Thailand is perhaps the only nation of Asia which is witnessing a two-way foreign currency inflow. One, from the increasing numbers of foreign tourists every year and the other from the increasing numbers of foreigners investing in Thai Properties. In fact, the experts are trying to draw a connection between these two perspectives and they are predicting that an augmented foreign tourist figure is a sign that in the coming years Thailand will witness a rise in the numbers of foreign property investors.
The Overall Picture
The foreign property investors consider the major cities of Thailand like Phuket, Koh Samui and Chang Mai as the most ideal locations of investment. The striking part is that these locations are popular among the foreign tourists and the price of a property is comparatively higher. The reports say that, in the year 2012, a record number of 9.5 billion tourists visited Phuket and the numbers are increasing by 13% every year. Consequently, the numbers of foreigners investing in properties of this region has also increased consistently. Property market experts believe that most of these property investments are made with a purpose of getting high returns. Most of these properties are leased out to the tourists visiting the region. Therefore, it will not be unfair if properties purchased in these exotic locations are compared with a golden goose.
The Possible Reasons of the Rising Demand for Properties in Thailand
Numerous possibilities come into play while determining the exact reasons of the rising demand for properties in Thailand. The majority of the locals residing near the popular tourist locations claim that, numerous foreign tourists often ask for the property prices in that specific region. In fact, there are various foreign tourists who turn into property investors after they are charmed by the captivating landscapes and serene beaches of Thailand.
Getting a return from the property investment is perhaps the most appropriate reason behind the increasing demand. Most of the foreign property investors often opt for condominiums, because they have a high demand among the visiting tourists. The reports of the Bank of Thailand provide some air to this statement. The reports state that, the economic value of condos in the tourist destinations of Thailand is increasing by 10% every year. Much of this value has increased due to the growing demand of this particular property among the foreign investors.
It is seen that, the majority of the foreigners investing in Thai properties are on the verge of retirement. Thailand is an economically stable country and this is the prime reason for which most of the foreign investors prefer to spend their post-retirement life in this country.
All though the conditions of buying properties are favorable in this country, the foreign investors should be careful about the stringent property laws. The property laws are complex and one might face difficulties understanding it. There are various property lawyers Phuket, who provide necessary legal guidance to the foreigners looking to purchase properties in this part of the globe.
Summary- Thailand has turned out to be a preferable nation of property investment for most of the foreign investors. The foreigners can expect a good return if they make property investments in the popular tourist destinations of Thailand.