Choosing property in Thailand is not easy because of the Thai rules for foreigners to buy property. Once the right investment is done it would be profitable for the rest of your life.
In recent years, the Thai real estate market has attracted investors from all over the globe. A major reason for this is the constant rise in the Thai Property market that has enabled the investors to reap huge profits. Year by year there has been a constant rise in the volume of investments that are made by the foreigners.
However, just like investing in any other country, there are certain factors that you need to consider before buying your own property in Thailand.
Main Objective of the Investment
This is one of the foremost factors that you need to consider before you start looking for a property in Thailand. There are broadly two main goals for buying a property. One is that the person is going to settle down over there and other is for investment purposes. Once you have made up your mind on this front, you will be able to focus your search in the right direction. Some of the locations in Thailand have a good rental value while others are best suited for long term investment purposes.
Thai Rules Are Quite Stringent For Foreigners
As a foreigner, you cannot buy your own land in Thailand. However, there are a few ways in which you can have a possession over the Thai Property. If you are a part of a Thai company in which majority of the stake holders are Thai you are eligible for buying your own land. Another way is to get 30 year lease agreement of the property. One popular investment option for most of the foreigners is to invest in condominiums in the high rise buildings. There is only one condition that is associated with this type of investment. Out of all the investors, 51% of the units are reserved for the Thai nationals.
Financial Opportunities of the investment
One of the prime goals of any person investing in Thailand is to churn out the maximum profits out of the investment. It is always recommended to invest in areas with advanced infrastructures. The possibility of the growth of these areas will be definitely higher from the properties in other locations.
Keep a Watch Over the Foreign Exchange Rates
This is one aspect that most of the investor neglect while buying a property in Thailand. The constant change in the value of the foreign exchange in which the property will be bought might be thorny for you. The value of the property might escalate in the local market but due to the fall in the foreign currency in which the property is bought, you will incur a loss.
Take Care of the Social & Economic Aspects
Just buying a property is not the only expense you will bear. Different areas in Thailand have different cost of living which makes it even more important to analyze the finances well before investing. There are various social aspects like health care and transportation services that will be a major factor for the expenses that will be incurred by an individual.
Conclusion
All the factors that are showcased in this article will assist you in choosing the right property in Thailand. Once the right investment has been made from your end, you will able to reap profits from it for the rest of your life.
