Speaking of attractive real estate market for foreign investors, Thailand would certainly be one. Due to the tendency of increasing in public utility such as skytrain and also condominium, which offers at a more affordable price than other countries, hence, it comes as no surprise that Thailand could be a main interesting choice for many investors. However, when it comes to real estate trading in Thailand, it could still be an unfamiliar case for the foreign investors. Therefore, it would make your investment so much easier, if you know these 3 things about Thailand as follows.
1. Law – Studying law of Thailand is inevitably the first thing to do before making any decision of investment. In particular, Thai real estate law has much detail where you have to follow its procedure in order to be able to keep up with a business game of this industry. Fortunately, Thai law favors and encourages foreigners to invest in the country easily. Due to the Thai law perfectly states that the foreigners are allowed to have ownership over each apartment not more than 49% of the total area. They do not have to pay for property tax in Thailand either. In addition, an owner of condominium project even provides a consultant service for the foreigners, which can ease the trading property to be much easier and smoother.
2. Connection – Real estate in condominium is quite a more competitive business than other types of property businesses. Due to its overall market requires knowledge in all fields such as law, marketing and finance, hence, it would be an advantage for making a decision in investing in a property, if you know the right person in the industry. It is neccessary for the investors to have some knowledge before purchasing a condominium for renting. The knowledge in terms of information of the condominium such as structure of construction and statistics of sales of the real estate project in order to estimate the value of investment if it is worth or not. Thus, if you know more people in this profession, it would help you better when it comes to making the decision in purchasing the condominium with less mistakes to make.
3. Location – As we are perfectly aware of the main source of income in Thailand is usually clustered in tourist areas such as big cities. Due it is not only generating revenue economically from the foreginers but also they are progressive locations where offices, shopping malls and places of entertainment are all at. Hence, the number of people looking for a place to stay in these areas are increasing, especially, in the business area of Bangkok where it has the biggest proportion of generating revenue economically. However, it is not every area of Bangkok that can be profitable. The Most attractive areas for the foreign investors to make profits are usually in the neighborhood filled with business companies such as Ari, Phloen Chit, Phrom Phong and Sukhumvit. Due to these areas provide all kinds of facilities such as luxurious shopping malls in the heart of the city, hipster coffee shops and skytrain where it becomes a main transportation for people to go to work and make their life much easier.
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