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Article: Asian developers woo Japanese retirees.(Business News)
- Article from:
- Manila Bulletin
- Article date:
- December 28, 2006
CopyrightCOPYRIGHT 2006 Manila Bulletin Publishing Corp. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BANGKOK, Dec. 27 (Reuters) -- Southeast Asian developers are targeting Japanese retirees, hoping the lure of cheap homes and health care will create a profitable new niche market.
Although Australia's Gold Coast and Hawaii have been favored destinations for Japanese in the past, Thailand, the Philippines and Malaysia are now promoting competing "long stay" programs, offering foreign retirees visas and tax breaks.
Home builders are hoping today's trickle -- just one in 3,000 Japanese pensioners live abroad -- becomes a steady flow because over-50s hold 75 percent of Japan's individual wealth.
In the Philippines -- which wants to attract nearly a ...