Thailand is one of the most popular destinations for travelers from all over the world. It is a beautiful country with a unique culture, stunning beaches, and famous Thai cuisine. Real estate in Thailand is also very popular among foreign investors, and in recent years, the demand for it has only grown.
You will find a wide selection of real estate – apartments for expats in Thailand on the beach or luxurious villas in the mountains. In addition, property prices in Thailand are much lower than in many other countries in the region.
Thailand is also a place with a mild climate and year-round sunshine, so housing here can be a great choice for retirees and people looking to enjoy a warm climate.
However, as in any country, some features are worth considering when searching for and purchasing property in Thailand. For example, land ownership and real estate is restricted to foreigners and often requires a Thai partner or company to register the transaction.
Who buys real estate in Thailand, and for what purposes?
Who would refuse to live in a country with a wonderful climate, amazing and diverse nature, and at the same time, without interruption from civilization – with all the benefits and conveniences? In addition, housing in Thailand is an excellent investment.
Buying an apartment during the construction stage can bring significant profits; the cost of the apartment increases significantly during the development process.
The cost also increases as the infrastructure of new buildings develops.
It is worth noting that rent in Thailand can also be a source of income.
The average yield from renting out an apartment or house is 7–8% annually after deducting utility bills and paying agents. Over the past 6 years, the real estate market has shown stable growth of 5–6% per year, so not only investments in projects under construction but also investments in commissioned apartments and houses are profitable.
Legal status of foreign buyers
According to the current legislation of Thailand, any foreign citizen can be the owner of 49% of real estate in this country. A Thai citizen must own the remaining 51%.
However, there are options for registering full ownership of real estate. Thus, when purchasing a condominium (an apartment building owned by a developer or the organization that bought it; the apartments both local and foreign owners can own), a citizen of another state purchasing the housing has the right to receive full ownership of the apartment if he manages to register deal at a quota of 49%. Or you can organize the registration of part of the housing as ownership and the rest – for rent for 30 years with further extension (up to 90 years). The Phuket Land Committee carries out real estate registration operations.
The land located under the houses is also registered under long-term lease rights.
Finding and purchasing housing – on your own or through an agency?
You can organize the search and selection of options for purchasing a home via the Internet, using the specialized press, or visiting real estate exhibitions. Or you can use the services of real estate services.
By resorting to the help of experts of Thailand-Real.Estate, the buyer receives some advantages compared to searching and completing the transaction independently:
- the language barrier is avoided;
- there are no problems with the interpretation of local legislation;
- consultations and negotiations with the developer are conducted on behalf of the client;
- representing the buyer’s interests during the transaction; buyer agency services are free (the seller pays a commission).
Pattaya – main attractions
Pattaya, for many years, was the most popular resort in Thailand, and this explains a lot – no expense was spared here on infrastructure development. They built water parks and zoos and staged theatrical shows. Now the reins of leadership are being pulled over by the islands of Phuket, Samui, Krabi, but they also visit Pattaya to see:
- Big Buddha – a statue located on a hill in the center of Pattaya, height – 15 meters, there are small sculptures around, a staircase of 120 steps leads to the top;
- The Temple of Truth is a complex unique in beauty and architecture, built at the end of the last century, representing several religions, construction work has not yet been completed;
- The Wat Yang temple complex – more than 20 religious buildings, personally supervised by the royal family, there is a large park for walking nearby, you can see the footprint of Buddha;
- Nong Nooch Tropical Garden is an exotic playground with thousands of plants and intricate paths, a true decoration of the urban environment;
- Mini Siam is another park, but this one is special – on its territory there are miniatures of attractions from all over the world, including Big Ben, the Statue of Liberty, the Eiffel Tower and a hundred other objects.
The beaches of Pattaya cannot boast of ideal cleanliness and incredible beauty – a sophisticated tourist may not like it. But in general, the beach holiday here is not bad, and the sea is gentle all year round. There are a lot of exotic fruits, restaurants, cafes, and hotels.
Sights of Phuket Island
This part of Thailand is home to beautiful islands that are great for day trips and add a special charm to your vacation. A rich tourism infrastructure has also been created on the island of Phuket, connected by a dam to the country’s mainland. This island is most popular among tourists from Europe. The main attractions of these two tourist centers include the richest and unique flora and fauna. In addition, it is recommended visiting:
- Big Buddha in Phuket – a 45-meter-high monument located in the southern part of the city. Finding the attraction is not difficult, and it is visible from anywhere on the island;
- Wat Chalong Temple is a religious building that tourists love for its beauty, and the walls are decorated with frescoes, the interior is dominated by marble and gilding;
- Sarasin Bridge is a road connecting the mainland with the Phuket islands, a good observation deck with stunning views and an abundance of restaurants nearby;
- Monkey Mountain is a small area near Phuket Town, where crowds of jungle owners live, monkeys accept treats from their hands, love to steal something and tag along with tourists;
- Prom Thep Cape is a natural attraction in the southern part of the island, from where the coast of India is visible, especially beautiful here at sunset.
