Thailand is an excellent holiday destination that offers you with enormous sightseeing options, exotic surroundings and luxurious places to stay. Pristine, peaceful, restive and grand, it attracts tourists in hordes every year. Thailand is a perfect blend of cosmopolitan culture with majestic locales. If you are looking for an investment in real estate you should invest in Thailand property. The topical climate, lush green flora, rare fauna, stunning scenic beauty, mouth-watering cuisine and above all extremely courteous people make Thailand a preferred destination from an investor’s point of view too.
When looking for land for sale in Thailand, you should first be clear about what type of property you are actually interested in. You may look at investing in a holiday home, villa, town home, commercial property etc depending on how you are planning to utilize the property. Thailand has lately become a hot real estate investment destination mainly because the real estate prices are still lot lower than any European or American destination. Secondly, Suvarnabhumi-Bangkok International Airport has made international air travel to Thailand more conducive than before. Thirdly, it has an impressive rental potential thanks to the huge tourist turnover every year.
For any foreigner who is looking for buying land in Thailand he may do so by either of the two options: leasehold or freehold. Foreigners are generally comfortable by investing in condominiums, i.e. out of the total condo units in any building where you are looking to invest, foreigners may own 49% and Thais own 51%. Condominiums come under the category of a freehold property and with proper assistance from a professional lawyer it is possible to own the land completely too.
While buying a condominium it is advisable to check the following as safety measures:
• Title check to ensure that you are buying legal land from a legal owner.
• Have your lawyer draw up a purchase contract.
• Negotiate the payment of the transfer fee and decide the amount that would be paid by you and the amount that would be paid by the seller at the time of sale.
For a leasehold property, a 30 year lease would be mandatory on the home you wish to lease and a renewal would be required after the aforesaid period. Alternatively, you may also hold a 30 year lease on a plot of land and construct a house on it and rent it out. In such cases the ownership of the house stays yours and the land continues to be leased. Later if you wish to sell the house you may do so too. If your buyer is a citizen of Thailand you get to sell the land along with the house. If not then the lease on the land continues and the house owner changes.
In spite of Thailand having the best of infrastructure and living amenities, the cost of living in Thailand is quite low. This is another reason that has made Thailand a hot destination for investing in land here.