Property for Sale in Thailand

Location, climate, and economy

Thailand (officially the Kingdom of Thailand) is a country located in Southeast Asia, occupies the southwestern part of the Indochina Peninsula and the northern part of the Malay Peninsula, bordered by the Andaman Sea from the west, and the South China Sea from the east.

The climate varies by territorial zones: in the north it is tropical humid, in the central and southern parts - subequatorial, equatorial - in Malacca.

The following sectors of the economy are developed: the production of cars (Japanese and Korean companies), equipment and electronics, rubber and plastic products, folk art crafts, the chemical industry, agriculture, as well as tourism and services.

Real estate market in Thailand

It is profitable for foreign investors to invest in real estate in Thailand for the following reasons:

•  sufficiently developed economy, stable currency,
•  relatively low cost of investment and accommodation compared to other countries attractive for tourists,
•  favorable business conditions,
•  the ability to work remotely,
•  warm climate,
•  low interest rates on mortgages (5%) and the establishment by the Central Bank of Thailand for lending to foreigners, easy requirements for mortgage borrowers,
•  developer discounts,
•  low purchase tax (1-2%),
•  no annual tax on property ownership,
•  opportunity to earn passive income.

Foreign investors from China and Hong Kong are interested in Thai real estate. Citizens of the USA, Singapore and Great Britain are active, citizens of Russia and Belarus have recently been striving to purchase inexpensive objects.

The most active sale of real estate in Thailand is in Phuket (the most popular and developed resort in the country), which can bring the owner an income of 7-12% (as a rule it is 5% in Europe). A large number of facilities are under construction, new residential complexes are being built using modern technologies in attractive coastal areas, and they are being completed on time.

The opening of new skytrain lines in the capital Bangkok (Khe Rai-Minburi, Ladpharo-Samrong) in 2022 will shift the focus of developers on the construction of new condominium complexes to suburban areas. Accordingly, prices are expected to increase in these areas.

Customer feedback confirms that primary residential property in Thailand (with full finishes and plumbing, sometimes with a set of kitchen furniture) meets building standards.

The choice of real estate in the secondary fund is quite diverse. Investments in commercial facilities located in tourist areas are a profitable investment.

Property prices in Thailand

The cost of real estate in Thailand, according to the Central Bank, is growing annually by 4-5% (the trend has been observed over the past ten years).

Resort real estate is the most interesting direction for investment. These are the most budget options in Phuket in 2022:

• condominium — from 110,000 USD (a studio up to 35 sq. m, fully furnished according to hotel standards, located in a top tourist location and in a quality complex),
• villa — from 265,000 USD.

Experts believe that prices for apartments and houses in Thailand have a steady upward trend, which will allow the investor to earn on the subsequent resale of the object.

Property types for sale

 1.Residential properties:

•  apartments in a condominium (high-rise building with joint tenure of common areas)
•  townhouses,
•  detached houses,
•  villas.

 2.Commercial properties:

• industrial and commercial premises,
• warehouses,
• restaurants,
• offices.

Real estate website in Thailand

It is safer to use the information of experts and follow their recommendations. GEOLN.COM real estate website (with a convenient search interface) contains a full catalog of real estate in Thailand.

Buying property in Thailand by foreigners (nuances)

A foreign investor can purchase real estate subject to restrictions on registration of ownership:

• the land plot is issued only to a legal entity - a company in which 51% belongs to a citizen of Thailand,
• a house or a villa is registered in the property, the land plot is given in a long-term lease (initially for 30 years, with the possibility of a twofold extension),
• housing in a residential complex (common areas are registered as a joint shared property of apartment owners).

The funds intended for the purchase must be sent to a bank account in Thailand by transfer from abroad.

Buying property in Thailand, one of the most visited countries with excellent natural conditions, is beneficial in order to obtain a guaranteed income from renting your property out, to move to a permanent place of residence.