Property Market in Thailand
The beautiful country of Thailand has a thriving economy of exports worth over $105 billion, it’s the largest exporter of rice and a major exporter of jewellery, electrical items and textiles. There are many popular cities in Thailand that attract hundreds of tourists every year, no more so than the capital of Thailand, Bangkok.
There is a vast amount of property for sale in Thailand. The housing market is driven by tourism, a huge and growing economy, thanks to its attractive climate, and gorgeous cuisine. The number of tourists visiting the country continues to increase with people herding to the countryside, cities and islands. Bangkok has a high demand for commercial property as well as residential developments.
As an example, property for sale in Phuket can offer investors a great opportunity to benefit from the recent influx of tourism. Phuket is an island, a province located to the south of the Thai mainland; it is one of the country’s most popular tourism destinations. There is a huge demand for Investment properties and holiday apartments to cope with the number of visitors and currently there isn’t enough supply – which created numerous opportunities for potential investors.
Thailand is generally rife for business, investment, commercial and investor opportunities as the already booming market continues to grow rapidly.
Property investment in Thailand does come with some legal considerations, particularly for overseas investors. Properties for sale in Thailand are not so easy to buy in your own name, compared to other types of commercial property. As a result of this, many people establish a limited company to purchase property. Upon registration of the company, property can then be purchased and owned by the registered company much easier than if an individual attempts to buy a house.
Possibly one of the biggest property investment opportunities in Thailand comes from selling land for new build properties. The booming tourist industry only increases the requirement for newly developed properties. Buying land however, is rather difficult for overseas and international investor’s, however leasing land is much easier and a very popular choice. The maximum lease in the country is 30 years, however contracts commonly include a 90 year lease period. During the lease period, the leaseholder has full rights to use and develop the land, thus making a practical alternative to legal ownership. High demand and inexpensive prices in Thailand mean that this is a very profitable option for investors, delivering long-lasting returns.
Many investment opportunities are in the busier areas and larger cities however, a number of exciting investment opportunities are starting to turn up in other areas. Ko Chang, for example, is a large island in Eastern Thailand with a relatively small population, is now growing into a popular tourist destination. Smaller and more unknown location such as this present fantastic investment opportunities, as new housing developments are being introduced every year.