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Europe, Asia, and Australia (continental Europe, Asia, and Australia):

“So, I've been living in continental Europe, Asia, and Australia for the past five years (all in leased houses/apartments). I'm delighted to report that I've never had a problem locating a place to stay. Accommodation is always accessible in my experience; all it takes is some research and effort. apartments for

“I think Airbnb is a terrific choice for seeking short-term lodging. Outside of the platform, I recommend negotiating with landlords/real estate agents for a cheaper rate if you pay in advance for a 2 – 8 week period. When it comes to longer-term housing, I believe that word of mouth is a terrific method to uncover options; conversing with friends or coworkers can open some doors. Then, if I'm in between residences, I'll crash in a hostel till I figure anything out. Hostels are also an excellent way to find individuals to live with; during the Melbourne lockdown, I shared a room with a gentleman who I ended up living with for four months.

“A lot of my acquaintances in their late twenties and early thirties are content to rent and enjoy a good quality of life without the burden of paying the bank for 30 years. It provides me a lot more freedom in both my personal and professional life. On the other hand, Sydney's real estate market is booming. The majority of properties in this area are sold at auction, and the prices can be rather high. Many properties are selling for 20-30% more than the asking price, scaring off many first-time purchasers. Purchasing property is a terrific idea if you have the funds or a sound investment strategy, and I believe this is something that is happening a lot in Australia. Buying a home is still a popular option in this area, with many young people opting for smaller homes or migrating to west Sydney, where property costs are lower.

“Rent in Australia is relatively affordable, both in terms of earnings and in comparison to Ireland. Because I choose to live near the ocean, my rent is more. I pay $250 per week, including all costs, to live in a shared house with 5 other individuals less than a 10-minute walk from the beach. I pay little over €600 each month, which I consider to be a good deal. In Sydney, Perth, and Melbourne, monthly rents for a room in a shared house/apartment near the beach can range from €500 to €1,000.

“I believe the thinking in Ireland in relation to housing and owning a new build needs to change.”

With two children and both of us working for ourselves, our mortgage approval was reduced to €147,000, despite the fact that the rent we'd been paying for the previous few years was more than the mortgage repayment. (29)

Kevin, Hong Kong: ‘Around here, almost every house is an apartment.'

“I relocated to Hong Kong in 2011 and have spent nearly 11 years commuting between here and the south of China. It's a pretty wonderful location to live, and despite what you might hear in the news about protests and such, living for a foreigner is wonderful here. I've been renting since I arrived in Hong Kong and spend the majority of my time on or near Hong Kong Island. For a size of 300-700sqft, the rental range has been between 15000HKD (€1600) and 25000HKD (€2600) per month.

“Given the restricted area, almost all houses are apartments here, and the finer apartments are enormous complexes with swimming pools, a concierge, and a clubhouse, which obviously raises the cost.

“In Hong Kong it’s feasible (and very common) to reside on one of the outer islands. There is a huge ferry terminal near to the CBD that runs 24/7 with a higher frequency during rush hour. Late last year I took the jump and moved to one of the lesser recognized islands. It’s just a modest tiny fishing community without any of the normal chains of shops or restaurants. The population is approx. 25k individuals and just 200 of those are immigrants. The rent here is less, around 18000 HKD which is roughly €1900.

“On the ‘buy’ side, I purchased a home in Ireland three years ago which is being rented out and I plan to buy another in the coming months. I have utilized money for this as its tough to get finance while not an Irish resident. The EU came in rules that meant banks were obliged to manage their FX risk, which, in my case would have been CNY or HKD. Given the challenges with this I assume they toned back this provision. There are a handful of brokerage businesses who will give exorbitant rate mortgages to foreigners via SPVs nevertheless you would pay 4.4-4.6 percent depending on the tenure. Ideally I would buy in UK as the stamp is inexpensive and there will be an influx HKers arriving on BNO passports once it all opens up again but I am scared to buy through virtual viewings.

“In HK anyone can buy, although you will be hike with a 15 percent fee unless you are a permanent resident. Foreigners are eligible for PR after seven years. House prices are pretty expensive here. A 700sqft house in a new neighborhood on HK Island would cost roughly 1-1.5million EUR thus you are really depending on the house price growing in value.”

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