Thailand is a country in Southeast Asia, has beautiful beaches, great nightlife and with that a well-developed tourism. We sure have seen videos or read articles on the internet about the luxurious villas that people rent for a very affordable price. If you think to move there just after you retire, you might want to buy your property now since the prices are lower because of the pandemic. While Thailand has been one of the destinations everyone anticipates visiting, it is also a good place to invest and find ways for earning money. In this article we will show you why buying property in Thailand is a good investment.
Thailand’s economic situation
In the past years, Thailand’s economy has been stable and going up until the pandemic came but the pandemic made problems in the whole world not just there. Since their economy is based mostly on tourism and it was forbidden to travel during these times their financial resources are lower. Before the pandemic they had the proportional rise of the real estate market and investment there was a great idea, especially if you plan on buying property, renting it, and selling it after some time.
However, when the restrictions are reduced, and people can travel again, they will be back on track and they will have an increase of their financials so investing in property there might also be a good idea since people will travel more and since they have been locked at home, surely, they will spend more in order to compensate for the previous year and a half.
Buying property as a non-resident
This might be a little tricky because there are laws in Thailand that are forbidding people that are not from there to own land. Because of that, you can’t buy a house and you can only buy apartments. There are a few ways that you can escape this. The first one is a little bizarre and that is to marry someone that lives there. The second one is to open up a business there and buy it as a business property. If you don’t want to do this, but you want to buy a house there. You can only rent it for a prolonged time of thirty years but it will never be truly yours.
Price of the property
Prices of the property can vary, from cheap to expensive but you can definitely find a good property that you can invest in. You will understand that once you check out the offer, especially after checking out the Villas for Sale in Koh Samui. You can buy apartments in Bangkok or you can buy a property on the islands if you are lucky enough to find a great deal. Anyways, the prices for an apartment in Thailand are way more affordable than the prices around the world.
For an apartment in the major US cities, you will pay 5 times more than a same-sized apartment in Thailand. That is why property in Thailand is a great investment, you buy a property for a lower price, you can rent it to travelers the whole time if you are not staying there and in the end, you can sell it for a much bigger price since the market is predicted to rise.