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There is no shortage of real estate products products estate real of shortage no buying is but There Asia East South in sale different for entirely two are owning condominiums, and villas, homes, it be as things, known (formerly ownership or clubs vacation destination region, fractions, the Within timeshare), above. the of hybrid a any remains ownership property emotional foreign with best at topic contentious sovereignty, national from ranging issues affordable housing keeping over concerns | JUNE 2011

Bill Barnett, founder and managing director of hospitality and property consulting firm firm consulting property and hospitality of director managing and founder Barnett, Bill C9 Hotelworks, negotiates the ownership maze in South East Asia. East South in maze ownership the negotiates Hotelworks, C9

The Minority Report Minority The Owning it - it Owning ownership | l Report Specia 68 been a restricted arena and hailedeven gonefor soliberalising what hasvisas. thus Thefar new legislation hasmarried been towidely national’s permanentchange residency which allowed foreigners butwho a are sign of the times washigh thehurdles recent for foreign property purchases, exemption apply. of autos, visas for domestic whistleshelpers, suchand astax import tax tofree state,purchase but some fairly niftyallowed. bells Thereand are variations visafrom andstate real estate ownership in schemea localare bank, after whichminimum a connectedbank balance needs to dependingbe retained on your age grouping,the a retirement or second home Secondsegments, Home program. Mainly targetingremembering that) or easier Malaysialeading My incentives through its MM2H (try angst over that Tom Cruise beingmovie. a minority, though I livedmust inadmit Asiasome for some 25 individualyears I’mhomes used or to villas. Indeed,this ishaving restricted to high riseoutright, projects but andthe notbad news isof inunits. most casesSo the good newsownership is, youis acan minorityown of thefundamental, total numberthe allocation of ofallowed condominiums, but as an underlyingPhilippines also allow freehold countries,ownership places such as and the complicated to lay out in thisby thearticle. Ministry of Law, butrestricted that isproperty far toothat requiresThere approval is also a process for Planningpurchasing Act, it’s fairly straightcondos, whichforward. have been approvedrestricted by the projects such as apartmentscomes in and two servings per se.under For thenon- Residential Property Act and to be permanently blinded. Ray Bans just thinking about brightit, inshiny order and not new that I appreciate,need to theput placeon my simply works.the regionIt’s haveall comeso to understandAsia. Whileand some may knock withit, asthe weCalifornia-like in Orange County of has historically presented fairly introduced one of the region’s Taking the Singapore example into other In the Lion Republic, ownership falls enhances the bottom line. and incremental revenue stream that hotel rooms. Hotels remain a perishable time-based to reward points to fill vacantownership structure that has shifted from crossover opportunity of a club or vacationand more hospitality groups now apply trackthe record of reliable operations. More Resorts and Laguna Phuket have a strongVacation Club International, Karma of quality organizations such as Marriott the region. Fairly said though, a numbercomes to shared ownership structures in a slew of mystic combinations when it transparent financial investment. ownership interest and attempts (specialto create purpose a vehicle) which whichisolates shares an are denominated inthe an additionSPV of an offshore anelement overlay. in Add onto that, membershipin some rightscases, in many casesofferings. create The use of leaseholdlegal structureterms or has created a ownershippotpourri or of the lack of appropriateuse, in many cases, restrictionscome on throughforeign a deeded interest fractionalor right ownership of in the westthings can simplyoften get more complicated. While allowed to own in their own opportunity.country? After all, why willshouldn’t most likelythey be only look atselling a fulldown ownershipto a local is propertyin your versussights, a theyleasehold, andon alsosecuritization if of assets on far a easierfreehold for local banks toand takeconsider a viewin-time resale. Itof remainsexpatriates to leverage their property where there is a will there offshoreis a holdingway. companies. Let’scorrect just downsay to a gray area of of schemesnominees are and on offer, forfrom resort the propertieslegally in the toregion. lease Varietieshomes or villas to foreigners, mainly economy. in the wind in ’sinvestors. largestWider changes, however,far asremain extend this onto qualifying foreign Bill Heinecke’s Anantara Hotels and There remain successes, failures and As you move into alternative ownership, With ownership often comes the desire Of course there continues to be the ability marketplace. all the difference in the oftenplanned confusingand informed decisions yourcould homework,make view the options.look Carefullyand listen before crossingwhen the you road.were Do young and taughta propertyto wait, purchase, go back realto theestate time investors. If you trackingare consideringthese reforms to attractmoving foreignswiftly when it comes marketsto fast of Cambodia and Vietnamold men,are property reforms in the emerging vacation ownership programs. are progressing, especially over backthe – widerbut in most counties attemptingconsumer tolaws stage a late minutea team come trailing at halftime, legislationwho are in Southeast Asia lifestyleoften mimicsproperty investment. Consumertapping into the synergies betweenResorts hotelare andgood examples of Resortstwo groupsand Ho Kwon Ping’s Banyan Tree www.luxlife.hk , Phuket, Singapore and Vietnam. estates or city apartments in locations such as include sea-side villas, eco-retreats, mountain actually staying at the resort. Current options members can use any facilities there without portfolio of villas. All feature lifetime access to the company’s memberships and exchange memberships. equity based memberships, leisure/travel available: equity-based memberships, non- founder Gary A. Ferraro. home, now you can have them all,” said LUXLife payment on just one luxury multimillion dollar yachts, jets or country clubs. services and products such as private islands, and gain access to a variety of prestigious members can invest in these luxury properties beyond. Rather than spending on vacations, exclusive villas set around South East Asia and with 5-star service and resort facilities in travellers all the comforts of home combined -based company LUXLife offers Sharing the lux thephuketinsider.com publications including his own expertnews sitein the region, he writesBill forBarnett various is a leading hospitality sector Special Report|ownership While some say Asia has no country for As most villas are in branded resorts, Four different types of memberships are “For less than the price of a mere down

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