Top Real Estate Investment in Thailand Destinations with Great Capital Appreciations
Real Estate Investment in Thailand
If you’re looking for an exciting adventure on visiting rich wildlife national parks, getting sun-kissed on beaches, then you need to come to Asia. Observe ornate temples, explore ancient ruins, and book a ticket for Thailand! There’s always a great adventure waiting for those who want to make a real estate investment in Thailand.
Pattaya is 147km southeast to the country’s capital, Bangkok. Located in Thailand’s Eastern Gulf coast, Pattaya transformed from a quiet village back in the ’60s into a sought-after destination. The resorts and high-rise condos, shopping malls, and clubs paved the way for tourists to take an interest in investing in the area. Many have witnessed the shift in the groups buying a property with Chinese investors dominating the market. Investors always enjoy low prices for second-hand properties.
The Thai parliament approved a law for investment and trade in the EEC or Eastern Economic Corridor. The government hopes to develop EEC by 2021 turning Thailand provinces into a technological manufacturing hub. That said, the Thai government is expecting a US$43 billion EEC realization.
The government expects U-Tapao to bring more tourists to Pattaya. Developing the airport will also reach the aviation sector further by constructing a second runway and passenger terminal. Their aim is also to connect the airport with high-speed railway and develop commercial areas. They’re also setting their efforts for improving maintenance and overhaul and a Free Trade Zone.
It is known to be Thailand’s capital but is undeniably a must-see destination for tourists. Numerous expats have decided to settle down in the said city due to its cultural and historic sights. The city offers endless places to visit like museums and fabulous art galleries. There are many reasons why Bangkok is the most visited city in the world!
Second hand vs Off Plan
There are quite a few term differences in a country like Thailand and western countries. Thailand’s Resale Market has an equivalent term of pre-owned in the U.S. the latter typically unattractive when purchasing a dream home. And while Thailand considers properties of 5-10 years as old, it’d be considered new in Europe.
Second-hand real estate market in Thailand interest buyers due to their simple procedure of transferring ownership compared to western countries. Though the word "simple" doesn’t necessarily mean stress-free, it’s far less complicated real estate investment in Thailand. What’s interesting is that you’ll find old properties in prime locations with competitive prices. On top of that, you can expect these properties to be 30-40% less than that of other off-plan projects from other countries!
Condos and Building Renovations
There’s an issue about condos that lack bedrooms but Bangkok makes up for affordability as an edge in renovating older buildings. They’re now launching standard 1 bedrooms with 30-35 square meters and 2 bedrooms with 50-75 square meters. Older condo projects often have larger floor space over 100 square meters.
If you’re into beaches, Phuket should be included in your bucket list. The fine white sands, palm trees, glittering ocean, and festive towns will keep your mood positively elevated! And it’s not the only reason they gain traction from investors in real estate.
Tramway and Airport
According to the Mass Rapid Transit Authority or MRTA, we can expect a 2020 bidding for constructing a 35-billion baht tram system in Phuket. Pakapong Sirikantarama, MRTA governor, mentioned about the pending revised design of the light rail to be considered by the board of MRTA. It’s a 41.7 km tram line from Phuket Int’l Airport to the intersection in Chalong. This includes tunnels and elevated sections and tunnels, avoiding adverse traffic.
Proximity, Amenities, and Real Estate
Its proximity to Singapore and Malaysia also adds potential that both locals and tourists you can enjoy. You’ll find a bunch of great schools in the area, department stores, and world-class hospitals.
The island development means good traffic for business investments, leading foreign investors in search of affordable real estate properties. There’s also a high percentage of freehold condominiums purchased by foreigners.
The place was a fishing community in the past, a great way to soak up the local culture. People are sure to enjoy the beachy village pubs and restaurants where everyone can enjoy the sunset. Tourists can have the solemnity of Buddha temple and still have fun in cabarets shows. The place is packed with pristine beaches, it’d be hard to resist not securing a home here.
The villas are comparatively affordable compared to other coveted Thai attractions. People are enticed with high-end tourism with a sunny backdrop to complete the Asian getaway feel. These real estate investments have a high yield potential as the demand for tourism. There’s also an increased number of retirees opting to settle down in Koh Samui.
There are so many reasons to stay and live in the Land of Smiles. Maybe spend the rest of your life after retirement. Learn more about the best real estate investment in Thailand!