Foreign Property News | Posted by Si Thu Aung
The five gay-friendliest property markets in Southeast Asia, as determined by leading Chinese property portal Juwai.com are as followings.
1. Bangkok
While Thailand currently does not recognise same-sex marriages, it is the de facto gay capital of Asia. Same-sex intercourse is not punishable by law in the kingdom, unlike certain Asian countries; Buddhist monks even officiate same-sex weddings. Many nightspots and hospitality businesses are unabashedly geared toward gay visitors.
It is little wonder then that many LGBT Chinese would love to call Bangkok home. According to Juwai.com, 45 percent of buyer inquiries from LGBT Chinese for Bangkok properties are for the purchasers’ own use.
2. Phuket
For LGBT buyers seeking sand and surf more than skyscrapers, Phuket is one of the better locations in the world to purchase great holiday homes. Members of the LGBT community seeking to fulfill both lifestyle and investment goals are well-served in the city and island of the same name.
Dozens of LGBT-oriented venues dot Phuket, especially in the Patong resort area. Every April, tourists flock to the island for a weeklong Pride festival. LGBT buyers most commonly purchase new properties, with developers dangling rental guarantees; many home owners go on to rent out the units when they are out of Phuket.
3. Manila
While Catholic conservatism reigns in the Philippines, many denizens in the capital have overcome religious beliefs enough to accommodate the fast-changing milieu. Marriage equality is still not legal in the Philippines, but Manila made history in 1994 for hosting Asia’s first gay pride parade. More recently, firebrand President Rodrigo Duterte has made some of the strongest pronouncements by an incumbent leader in favour of same-sex marriage.
Chinese buying inquiries about Manila properties on the site were up 122 percent quarter-on-quarter in the first three months of 2018.
4. Phnom Penh
In 2004, King Norodom Sihanouk made public statements in support of laws extending marriage rights to same-sex couples. Cambodia, especially its capital, has since become one of the more progressive safe spaces for LGBT Asians.
5. Ho Chi Minh City
In 2015, the Law on Marriage and Family was implemented, effectively decriminalising same-sex weddings in Vietnam. Although it technically does not offer legal protections to the unions, the measure foreshadows a mellowing in Vietnamese attitudes toward the LGBT community, many of whom have found sanctuary in Ho Chi Minh City.
Chinese LGBT buyers, for one, believe investment prospects in Ho Chi Minh City are good; yields reach up to six percent through eight percent, according to Juwai.com.
Ref: Propertyreport
