There is a slew of compelling reasons to invest in Thailand real estate. In recent years, the country has had robust and consistent growth. Additionally, it appears that this trend will continue. House and land prices, as well as rents, are generally rising, which gives some fascinating property investment options in the market. Let us get some deeper insights on Property Investment in Thailand.
Thailand is a fantastic area to live in, and many individuals will be able to find their dream home there for a reasonable price.
Thai Economy Trends
Thailand’s economy has been growing steadily for several years and is now one of the region’s largest.
Indeed, in 2019, the country was the second-ranking nation in ASEAN in terms of GDP, with the much larger Indonesia occupying first place. This is partly due to Thailand’s strategic location in the area. Additionally, its contemporary infrastructure, including seaports, airports, road and rail networks conducive to business also contributes to the factor.
Thailand is a relatively inexpensive country to live in. The cost of living in Phuket is 35% cheaper than that in St. Louis, Missouri. This is the report for 2021. The actual cost, on the other hand, varies greatly from one person to the next.
For example, if you’re willing to eat the amazing street food for roughly 1.50 USD per meal, you may live quite simply. However, if you prefer Western-style cuisine, expect to pay at least five times as much.
Property Investment in Thailand for Foreigners
When it comes to business and property investments, Thailand offers a plethora of options that have piqued the curiosity of investors from around the globe.
If you want to buy a home of your own, you will be able to locate luxury properties at reasonable prices. Property prices will rise in central Bangkok and other high-demand areas, as per predictions and estimations.
Rental properties are in high demand in places like Bangkok, both from tourists and long-term inhabitants. Property on islands like Koh Samui is in high demand from locals, tourists from across the world, Thais, and ex-pats looking for a luxurious vacation from the mainland.
A wide area of extensive factories and warehouses are just outside of Bangkok. Additionally, they all are conveniently positioned near seaports, airports, and the road and rail network. The affordability of labour also contributes to the affordability of manufacturing and running businesses. There is also no shortage of office space or other facilities, which makes doing business easy.
If you’re looking to invest in real estate in Thailand, check out our guide on how to buy a property in Thailand as a foreigner.
The Property Market in Thailand
Until recently, the Thailand house price index had been steadily climbing month after month. This is due in part to the global economic recession and pricing competition among building companies. Because there are fewer international buyers, notably from China, the property market has been influenced by the reduction in tourists to the country. Prices appear to remain on the decline until 2022 when they are expected to recover.
While this may not sit well with some, it does for those looking to invest in Thailand as homes become more inexpensive and provide more attractive returns.
Regardless of current economic conditions, average property prices in Thailand are far cheaper than those in potential investor countries. The following is a quick comparison of current house prices and prices in other parts of the world (the figures mentioned are the average price for 120 square metre properties):
- Thailand: US$ 7,692
- Honk Kong: US$ 31,690
- United States: US$ 21,267
- United Kingdom: US$ 24,300
The ROI for Thai Property Investment
If you’re looking to make a financial investment in Thailand property, you’ll want to see a return on investment.
Thailand is a good option because property prices have been steadily rising in the country over the years. Both Thais and foreign investors continue to be interested in purchasing property in Thailand.
A Nation with Consistent Development
The country already has a well-developed road network with connections to the country’s major commercial and industrial hubs. The city’s transportation infrastructure is even helping to alleviate central Bangkok’s notorious traffic. This is made possible by the interconnected SkyTrain and underground networks.
Thailand will continue to be a desirable place for foreign real estate investors due to its excellent medical facilities, quick internet connections, high-quality accommodations, and sophisticated business facilities.
Furthermore, restricted property availability in places like Koh Samui will assist to drive up costs.
Earn by Putting Property on Rent in Thailand
Of course, increasing the value of your house isn’t the only method to profit from your investment. Many investors will buy to let, which means they will purchase a property with the intention of renting it out and profiting from it.
For foreigners, rental yields of a little over 5% constitute good investment options in Thailand. Given that this is the national average, you can expect higher yields in different sections of the country. Exclusive villas on islands such as Koh Samui will be included.
Therefore, property investment in Thailand can yield you a high ROI along with a trustworthy scope of development. But for this, the first thing you need is professional legal guidance to bust the prevalent deceptions in the Thai market. Mail us at [email protected] for all types of support in your venture in Thailand.
