Located in the Vientiane Capital, Xaysetha (sometimes referred to as Saysetha) is a district that is located in the AttapeuProvince in the south part of the country of Laos. The region is rich in culture and history, and it is emerging as a key destination for tourists and foreign property investors.
The region is bustling with famous and sought-after cultural attractions, including the Hua Khone waterfall, the King SaysetthaThirat temple area, the Dong Ho Shrine Forest (forest making up more than 65% of the region across the Vientiane Capital), and the Wat Sakhae or Ongsene Buddha.
The area is home to 15 different ethnic tribes, and is visited daily by domestic tourists originating from across Laos, as well as international tourists from Vietnam and Thailand. Xaysetha is an area where property investors stand to make strong and steady profits due to the rapidly developing economy and the interest in attracting foreign investment opportunities.
Buying the Right Way in Xaysetha
One of the most effective ways for an investor to enter the market in Xaysetha is to purchase a condo or apartment-style property. In fact, reputable online databases maintain huge lists of properties to buy or rent, so that you can locate a condo for sale in Xaysetha quickly and easily. You would also be wise to call around to local real estate agents and inform them of your intentions, so that they can guide you in the right direction.
It is also very important to remember that there are currently restrictions on foreign property investment in Laos. This may change as neighboring regions become more flexible in this area of law and open their borders to foreigners looking to make an investment.
As with buying any property in another country as a foreign investor, there are certain common sense things you should do in order to ensure a smooth experience. Consider the following checklist of advice.
· Check out property laws and regulations in the country thoroughly. Some countries place specific restrictions on foreign buyers, while others are more open and grant foreign investors the same rights as citizens.
· Always make sure that the property is owned by the person you are buying from.
· Get to know the local government offices or municipality that governs and handles all property deeds and titles. It’s wise to check with them on the authenticity of the property before committing your finances to it.
· If you can do so, find out about the history of the property, including previous owners and tenants.
Do Your Homework Before Investing
Before buying property anywhere, even in your own country, it’s a good idea to do all of the relevant checks before shelling out your money to invest. But these rules apply doubly so when looking at investing in foreign property, particularly if you are unfamiliar with the local market, economic conditions, laws and regulations, and culture.
Countries like Laos certainly welcome foreign investment as a way to grow their economies and propel the small business sectors, but remember to do your homework on any property before committing your time and money.