Why Invest in THAILAND Properties? (Part 1)
Thailand occupies a central and important position in Southeast Asia. The centrality of its location is one of the many reasons why it has remained a renowned trade center for centuries. Apart from the important trading position which it occupies, it is visited by hundreds of millions of tourists each year which is why it ranks as the most visited city in the whole world. This has led to steady growth of real estate in Thailand as the property price index shows a continued upward surge in prices, slowed only by the globally devastating COVID-19 pandemic. Given the viable, versatile property investment opportunities which exist in Thailand, what then is the economic trend of the Thai market?
Thailand Economic Trend
As you must have already observed before thinking about investing in Thailand properties, Thailand has one of the strongest and steadily growing economies in Asia, especially in Southeast Asia. This is why it is not surprising that in 2019, Thailand was ranked second by the Association of Southeast Asian Nations in terms of the highest Gross Domestic Product. The only country that beat Thailand to the first position is Indonesia, which is understandably much larger than Thailand. The success story and steady growth of Thailand’s economy are anchored on the country’s ultra-modern infrastructure such as world-class road and rail transport systems, standard seaports, and state-of-the-art airports among others.
Despite this growing economic trend, the cost of living in Thailand is low when compared to several developed countries. In fact, in research conducted in 2018, Thailand is the 16th most expensive country in Asia to live in. Delectable street food for example costs less than $2!
Foreigners Investing In Thailand
As a Foreigner, the best place to invest your money is Bangkok – the capital city of Thailand. If you intend to invest in your very own living space, you will find luxurious yet affordable housing units. Properties and houses in Central Bangkok are generally more expensive than other locations within the city since central Bangkok is Bangkok’s busiest business district. In all, Bangkok is the perfect investment location. Please read the pros and cons of foreigners buying or owning properties in Thailand. This is because there are certain restrictions placed on foreigners. For example, a foreigner is not permitted to own land or land properties such as townhouses, single semi-detached houses, villas, etc. Also, a foreign investor is not allowed to own more than 49% of any real estate property.