Moving to Asia can be a thrilling experience to expats. From getting a stable source of income, to securing healthcare, education, and finding a decent property. If you are thinking about making the big move, take note to do research for a smooth transition.
Updates in Asia property
Hong Kong is always on the list when it comes to the most expensive places for expats to live in. Those who reside in the areas where Hong Kong international executives live, the average rental fee of a 3-bedroom apartment without furniture is $10,929 per month, an increase of 4.9% over the previous year.
According to ECA’s Regional Director, Lee Quane, rental rate is expected to rise throughout the neighbourhood of central Hong Kong in 2019.
Tokyo, the centre of business and government in Japan is popular among foreigners because of its rich culture and history. Besides, the country is known for their advance infrastructure and safe community.
Rental fee between Hong Kong and Tokyo, the latter is higher based on interest rate. With an increase of 6.9%, the average cost of living as an expatriate in Tokyo is $8,668 per month.
On the other hand, the Lion City is not just a destination but also a considerable place to settle. Foreigners who are in deep influence of the global market find Singapore an exciting place to live in. In fact, according to HSBC’s survey last year Singapore is named as the best country for expats. Ranking criteria covered personal finance, local economics, and career.
However, because of the sudden turn in global economy non-residents or the expat demand dwindled. As a result of the 0.1% drop of the non-resident population, the average monthly housing fee in Singapore is now at $4,215.
Aside from the pulsating development of the county and booming tourism market, the global financial hub of China is also getting more attention from all over the world. Shanghai expats or “laowai” get attractive pay packages and their average monthly rental rate is $5,305.
Similarly, the modern metropolis of Shenzhen which links Hong Kong and mainland China has a growing population of foreign workers. Because of this, a spike of 10% was implemented which now sets the average lodging fee at $2,795 per month.
New contender in the market
Due to the influx of expatriates, increase in tourism market and booming property market, Thailand is now one of the most expensive spots in Asia. Currently, the average monthly rental fee for an unfurnished 3-bedroom apartment is $3,880.
But in general, cost of living and rental properties in Thailand are better-priced as compared to other countries.
Rental platform to watch
Not only can expats find a unit for lease, but also property owners and agents can communicate easily and efficiently with AP36; an integrated overseas leasing platform launching soon!