Last updated May 25th, 2020.

With its booming economy, natural resources, and growing population, Asia has captured the business world’s attention.

As such, the continent is now a magnet for global investors and entrepreneurs seeking higher returns and lower costs of doing business.

Digital nomads, for instance, have flocked to Thailand to start location-independent businesses while investors are looking towards Cambodia and Vietnam to take advantage of urbanization and strong demographic trends.

However, while investing in Asia can be lucrative, the region can also be a bit more difficult to navigate for foreign investors. Language barriers, non-western business norms, and restrictive laws can be a major turn-off for even the most adventurous capitalists.

In the world of real estate, for instance, foreigners can often miss out on opportunities due to restrictions on foreign land ownership. Most Asian countries allow non-citizens to buy condos, yet very few of them allow foreigners to legally own houses or land.

Therefore, if you’re buying a house or a plot of land in Asia, you must look in the five following countries that allow foreign home and land ownership.

While we don’t necessarily recommend all of these countries for real estate investment, we’ve still included each of them on this list. Just so that you know all of your options when it comes to buying land and houses in Asia.

1. Malaysia

If you’re looking to buy land or houses in Southeast Asia, then you must invest in Malaysia. It’s the only place where foreigners can own land in Southeast Asia.

Malaysia is one of the most investor-friendly countries in Asia. The country generally welcomes foreign capital while restrictions on land ownership are few. In fact, the only type of properties foreigners can’t buy are “heritage properties,” or historic real estate from the colonial era.

In addition to Malaysia’s openness toward foreign investors, it’s a solid option if you’re seeking second residence from your real estate investment. The nation is very developed by Southeast Asian standards as well.

You can get Malaysian residency by investment through its My Second Home Program (MM2H) which lets you obtain a 10-year visa by making a deposit of roughly US$70,000 and maintaining it in the bank.

Generally, I recommend Malaysia as a good bet for investors looking to buy land or houses in Asia. While the real estate market isn’t as lucrative as some of its neighbors, it’s priced well and still growing. Getting a residence permit in Malaysia is a fairly straightforward process too.

2. South Korea

Like Malaysia, South Korea doesn’t have many restrictions on foreign land ownership either. This openness to foreign investment makes quite a bit of sense given how internationalized Korea is.

South Korea’s modern cities, friendly people, and innovative culture attracts expats from across the world. Naturally, these foreigners often want to buy their own property.

Unfortunately, becoming a South Korean resident is rather difficult as a foreigner. Like most of its neighbors, the Republic of Korea is picky when it comes to issuing long-term visas.

However, there is one exception – Jeju Island. This small island located off the southern coast of the Korean Peninsula is a special administrative region that allows nearly everyone to visit without a visa (even citizens of mainland China, who often have a hard time getting anywhere).

Likewise, Jeju also offers an investor residence permit for anyone willing to invest roughly USD $430,000 worth of real estate on the island. Such a residence permit can even lead to Korean citizenship.

If you’re dead-set on living in Seoul or Busan, however, you must go through normal channels to get residency in Korea.

South Korea, then, can be a good place to invest in land or houses for the right person. While Seoul’s rental yields are low, you can make better returns in developing areas on the outskirts of the city core.

And of course, if you’re open toward living on Jeju Island, you can also get a residence permit and start a process which can eventually give you a South Korean passport.