Top reasons to buy properties in Thailand 2022
While Thailand is one of the top tourist destinations worldwide, it boasts an excellent property market! Well, there are plenty of compelling reasons to buy property in Thailand. First off, Thailand is a fantastic area to live in; the Land of Smile boasts world-class beaches, profound nature and exciting cityscapes. The best part is that you will be able to find your dream home at a reasonable price here. The Southeast Asian country also has a stable and diversified economy with many opportunities to grow in the future. On top of this, house and land prices and rents are generally rising, which gives some fascinating property investment options in the market. Read on to find out the top reasons people buy properties in Thailand!
Lower average living costs
Thailand is a top tourist destination for many reasons- pristine beaches, excellent infrastructure, world-famous cuisines, and, most importantly, affordability. Hence, your dream of living in a pool villa by the beach can be fulfilled in Thailand. Moreover, Thailand’s property prices are significantly lower than other Asian countries such as Hong Kong, Japan and Singapore. The living expenses are also relatively lower than the average living costs in other countries. So, you are definitely getting more bang for your buck!
Good investment opportunities
Did you know that Bangkok is ranked as the world’s 1st most global destination city? The country has positioned itself as one of the premier tourist destinations globally. Thailand’s ideal geographic location in the centre of Southeast Asia also promotes opportunities with surrounding nations, elevating it to become the second-largest economy in Southeast Asia.
It could be argued that this is the best time to invest in real estate because the covid-19 outbreak has prompted property owners to reduce their prices. Once the economy bounces back up, you’ll be sitting pretty with a valuable property asset that continues to appreciate in value. In terms of investment, Thailand has had the interest of both business and property investors globally.
Thailand has also made infrastructure its priority. For instance, the BTS sky train, MRT railway and other means of public transportation over the entirety of the vast metropolitan city of Bangkok. In addition, the country has the most excellent medical facilities, fast and reliable internet and facilities.
Hassle-free investment with rental management programs
Thailand is a popular choice for those looking to earn a rental income and work on their tan simultaneously. Yes, you can get the best of both worlds in Thailand.
But how does it work? If you’re looking to maximize returns and lifestyle benefits, you have two main options. Developer Rental Management Programs are a great hands-off investment, where you are allowed some personal use over the year. Or you can opt for 3rd party management, which handles the nuances of managing the property.
An ideal place to retire
Thailand has always been a favourite destination for retirees from all over the world. It offers magnificent beaches and nature’s abundant beauty and an excellent environment due to welcoming locals and convenience in location. In fact, International Living has ranked Thailand 11th in its 2022 Global Retirement Index, based on factors such as cost of living, medical expense, weather etc.
There is a popular type of visa for retirees known as the retirement visa (Immigrant or Non-Immigrant A Visa) for people over 50, with some requirements and conditions. One of the requirements is to show proof of a bank deposit of THB800,000 that has been in the account for at least two months in the form of a letter.
Are you looking to buy property in Thailand for these reasons? Make a well-informed decision and seek professional advice from Thaiger Property.
Click HERE to read about whether or not you need a bank account to buy property in Thailand.
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