There are many reasons why investing in a property in Thailand is a great idea besides it being a spectacular tropical destination. Land and housing prices have been rising steadily as the country has displayed consistently solid growth in the past few years. The idea of acquiring a dream home in Thailand at almost a fraction of the price has had many expats continuously choosing Thailand for property investment. Property rates in Thailand are substantially lower compared to those in the countries the potential investors come from.
Trading Trends and GDP Ranking
Thailand ranked 2nd in ASEAN for GDP in the year 2019. This was largely attributed to the thriving trade with advanced infrastructure in the country. It was easier to conduct business with the availability of affordable labor, and properties for factories and warehouses. Besides, living in Thailand is not expensive if you blend in with the local way of life and culture. For instance, eat at local restaurants more often instead of those serving foreign food and avoid living in areas that are tourist-dominated.
For international buyers, property investment in Thailand is often more lucrative compared to their home countries. Although some areas such as central Bangkok are quite expensive. Due to the presence of residents and tourists who spend a long time in the country rental properties in Bangkok are also high in demand. The south of Thailand offers fantastic opportunities for rental income because many visitors prefer luxurious seaside residences to stay in.
Property investment in Koh Samui is quite popular due to the current restrictions in height and new condo licenses getting suspended leading to strong competition. The best properties in Samui are majorly beach and sea view locations and therefore the prices are bound to shoot up as more land continues to be developed.
On the other hand, the sensational and popular Phuket island on the Andaman Sea offers a vast variety of newer and upmarket properties such as seaside private pool villas and condos in a range of price levels.
Future of Thailand Property Investment
PBuying Property in Thailand is a great decision as the country continues to see a consistent rise in property rates as the demand remains as strong as ever. Modern developments of road networks and connectivity to major commercial and industrial hubs continue to grow at a steady rate. The infrastructure and amenities available are at par or better than many home countries of expats. Thailand offers an enhanced living experience with its advanced medical and business facilities, modern accommodations, and super-fast internet connectivity. Some exclusive locations also tend to escalate property prices, making several places potentially promising for investors.
You could alternatively seek a return on your investment by buying a property and renting it out. This is a faster method to maximize the profits from your investment. Plenty of investors prefer this option as potential rental income is expected to be over 5% in Thailand and more in some of the exclusive locations, making property investment in Thailand truly profitable.
There are many ways that an investor can receive a great return buying property in Thailand. Be it renting out a property in the South or buying a premium condo in central Bangkok, the property market in Thailand is surely booming. Despite the Covid-19 pandemic’s adverse effects on the economy property market in the country is expected to bounce back earliest by next year. Moreover, with the current pandemic situation, it is a great time to buy properties at attractive sea or valley view locations that are sure to generate some attractive income in the future for those who decide to invest right now.
If you are interested in an investment property in Phuket or Koh Samui connect with our team at SKHAI to avail of superb discounts and the best deals on some of the most spectacular properties in Thailand.