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The Attractiveness of Thailand’s Real Estate Market
Thailand is a remarkable place where cultural heritage blends with modernity. This unique eastern corner of the world attracts millions of investors with its real estate market, offering boundless opportunities.
Tourism as a Primary Driver
Year by year, Thailand becomes increasingly popular among tourists. It’s not only a paradise for travelers but also a massive opportunity for investors. The growth of tourism directly correlates with the demand for rental housing, making real estate purchases profitable.
Benefits of Buying an Apartment in Thailand
Purchasing an apartment in Thailand is not just an opportunity to immerse oneself in an exotic culture but also presents several economic advantages. Let’s explore some of them.
Over the past decades, Thailand has proven itself as a country with a stable economy. This creates a favorable ground for real estate investments.
Quality of Life
The warm climate, quality medical services, and availability of cultural entertainments make life in Thailand truly comfortable.
Advice on Choosing an Apartment in Thailand
Before making a decision to buy, it’s crucial to consider several key factors. From choosing the right district to legal nuances, every aspect matters.
Hire a lawyer familiar with local legislation. This will protect you from potential problems during the transaction.
Diversity of Areas
From the center of Bangkok to the tranquil beaches of Phuket: Thailand offers numerous options. Decide what exactly you’re looking for in terms of residence or investment.
Thailand continues to remain one of the most attractive markets for real estate investors. A proper approach and a conscious choice can bring significant profit in the long run.
Financial Aspects of Buying an Apartment in Thailand
When deciding to purchase an apartment in Thailand, it’s important to consider various economic and financial aspects. In general, the cost of living in Thailand is relatively low, making real estate purchases attractive. However, besides the initial cost of the apartment, potential buyers should also account for other expenses, such as taxes, maintenance, and property management.
Current Trends in the Real Estate Market
Thailand’s real estate market continues to evolve, and current trends indicate a rise in the popularity of resort areas like Phuket, Pattaya, and Samui. These places attract both investors and those looking for a home for long-term residency. Considering the economic stability and increased tourist influx, investing in Thailand’s real estate may prove to be highly lucrative in the long-term perspective.
Apartments in Thailand: renting and buying
Apartments – an asset with high returns and minimal risks: no problems with registration of land, construction, communications. The cost of maintaining apartments in an apartment building in Thailand is several times lower than in detached buildings.
Apartments in Thailand bring a high income
Housing in apartment buildings in Thailand is in stable demand, after the pandemic the cost has increased by 150-200%, passive income of 8-15%. Specifics of the Thai market is the national quota; foreigners are sold 49% of the residential complex area.
Experts Turkey Property Group knows:
- How much is housing on the primary and secondary market;
- How to legally buy out the object of the Thai quota;
- how to calculate ROI.
What to pay attention to before buying or renting an apartment in Thailand
Regions of the country differ significantly in price and comfort for foreigners. Preferred for long-term accommodation and passive income Phuket, Samui, Krabi, Hua Hin, Pattaya, Ko Chang:
- Blue Flag beaches, popular resorts;
- international schools, stores, upscale medical centers;
- developed transport infrastructure;
- a high level of personal safety;
- relatively equal social environment.
Important: Many condominiums in Thailand prohibit renting accommodation by the day, such complexes are in high demand from reputable buyers and renters.
How to buy an apartment in Thailand: the main steps
Turkey Property Group team advises investors: market phases, prices, the best areas of Thailand for investment. We take into account goals and terms of investment, plans for permanent or seasonal residence, preferences of family members. We make a list of current proposals with a description: how much it costs, benefits, profitability.
After seeing the objects and making a decision, the investor will book the object with fixing the price and payment of advance payment. Reservation excludes acquisition of the property by other buyers. On the primary market in Thailand down payment is 50%, on the secondary agreed by the parties.
The contract of sale is concluded in English or Thai, both versions are legitimate. Based on the contract, the seller writes an invoice, which is paid by the buyer through a bank in the investor’s country.
Timeline for reissuance of title in Thailand:
- primary market – after the building is commissioned;
- Secondary market – one day at the Land Department.
We will help you buy an apartment in Thailand with the help of a reliable translator and lawyer. We will select a reliable management company with transparent reporting and effective tenant search strategy.
Rent an apartment in Thailand
It is important to know the status of the owner: an individual or officially registered market operator (automatically receive owners of 5 or more apartments in Thailand). A foreign tenant together with the landlord shall draw up a form T30, which confirms the legality of being in the country.
Experts of Turkey Property Group will help to find out how much it costs to maintain housing, to negotiate, to agree on the terms of the transfer of the security deposit, to check the content of the rental contract.