Depending on what you wish to do you can either buy a condo to live in while you work in Bangkok. Others come on holiday each year to use it. You could also buy the condo as an investment. Property values on property in Thailand have always been very good.
You must remember that when you sell the condo within a 5-year period there will be additional taxes on the sale. This is in order to avoid property flipping which caused property inflation and you can see this under property transfer cost. Consider all of these when you wish to buy property in Thailand and your property investment in Thailand.
Currently, in Thailand, they are developing more mixed residential units as the market for a condo only buildings have been starting to wane over the past few years. Retail segments with the condo units will more likely than not be the norm over the next few years. Popular locations in Bangkok such as property developments in Sukhumvit Road, the Rama IX area, and Ratchadaphisek Road are always good investment locations.
Many foreigners buy property in Thailand as an investment vehicle and it has proven to be profitable in the long run. Most investment purchases have been on new projects usually by large property developers such as Raimon Land. Consider this when you buy property in Thailand. These buyers tend to look for the following – location, developer reputation, and quality of the build, and also the amenities such as a gym and onsite parking.
On average most down payments have been in the 15%-30% range and very few buyers have over the years changed their minds and being mainly property speculators. This is important when you buy property in Thailand. This is the reason why many developers tend to look for a large deposit. * Like other investment destinations in Thailand the location of the property is of prime concern followed by the quality of the build.
See the locations which are attractive to foreigners such as property in Phuket, Bangkok as well as those located in Pattaya. Each destination has its advantages as well as its disadvantages. You can also search this website for more detailed explanations of the property market as well as property law in Thailand.
If you are considering buying a condo in Phuket, then consider the rules for property development as you don’t want to buy a condo and have legal problems later.
Thailand has its own property measurements and you should be aware of this. You would normally have to have a due diligence study done.
Some people prefer to buy used units over the brand new units available on the market. There may be issues when you buy property in Thailand. There are a number of reasons for this when buying a condo in Thailand. See select investment property in Bangkok listed below.
– There is no risk of developer delays or failures;
– You can occupy the unit now;
– You can inspect the fittings and unit immediately;
– Buyers tend to look for bargains.
Many buyers like to buy the unit and rent out the unit until such time that they are ready to settle down in Thailand. These people tend to use the rentals as part of their savings in Thailand when they retire. There is also the option of leasehold in Thailand outside of buying the unit. Speak to a property lawyer in Thailand today for more information and guidance with regards to buying a condo in Bangkok.* The following would be the most common reason for this decision:
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