Thailand is known as the Land of Smiles. People flock here from all over the world, but there is more to the country than just its beautiful beaches and cultural charm. The country’s real estate market is drawing more investors each and every year. Here are just a few of the reasons why Thailand is a good place to invest in property:
1. Location, location, location
There is no doubt that Thailand is famed for its stunning islands and pristine beaches. Luring in people across the globe who want to enjoy their own slice of paradise. Of course, there is more to Thailand than the images found on the front of glossy travel magazines, Thailand also offers buzzing cities as well as laidback enclaves. From the bustling metropolis of Bangkok to the island of Samui or the slower pace of Chiang Mai, each oozes its own appeal. Thailand has a location to suit everyone.
2. Regional hub
Thailand enjoys a strategic and accessible position within Southeast Asia and the Kingdom has fast become a regional hub. Many businesses are based here and take advantage of more affordable running costs compared to the region’s powerhouses of Hong Kong and Singapore. Sky-high property prices and soaring cost of living in these hubs makes Thailand is an attractive alternative.
3. Booming economy
The economy is making leaps in the right direction. Thailand’s location sandwiched right in the middle of Southeast Asia and low manufacturing costs makes trade easy. It’s easy to see what there is such a huge international presence and why business in the country is booming.
4. Travel possibilities
It is easy to get around the region and further afield from Thailand. A host of airlines offer travel at a reasonable price tag. Plus, the bigger airports in Bangkok, Phuket and Chiang Mai operate direct flights to Europe, Russia, China and other parts of Southeast Asia. This enhances business and tourism opportunities. Currently tracks are being laid for a fast rail link from Thailand through Laos to China which will also improve international travel.
5. Tourist numbers
Year after year Thailand breaks tourist number records. Hotels spring up to cater for the demand creating potential for property owners wanting to cash in on this success. Resort-style properties such as condohotels are becoming increasingly popular and allow owners to have a holiday home in Thailand while generating income the rest of the year.
6. Sophisticated market
Thailand’s property market has improved over the years. There are some prominent developers who have upped the ante, building to a high-quality standard comparable to other markets such as Hong Kong, Singapore and Japan.
These developers are building properties to suit market needs. Carefully selecting the right location for the right product. For example, more compact and easy to maintain condos are being built along the mass transit network to cater for the needs of professionals wanting a quick commute to their workplace. Likewise, there has been an increase in new luxury properties to meet the growing demand of this segment of spenders.
7. Healthy returns
With an attractive price point and healthy rental returns, it is not surprising that many international investors are turning to Thailand to invest in property. Whether this is a city condo or a beachside villa, the rental yields that are generated are higher than markets such as London or Sydney and there is the opportunity for capital appreciation. The big developers are reinforcing this by building properties with longevity in mind to protect a buyer’s asset.
8. Freehold properties
Thailand allows foreigners to own freehold properties. This is mostly within a condominium setting, but it does give foreigners a choice when looking for an investment. Plus, there is the security of knowing you own the property without having to worry about lease agreements.
9. Visa opportunities
Thailand has attractive and straightforward visa packages available for those wanting to call the Kingdom their home. The attractive lifestyle and low age for a retirement visa are another reason Thailand tops the chart as a good place to retire. Likewise, the Elite Visa Program gives those wanting to invest in the country special privileges alongside a five-year visa.
10. Available finance
Some banks are open to lending to foreigners. This enables purchasers with more flexibility to get the property they want provided that they meet the criteria set out by the bank.