Thailand has gone from the domain of laid-back backpackers to a tropical paradise with luxury resorts attracting rich holidaymakers and honeymooners.
Few who set foot on its warm sandy beaches fail to fall in love with the stunning scenery, beautiful weather, amazing food and low cost of living.
Although it is not the most accessible of holiday home destinations - flight time from the UK is around 12 hours - it attracts buyers from Europe and the US.
They are tempted by the new developments and amazing value for money. On the island of Phuket, property prices have doubled in the past five years. While there are million-pound villas for the seriously well-heeled, there are two-bed properties for less than £100,000.
Carlo Walther, head of business development for RightmoveOverseas, said: "Foreigners looking to get a foot on the Thai property ladder tend to look in the bustling city of Bangkok or the southern beach resorts.
"But Chiang Mai - the gateway to China - is tipped to become a good investment choice thanks to the new highway that will connect it to Kunming, the capital of southwest China's Yunnan Province.
Foreigners cannot own land in Thailand so property is sold leasehold or through partnership with Thai nationals.
Leases last for 30 years with the automatic right to two extensions, giving buyers a 90-year lease.
Walther added: "Foreigners can own buildings in Thailand but not land and so, as a result, apartments are the more common choice.
"If you have your heart set on a villa, there are ways to gain the freehold of the land. The most popular is to set up a Thai limited company but you are still only able to hold 39 per cent of the shares - the rest must be owned by Thai nationals who sign over all of their rights in the company to you."
Extract from the Sunday Mail
1 comment:
I agree, Thailand became real property hotspot. Purchasing a Thailand property is one of the smartest investments you can make. Property prices are competitive and we can offer you an excellent choice of quality developments. These Thailand properties offer buyers much return potential especially because Thailand is considered by many as the number one tourist destination in Asia.
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