Southeast Asia is one of the hottest real estate markets in the world. Countries such as Thailand and Vietnam feature growing economies, and foreign investors have realised the potential for profits. Thailand is widely regarded as one of the top tourist destinations in the world, and a considerable portion of the country’s economy is derived from its tourism industry, which is why there are heavy investments being undertaken in this sector. However, over the past few years, Thailand has seen a steady increase in the number of foreign real estate investors.
A bunch of new property projects have been launched around the country. A number of new projects have been started in heavily populated cities such as Bangkok, though many others are located in developing areas like Chiang Mai, Hat Yai and Khon Kaen. If you have a considerable amount of money saved in the bank, why not put it to work? You can purchase a condo or a piece of land in Thailand, and once the value inevitably increases, you can sell it off for a tidy profit!
Most people who invest in real estate already know that the foreign real estate market is a completely different beast altogether. When investing money in your local markets, you don’t need to be overly concerned with foreign politics and instability abroad. It’s easy to see whether the value of a given property will rise or fall once you consider the scale of the project and the esteem of the surrounding area. However, when investing money in a foreign land, you need to be aware of the political situation within the country and various other factors, such as international laws, which company is spearheading development on the project, their financial standing, etc.
Working with a Local Real Estate Agent
The best thing that you can do to keep your money safe in a foreign market is to work with a local real estate agency in Thailand. Companies such as Sense Property have built a solid reputation in the industry and can help you find different properties in the country at very affordable prices. A local agent will be able to get you the best deals in the city. Even if you don’t want to sell the property later on, you can instead call your agent to put the property up for rent. There was a significant hike in rental prices during the past couple of years in Thailand, which makes it an excellent avenue for generating some passive income.
Why Invest in Thailand?
Thailand has the 19th largest economy in the world and when compared with Asian standards, inflation has largely been kept under wraps. Another excellent reason to invest in Thailand is because the country has shown remarkable resilience in terms of natural disaster recoveries and handling political turbulence. Thailand is also one of the integral members of the Asian Economic Community, and is widely regarded as the third most promising market in emerging countries. There are currently millions of foreigners living and working in Thailand. Buying property in this beautiful South Asian country can help you grow your portfolio and double your profits within a few years!