Stick to established markets when buying Asian property, says expert
13/08/09 19:45
The safest way for British expatriates to invest in Asian property markets is to buy in countries that are most established, the director of overseas property resource Nubricks.com has advised.
Chintan Mahida noted that Brits are increasingly interested in more well-known countries, such as Malaysia and Singapore and said purchasing property in China is more difficult.
"China is obviously notorious for its closed approach to doing business, so it is quite a complex place to buy," she commented.
That said, Ms Mahida noted that as long as you worked with someone with local knowledge and are prepared to understand the culture "you would fare better than buying internationally from abroad".
Should buyers want to try for Chinese property they would be best to buy in a larger city such as Shanghai, she suggested.
Even before China opened itself to foreign investment British expatriates were living and working on the mainland - Hong Kong's New Territories were part of the landmass absorbed by Chinese authorities after the colony was handed back.
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