Property taxes can have a huge impact on overseas investors’ buying decisions. With the growing interest in Asian markets, and especially developing markets, we need to keep in mind that tax rates can change fast.
Not only do developing countries change property taxes to attract more foreign capital or boost their economies. We also see sudden changes and the introduction of new taxes in places like Hong Kong, Singapore, and Korea.
This is mainly to avoid speculation, cool down the markets, and protect local citizens.
Interestingly, there are some countries that don’t charge any annual property tax to locals, or to foreigners for that matter. In other countries, the property tax is almost negligible.
