Thailand Real Estate
Thai developers backed a significant growth of real estate market during the last 10 years, which raised the popularity of Thailand’s real estate sector among foreign and local investors.
The Kingdom of Thailand is widely known as one of the most amazing countries in the Southeast Asia due to its abundant natural resources, including a wide variety of flora and fauna and distinct ecological zones. Thailand’s beauties and unique culture attract a constantly increasing amount of tourists every year.
The expanding inflow of tourists has resulted in a growing need of housing supply extension, which was mentioned by local developers. Thai developers backed a significant growth of real estate market during the last 10 years, which raised the popularity of Thailand’s real estate sector among foreign and local investors. Furthermore, a solid assurance in the sectors stability and progressive profitability of the market draws larger investments to a housing development sector of the country’s economy. More than 7 percent of the Thailand’s workers are employed in the building industry and the development sector receives about 15 percent of total loans.
The growing need in property leads to the changes in the local development business. Thai developers do their best to cater the tastes of foreign investors and that is why they are raising the quality of new projects significantly. All the modern facilities and various services provided in new property projects are designed to comply with the latest quality and safety demands of westerners.
The intensity of competition on the real estate market force Thai developers to keep the prices low and to promote various schemes of financing, which help to fit a wider range of budgets. Various loan and payment delay schemes, provided by developers, allow customers to allocate financial burden in a period from 1 to 5 years.
Flexibility of payment schedules, growing profitability of properties and relatively easy procedure of ownership transfer are the basis of the increasing real estate market’s attractiveness. The simple property ownership regulations along with the quality of life, the strong purchasing power and a favourable tropical climate lead foreigners to invest into Thai property.
Purchasing a property in Thailand is a good bargain it terms of price and time. An experienced real estate agency will solve most of legal issues and help with choosing the best offer according to investor’s tastes and budget.