Investment Prospects of Thailand Real Estate Part 2
It is known that a reliable partner is the key to a balance and order in any business. This question is especially relevant when we deal with purchase of a property in Thailand.
The main objective of the owner is to find a company which provides European level of services, including municipal service. It is not so difficult to find such company. The key points that are worth paying attention to – on-site office, good experience of managing a property in terms of local realities and methods of providing monthly reports to clients. Such careful approach is natural for Europeans but Thai reality differs from the Old world in this respect. This is why it becomes so important to find a company which will be a reliable partner when dealing with purchase and sale of the property.
Possible Risks
Purchase of a property under construction with the purpose of increasing margins on resale is quite a common thing nowadays. In addition to the benefits, this approach may contain a risky point, as in case of bankruptcy or delayed construction it is the buyer who gambles with his own money. The key factor in the choice of the developer should become his reputation which has been achieved during previous projects.
Another important factor is the risk of bad business practice of the developer, when the final look of the constructed property is totally different from the one presented in the project documentation and images. Quality of finishing works often also does not meet expectations of the client. Unfortunately there is such a practice in Thailand to create just a total look of the property without paying attention to details. So it is recommended to get acquainted to the Thai traditions and to make your personal rating system based on the mentality and realities of the host country, as the difference in priorities is quite evident.
A possible drop in property prices and rental costs is another traditional matter which requires special attention when investing in real estate. It happens in case of excess offer on property or a change in the political situation. In order to avoid unpleasant consequences, it is required to carry out a detailed analysis and to give preference to the more conservative and careful risk management.
Of course, you can analyze the real estate market in Phuket or another province of Thailand by yourself. But in this case you should be prepared to receive wrong information, due to the lack of experience in this field or a language barrier. Or you can employ the services of a professional company PhuketBuyHouse which is sure to save your time and efforts and will bring the desired result.
