Why investing in Thailand property is a great idea
Besides being a tropical paradise, there are many other reasons to invest in Thailand property. As the country has shown strong and consistent growth in recent years, housing and land prices continue to rise. And, as many expats continue to choose Thailand, finding a dream home here at a fraction of the price is often very possible. Additionally, average property prices in Thailand are considerably lower than those in the countries of potential investors.
GDP and trade
In 2019, Thailand was ranked 2nd in ASEAN for GDP. The reasoning is due to the country being capable of doing sufficient trade in the region, along with having modern infrastructures. Factories, warehouses, and the accompanying affordable labour all help make doing business in Thailand easier. Moreover, Thailand is an inexpensive country to live in, if you are happy to adopt some of the local culture and living. eg. Don’t eat in foreign-food restaurants all the time and live in touristy areas.
For foreigners, investing in property will often get you more bang for your buck compared to their home countries. However, there are still areas that are quite pricey, with central Bangkok being one of them. Rental properties in Bangkok are also high in demand from long-term residents and tourists. And, the south of Thailand also yields some great opportunities for rental income as many travellers want to stay in more luxurious coastal residences.
Koh Samui is a popular location to invest as the current height restrictions, along with a suspension on new condo licenses, make competition quite fierce. As the best properties on Koh Samui continue to be the beach and sea views locations, prices will surely increase as more land is developed.
Meanwhile, on the Andaman Sea, popular Phuket has a wide variety of newer and legacy properties pool villas and condos, at every price level.
Future investment
Purchasing Thailand property as an investment is also a good choice because the country has seen a steady increase in property prices as demand continues to stay strong. The country remains consistent in its development, with modern road networks and connections to main industrial and commercial centres. Amenities also rival that of many expats’ home countries. With modern medical facilities, accommodations, business facilities, and fast internet connections, living in Thailand certainly doesn’t disappoint. Exclusive locations also drive up property prices, making many places a mecca for investors.
Other ways to see a return on your investment, include buying a property and leasing it. This is a faster way to earn a profit off your investment. Many investors choose this route as possible rental yields over 5% make Thailand a great investment opportunity. As this is only an average figure, rental yields can be higher in more exclusive locations.
Investors in Thailand property will surely find a route in which to see a great return on their money. From buying a luxurious condo in the heart of Bangkok, to renting out your property in the South, Thailand’s property market is definitely hot. Even with Covid-19 wrecking parts of the economy, the market is expected to make a comeback as early as next year. And, with the current pandemic making it a great time to buy up properties along the coasts, the future will surely yield some great income for those who make the decision to invest now.
The Thaiger always recommends doing your homework before buying or renting a property in Thailand. You can always seek qualified and professional advice from Thaiger Property.
