Investing in real estate offers one of the better return on investment (ROI) than in almost any country. Everyone needs a place to live, no matter if they live in the United States, Australia or Thailand. If you are interested in making investments in real estate in Thailand, here are some tips to help you.
Consider Condominiums
There are two reasons you should consider putting your investment money into condominiums if you’re interested in residential properties in Thailand. The first reason is it is easier for foreigners to own condominiums in Thailand than other types of properties. The second reason is the high occupancy rate of condominiums, especially in cities like Bangkok.
Foreign Ownership
Unless you’re a Thai national, you will not be allowed to buy land, so you would not be able to purchase houses nor the land they sit on. There are ways to buy leases for those types of properties, but it can be confusing and it requires getting help from a Thailand resident. However, foreigners can purchase condominiums since the land is not included when they are bought.
High Occupancy Rates
Since there are many expatriates in Thailand, condominium ownership is popular and many condominiums are sold out before construction is completed. Property news in Thailand indicates condominiums are a good investment in Bangkok because you can easily let them to short-term tenants. Business travelers or people needing a place to stay during an extended holiday in Bangkok would provide a steady income.
All About Location
Bangkok is no different than any other city in any other part of world when it comes to real estate investing. The location of your property will usually help determine the rate of return on your investment. In Bangkok and other cities, you need to invest in areas with low crime rates to attract good tenants, which will keep your property occupied and well maintained.
Look for Amenities
Another way to ensure you make a good return on your investment is to choose properties near popular amenities. Properties close to shopping centers, restaurants, and supermarkets are highly valued by tenants due to their convenience. They also look for properties close to public transportation and highway networks.
Check Demand
Before putting your money into properties to let, check for the demand in the areas you’re considering. If there is very little demand for rentals, then you may have a hard time keeping tenants in your property, unless they sign a long-term lease. However, if you are in a high demand area, then you shouldn’t have any problem at all keeping your property occupied.
Hire Property Management
You will need someone local to do the day-to-day work for managing your properties. Hire a local property management company for maintenance, to find tenants and do all of the necessary bookwork. Shop around for companies you can trust, but that also have an affordable fee.
Making real estate investments around the world is a good way to build wealth or help you live the lifestyle you want now. Following these tips can help you invest in Thailand properties.
