Some of the tourists, after exploring Thailand, are considering having their own property here. Unfortunately, as a foreigner it is complicated to buy your own land in this country, except through having a Thai partner or a Thai company, by rental or possessing an ownership. However, according to the Thai policy, only condominium units can be bought by a foreigner for full ownership.
Here are 10 reasons why condominiums are the best for foreign Thailand Real Estate.
1. The privilege of freehold
As mentioned, condominiums are the only land properties that can be fully owned by a foreigner wanting to live in Thailand. This is supported by the 1979 Thailand Condominium Act.
2. Easy to market
Just as how it is easy to buy, it can also be easy to sell whether to a Thai local or to a foreigner.
3. Funds can be sent home to your country
The earnings from selling your condominium can be sent back to your home without any hassle.
4. Growth of the Thai Market
Its accessibility to the foreigners made Thai condominiums one of the preferred investment vehicle of various countries especially in the Asian continent. This expands its market, affecting the price growth especially in some of the Thai tourist destinations like the Phuket.
5. Potential return of investment
Condominium developers usually offer 5-8% guaranteed return of rental for the first 3 years of staying, which makes the rental market booming in the country.
6. Investing a land property can bring further problems
Some of these problems are:
- The Thai government investigates some of the companies that are used as nominees to own a land.
- Despite of the 30+30+30-year lease agreement, there is no law that supports this agreement. Plus, in reality, it is still only for a 30-year lease.
7. Potential security
Most of the modernized condominiums in Thailand are equipped with the best of secured amenities like having a key card access, security staff and cameras almost all throughout the buildings.
8. The best of furniture
Thai condominiums are now with complete set of furniture always available for its potential buyers.
9. Fully equipped with the best facilities
Most of the Thai condominiums are very convenient especially in meeting the basic needs and wants of its potential buyers such as various shops, libraries, swimming pools, jacuzzis, spas and gyms as well. Buyers do not have to worry about searching for those amenities because they are always just a short distance away from their condominium residence.
10. Perfect for any type of vacation or holiday
Aside from the expected return of investment and the best of facilities offered, purchasing condominiums in Thailand can be the best investment decision you can ever have. With the right and the best marketing strategy and rental program, you can surely give the best satisfaction to your renters whether if they spend their vacation in the country or celebrating the most important holidays and occasions of their lives, may it be alone or with their families and friends.