A lot of foreigners are investing in property in Thailand, especially with the government approving seven measures to help stimulate the real estate industry in the country. And when it comes to options, there are a lot of great properties in the market today—apartments, villas and houses—you name it, and they surely have it.
But before you get all giddy about investing in your first property in the country, here are some things that you should know first:
Understand the laws around property investment in Thailand first.
Investing in real estate in Thailand is a lot different than in other countries. So even if this isn’t your first time investing, it’s very important to understand the laws here first. For instance, you need to know that you can’t own a piece of land as a foreigner in Thailand. But you can own a condominium unit or apartment here. It’s also ideal to talk with a local lawyer who will help you with the process of finding, buying and registering your property to make sure that everything follows proper rules.
Work with a reputable real estate agency.
Again, you won’t have any shortage of options when it comes to properties in Thailand. But the abundance of options can also become overwhelming, and you need professionals to narrow down these options to fit your exact needs. Thankfully, Zest Real Estate is the right partner for property investments in Thailand. The company doesn’t only have an extensive portfolio of properties to make sure that you have the options that you need, but it can also help you manage that property, especially if you’ll only be using it as a holiday home.
Know your financing options.
You’d be glad to know that paying in cash isn’t your only option for financing if you’re investing a property in Thailand. You can also take out a loan or purchase under a Thai-owned company. Knowing your financing options will not only help you decide on what’s right for you, but it will also help you avoid possible financial pitfalls later on.
Finally, it’s very important to do your due diligence. Thailand is such a huge country with several locations that offer different types of lifestyles. For instance, Bangkok is the capital of the country where you expect all the main business establishments to be. So if you want the city life, of course, you have to invest in property in Bangkok where the hustle and bustle is.
But if you want to enjoy the more laid-back island life in Thailand, you should go for Phuket, where the best beaches are. Doing your due diligence doesn’t only give you a good understanding of the different locations where you can buy property, but it also allows you to understand local culture and practices.
Did these ideas get you excited to own a property in Thailand? Start by getting in touch with our Phuket property agent so we can help you with your property investment journey.
