Thanks to the wonderful climate and the beauty of nature, Thailand is one of the most popular holiday destinations. More than 20 million tourists come here every year. Therefore, buying flats for investment in Thailand for rent is very effective.
The country has an excellent infrastructure: good mobile communications and the Internet, an excellent road network, many shops, services, and places for recreation and entertainment, and a relatively high level of education and medical care.
The low cost of living and low real estate prices is another plus that makes this country very popular among downshifters, freelancers, retirees, and investors.
As for the region and the city, the most popular places include Phuket, Pattaya, Chiang Mai, Hua Hin, and other resorts. There is no better way to choose than to visit this beautiful country!
A potential buyer should focus on more than just the cost of square meters. We recommend paying attention to the surrounding infrastructure, the volume of tourist flow, and the restrictions that apply to foreign investors.
What restrictions do foreign investors face?
Thailand is one of the few states that, despite the situation in the world, maintain a loyal attitude towards foreign citizens. There are no restrictions on this category of investors.
How to pay for the purchase of overseas property? This issue is also solved: you can transfer money through a bank.
At first glance, everything is simple, but there is a nuance: when considering a developer offer, it is necessary to ensure that its shareholders are not citizens of countries unfriendly to some countries.
Developers undergo due diligence (assessment of investment risks) to reduce risks.
Scheme of buying an apartment, villa, or house
Foreigners can buy both apartments in new buildings and objects of the secondary market. At the same time, it is unnecessary to come to Thailand personally to conclude a deal.
The buying process can be conditionally divided into the following stages:
- Choosing the proper object.
- Preparation of supporting documents for the bank.
- Deposit payment.
- Preparation of a contract for payment of the full cost of the object.
- Preparation of documents for registration of ownership of the acquired residential premises.
The transaction algorithm does not depend on the category of the property. The only difference is that when buying an apartment in a house under construction, the investor takes the premises from the developer and signs the troubleshooting report.
Price will increase soon
In 2023, the price of apartments in Thailand will increase. Starting from the new year, new state prices for land and buildings are in effect, which is, on average, 8.93% higher than in the previous period. These prices will remain for the next three years. Also, the cost of real estate will be affected by increased prices for energy carriers, building materials, and the cost of work. Real estate prices will rise slowly as developers resist growth to attract customers. So, if you have been considering buying property in Thailand, now is the time to act.
How much money does an investor need?
Experts say the minimum threshold for entering the Thai real estate market varies between $100,000 and $140,000.
With this money, you can buy an apartment:
- the area from 25-35 meters;
- equipped with the necessary furniture;
- located in a popular tourist location;
- which is part of a modern residential complex with its infrastructure.
The cost of private villas starts from $200,000.
Buyers should be aware that Thailand’s price per square meter is constantly increasing. Would you like to know the current value of residential properties? On the Thailand-Real.Estate website, you can not only choose the most suitable apartment that meets investment requirements but also compares prices by the city in Thailand.
The site is designed to make the search for real estate more comfortable and faster. If you contact the managers of the aggregator, they will help you choose the perfect property in any city in Thailand. Experts will answer all your questions and give valuable advice.
Harsh Srivastava is a recent graduate from the field of Computer Science & Technology. He takes a keen interest in exploring technology to its very depth and also likes to write about it. Harsh currently works as a freelancer and also has his own YouTube Channel.
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