Real Estate Business Thailand How to Kickstart

Bangkok is the capital of Thailand. It is a very large city, which contains about six million people. The exotic culture in this place has a good range of jobs to offer, which makes it a top pick if you’re looking for a place to live and work in the country. On the other hand, for those who choose not to live in a city, Thailand offers smaller cities like Nonthaburi or Chiang Mai. Despite its smaller form, it still gets to offer amenities for tourists. For a fact, Chiang Mai is a hit with tourists. They can visit or live in the city if they wanted to. Be sure to check Thailand flat before venturing into new businesses or looking for a place to live in.

Land ownership in Thailand is pretty high with a percentage of 80%. Compared to the United Kingdom (63.5%) and America (64.5%,) buying a property in Thailand promises more great opportunities. Although, the rate for buying a property has slowed in the previous years, which lead the government and house builders to venture into promotions to kick start the industry and attract more buyers. In this lieu, even if this is the case, growth in some categories is still solid. For example, the condo market showed a leap of 4.7% during the year to Q1 2016, which is at down on the previous year, but not to be ignored.

What’s the whereabouts of the property market in Thailand?

Due to economic downwards and a changing political landscape, more of the investors are having doubts on investing at Thailand. Even if the condo market shows a growth of 9.39% in 2013, the growth in prices has slowed down. Moreover, there was an 8.9% growth in the year 2015, but also slowed down to 4.7% in 2016. This phenomenon greatly influences the housing types, with townhouses also garnering a lower growth rate of 3.1%. Also, in addition to this, the single family homes have also recorded a lower value during the year 2016.

When the prices of homes start to lower down, the rental yields in particular categories boost up. For a fact, the rents in condominiums was posted with a double digit growth even after the buying price index showed a slowdown in percentage. Also, due to the growth in household debt, banks are getting stricter in mortgage lending, which shows a demand for rental properties that will be more expensive in the future. Compared to other countries, Thailand shows also a booming industry on real estate. Read here for Canada’s real estate venture.

How can tourists purchase a property in Thailand?

Foreigners are expected to face some restrictions when the talk is purchasing a property in Thailand. For a fact, it is vital to buy a condo or flat, but buying land on the other hand poses restrictions. This means that tourists can own a building though won’t own the land where the building stands.

What tourists can do is to partner with a local in starting a company, whom can buy the land. In this lieu, when doing this, you have to get local legal advice.

In the international scene, this would be easy since buying a property is hassle free. Read more on real estate at this link.