-2018, 01:50 AM   #2
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Is either we buy ec that is further away from city compared to where we stay or we buy property in her country.

we currently staying in hdb. After some savings and mop, we can move on to ec that is around double the price of the current hdb. However we are thinking this additional money may be better off buying a property in her country malaysia. We know penang landed for forigners is 2mil but she can buy one under 1mil using her passport. Seems like a good buy. Think landed house in penang will have demand.
Well hang on, you're talking about two different things here. Are you buying a house to live in, or buying an investment? You wouldn't live in Penang and commute to Singapore, I imagine...
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Old 14-06-2018, 07:44 AM   #3
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Landed properties: Penang raises entry prices for foreigners

GEORGE TOWN • Penang has jumped the gun by raising the minimum price for foreign purchases of landed properties in the state from RM2 million to RM3 million (S$632,000 to S$948,000), even as the federal Malaysian government is mulling over increasing the floor price for foreigners.

https://www.straitstimes.com/asia/se...for-foreigners
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Old 14-06-2018, 08:39 AM   #4
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I suppose at a huge savings of 2mil SGD, it makes sense to buy a freehold property in penang and commute to Singapore daily? Even if airfares are as high as $100, it would still make sense. The difference can be invested to get some good returns.

But this can only make sense if your property is very very near the Penang Airport (oh the noise =() and your work place is at Changi Airport.
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Old 14-06-2018, 08:46 AM   #5
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But worth to get foreign properties with all the taxes?
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Old 14-06-2018, 01:21 PM   #6
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Are you buying a house to live in, or buying an investment?
A very good question. Here's another, related question: what percentage of your total household net worth is already invested in real estate, including your owner-occupied HDB unit?
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Old 14-06-2018, 01:56 PM   #7
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Not worth it, you will have a very hard time trying to find a bank that can match landed valuation or to lease in Penang.

JB, KL, PJ or Melaka is better in terms of rental
Market.
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Old 14-06-2018, 02:07 PM   #8
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I suppose at a huge savings of 2mil SGD, it makes sense to buy a freehold property in penang and commute to Singapore daily? Even if airfares are as high as $100, it would still make sense. The difference can be invested to get some good returns.
.
Trust me. Lots of people hAve run this scenario through their heads too.

Only problem is that the actual door to door time (by plane) from Tanjung bungah in Penang to Raffles place in SG is about 4 hours ONE way and that's 8 HOURS everyday

It is very difficult to do this "lifestyle arbitrage" tbh..

I know of an old friend staying in Horion hills and driving daily to Dbs one in changi. He tells me he sleeps 5-6 hours daily for the past 5 years......

Last edited by ocs_woodlands; 14-06-2018 at 02:14 PM..
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Old 14-06-2018, 02:36 PM   #9
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Landed properties: Penang raises entry prices for foreigners

GEORGE TOWN • Penang has jumped the gun by raising the minimum price for foreign purchases of landed properties in the state from RM2 million to RM3 million (S$632,000 to S$948,000), even as the federal Malaysian government is mulling over increasing the floor price for foreigners.

https://www.straitstimes.com/asia/se...for-foreigners
But his spouse is a Malaysian. So there is no minimum price in wife's name. The main concern is what the house for? Rental yield is lower than money in the bank?
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Old 14-06-2018, 02:38 PM   #10
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But worth to get foreign properties with all the taxes?
Penang is not foreign to the spouse whom he said is a Malaysian.
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Old 14-06-2018, 02:48 PM   #11
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The main concern is what the house for?
Good question. When I went to see Danga Bay way back in 2013 and leisure farm in 2015, I could not answer this question myself too... and I didn’t buy any....

and increasingly, I am looking at Malaysian properties through the lens of car ownership vs car usage in SG.

I m a firm proponent of the idea that one need not buy a cow to enjoy its milk aka one dozens not need to buy a car in order to use a car.

When I apply that logic to properties in Malaysia/JB, the case Against property purchase in Malaysia looks quite strong....

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Old 14-06-2018, 03:07 PM   #12
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Good question. When I went to see Danga Bay way back in 2013 and leisure farm in 2015, I could not answer this question myself too... and I didn’t buy any....

and increasingly, I am looking at Malaysian properties through the lens of car ownership vs car usage in SG.

I m a firm proponent of the idea that one need not buy a cow to enjoy its milk aka one dozens not need to buy a car in order to use a car.

When I apply that logic to properties in Malaysia/JB, the case Against property purchase in Malaysia looks quite strong....

Totally agree. Malaysian property as an investment makes no sense because one cannot trust the Malaysian govt when it comes to long term policy (especially when it comes to foreigners), it makes even less financial sense if you are buying for owner occupation because yields are extremely low.
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Old 14-06-2018, 03:44 PM   #13
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Totally agree. Malaysian property as an investment makes no sense because one cannot trust the Malaysian govt when it comes to long term policy (especially when it comes to foreigners), it makes even less financial sense if you are buying for owner occupation because yields are extremely low.
Maybe because my JB property was bought on 100% equity loan, I find the rental yield ok since it is highly leveraged.

Rm 2500 /mth for 2 years and rm 1800/mth for another 2 years. = rm 103200 over 4 years or S$34400

S$1800/mth mortgage for 4 years = S$86400

Minus some property taxes etc, the returns r still decent to me. About 8.7% pa over 4 years if my calculations r right.

Last edited by mummy1234; 14-06-2018 at 04:19 PM..
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Old 14-06-2018, 05:44 PM   #14
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Maybe because my JB property was bought on 100% equity loan, I find the rental yield ok since it is highly leveraged.

Rm 2500 /mth for 2 years and rm 1800/mth for another 2 years. = rm 103200 over 4 years or S$34400

S$1800/mth mortgage for 4 years = S$86400

Minus some property taxes etc, the returns r still decent to me. About 8.7% pa over 4 years if my calculations r right.
You have to take into account the exchange rate loss (MYR tanked pretty hard in the last 4 years) if your equity loan was in SGD.

I doubt it would have been worth it if the loan was in MYR, interest rates in Malaysia are pretty high.
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Old 14-06-2018, 05:56 PM   #15
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I would think your wife's family is best placed to advise how the market there is going and what the rental demand is etc. Also where is your wife's family based, for landed be best is have someone nearby to check in on the property from time to time.

Is either we buy ec that is further away from city compared to where we stay or we buy property in her country.

we currently staying in hdb. After some savings and mop, we can move on to ec that is around double the price of the current hdb. However we are thinking this additional money may be better off buying a property in her country malaysia. We know penang landed for forigners is 2mil but she can buy one under 1mil using her passport. Seems like a good buy. Think landed house in penang will have demand.

Any thoughts?
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