Thailand has developed a lot since the days of bamboo huts designed only for sleeping in. Now there are a myriad of property buying options available.
This page delves into 4 of types of property being bought up in Thailand; some that wouldn’t immediately spring to most foreign investor’s minds.
Condominiums
By far the most popular property purchases, for foreign investors, are condominiums.
With the relaxed ownership laws surrounding condo ownership it is far less risky to buy a condo than any other property.
A condo can be bought by a non-Thai national and therefore can be put into your own name when purchasing. This in itself gives far greater peace of mind than having to work around complicated Thai property laws.
Shop front with apartment overhead
One type of property that potential investors may not consider when thinking of buying property in Thailand would be a shop front, with apartment above.
This type of property potentially answers two needs. Firstly the apartment upstairs can be used as your home. Secondly the shop front could be used as a business to generate income.
Even if you aren’t interested in opening a business in Thailand, the shop front could be rented out and still generate a rental income.
Guesthouse
Tourism is always on the increase in Thailand. Every year more and more tourists flock to the Kingdom and they all need somewhere to stay.
Guesthouses generate, more or less, a guaranteed income. Provided they are well managed and maintained tourists will come back to stay at guesthouses, and therefore provide the owner with a steady income.
Factory
This is one property idea that most foreign investors would never think of. That said there are many that have invested in factories in Asia and found it to be an extremely profitable undertaking.
The average price of labour in Thailand is ridiculously cheap, when compared to countries in the West. This makes doing business here a very attractive option.
Many westerners have made their fortunes setting up factories which make electronics, car parts and even bricks.
This idea may be a little ambitious for most who just want a little bit more laid back lifestyle in Thailand, but it’s still always worth a thought.
Whichever way you decide to go in buying property in Thailand there are now many, many options, as well as lots of estate agents and websites, available to help you decide what is right for you.
