Properties In Asia

Many years ago, the spouse and I invested in a condo in Asia before migrating back home to Canada.  It wasn’t a cheap one either – I think we paid closed to $400K for it and did a $80K renovation.  Why did we buy the condo – even though we were migrating?  at that time we weren’t planning to – and the property market was booming in Asia.   We really didn’t see any harm in investing – of course 9/11 came about – and everything just went downhill from there.

We couldn’t sell the condo then – because we would have lost all our money – so we kept it – while in Canada.  Couldn’t really rent it either – coz’ we tried and the renters trashed our place and wouldn’t pay the last few months of rent – stole our air-con when moving out.  So we didn’t rent it out no more for the longest time.  10 yrs later today – the property market is doing well again – so is it time to sell?  I asked my agent from home – but according to her a condo this old – will not have the same value – so moral of the story – if you are not in Asia – and thinking of investing in Asia – either make sure you have someone to look out for your condo – or else never invest.  We are stuck in the middle and don’t know what we should do – so we are going to continue paying for it – till we get back to Asia at this point of time.