Thailand is a destination appreciated by many foreigners. The contrast of cultures and behaviors amazes and forces citizens of other countries to join the celebration of life and resort lifestyle. Here the ancient temples neighbor exotic shows, and daytime spiritual practices are replaced by grandiose night discos. Mild climate, endless beaches and low cost of living in Thailand attracts thousands of foreigners wishing to buy property in this paradise corner. Ownership of property by the sea in Thailand is a fairly safe and solid means of growing your fortune.
Real estate for sale in Thailand
Monitoring the real estate market of Thailand, you may notice that it offers housing objects for every taste and budget. You can choose a modest apartment somewhere on the outskirts or a spacious apartment of several rooms in the capital`s center.
Besides, whether you intend to invest in a home of your own or to rent it out for tourists, you will not face any shortage in real estate of the luxury segment at reasonable prices.
Those wishing to purchase a relatively inexpensive apartment or private home, choose Pattaya. For fans of luxury – a wide range of real estate on the fashionable resorts: Phuket and Samui. New buildings and secondary housing in Bangkok also attract buyers, but mostly in the Thai capital investors are more interested in commercial real estate.
The most reliable method of real estate purchase
The government of Thailand used to approve several ways of acquiring ownership of real estate by foreigners. The establishment of a Thai company was the most popular and the easiest one. However, most investors have understood the risks of such a deal and abandoned it. Today there remain two legitimate ways to buy real estate – the purchase of shares in the condominium or a long-term lease, the maximum recorded period of which is 30 years. But many foreigners are not willing to invest in condominium projects, especially in areas such as Phuket, Samui, Pattaya or Koh Chang, where preference is given to the resort-style properties, particularly villas.
For this reason, leasehold appears to be the safest method of obtaining real estate in Thailand. To get the profitable investment in the foreign real estate market, it is advisable to evaluate the profits and estimate the risks.
Profits of buying real estate in Thailand
When it comes to buying real estate in Thailand, there is an ocean of opportunities and a whole pack of benefits. Foreign investors are looking for a way to provide a reliable cushion for seasonal or unexpected fluctuations in revenue and they find it in Thailand.
- High return on investment.
Real estate in Thailand is a rational choice if you want to have solid investment options. There is no decrease in prices on Thai property is foreseen in the near future. The resort location of the country welcomes tourists or so to say potential tenants all year round. This is why real estate in Thailand has a huge demand among both local and foreign investors.
- The constant development of the country.
Thailand is characterized by a well-developed transportation system that connects major commercial, residential and industrial centers. Besides, the government works on reducing the number of traffic jams on the main roads and decides on more advanced means of transport.
The kingdom is also known for high quality medical services, fast internet connection, good business opportunities, and multiple variants of comfortable accommodations.
- Relatively low cost of living.
The cost of living in Thailand may be called relatively low as here you need less money than in other resort destinations. Besides, the level of life and the prices differ depending on the region, so a resident with any income can find the suitable option. Of course, over the past few years, the cost of living in Thailand has increased, but the prices of many services, seafood, vegetables, fruits and rent are relatively democratic. A studio or one-bedroom apartment in Thailand can be rented for an average of $200-400 (per month), depending on the region.
Risks when buying real estate in Thailand
Any purchase of real estate is followed by certain risks. Therefore, it is advisable not to be blinded by appealing advantages, but be ready to face the responsibility.
- Legal risks.
There are myths that in Thailand there is no private property as all land belongs to the King. However, this information is wrong. The amount of foreign capital in the country perfectly shows that most of the land belongs to companies and individuals.
- Risks in the process of construction.
If you invest in real estate under construction, it is important to be aware of some possible issues, like delay of the delivery or absence of the EIA. To avoid purchasing a property without the Environmental Impact Assessment or EIA, check the documentation provided by the developer and ask a professional for help. The delay of construction finishing is rather an exception, and in this case a developer has to pay fines to the buyers.
- Risks of obtaining less income than expected.
The marketing risks appear when some estimation mistakes have taken place on the stage of creating the project. It means that the delivered real estate will not bring as much profit as it intended. However, with the responsible approach to selection and sufficient consideration, these risks are easily avoided.
The final word
All the risks can be eliminated and all the profits can be increased if you select property with the help of the correct resource. The major aggregator Thailand-Real.Estate cooperates with the trusted Thai developers to offer the reliable housing units. An ocean of accommodation variant to any taste and money are available on the website.
On the whole, due to the uncertain economic situation in the world, the purchase of real estate abroad may be the furthest thing foreign investors think about. But what if this option is the best way to establish balance and even force growth of your capital nowadays? The statement definitely needs to be carefully thought out.
James is the head of marketing at Tamoco