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Thailand

About Thailand

Thailand is one of the most popular destinations for foreign buyers looking for a holiday home and it has a lot to offer. It has gorgeous islands, great temples and beautiful beaches as well as the welcoming Thai people, and their fantastic cuisine. The extremely low property prices in Thailand attract many foreign investors. High-demand areas for foreigners in Thailand are the beach resorts of Phuket, and Pattaya, the cities of Bangkok and Chiang Mai, and the islands, particularly Ko Samui.

About Thailand

Capital: Bangkok
Currency: Thai Baht (THB)
Language: Thai

Thailand is one of the most popular destinations for foreign buyers looking for a holiday home and it has a lot to offer. It has gorgeous islands, great temples and beautiful beaches as well as the welcoming Thai people, and their fantastic cuisine.

The average temperature is around 28-35 °C the whole year and its tropical climate has three distinct seasons: cool from November to February; hot from March to May and rainy from June to October. That is why most Europeans head there during the winter months.

Beach lovers have plenty to choose from and Phuket, one of the best known islands, has some of the best beaches, including Patong. Thailand’s Buddhist temples are another visitor attraction and there are plenty of places for water sports enthusiasts., especially for scuba divers.

Legally, foreigners are not allowed to own land in Thailand. But there are ways round this. Foreign investors have two options: either purchase a 30-year leasehold or buy the property through a limited company. Foreign buyers can purchase apartments as long as at least 51% of the building is owned by Thai citizens.

Thai economy

2017 was a good year for the Thai economy and it has grown at its fastest pace in more than four years, largely thanks to an increase in agricultural output and tourism. The property market for overseas buyers has also had an upturn and it has become more popular with Chinese and South Korean investors. New developments in Bangkok are expected to contribute to a further growth in sales, although these are mostly aimed at Asian buyers.

Thai culture

Much of Thai culture is linked to the Buddhist religion followed by 95% of the local people. The way of life in Thailand is an easy-going one and the phrase ‘Mai pen rai’, which means ‘never mind’, reflects their attitude to life’s challenges. While in Thailand you will get along better with the local people if you embrace a more laid back attitude to life.

Location and price

The extremely low property prices in Thailand attract many foreign investors and the Thai property market can boast of capital growth figures of around 10-15 % per annum. High-demand areas for foreigners in Thailand are the beach resorts Phuket and Pattaya, the city of Bangkok and Chiang Mai, the country´s second largest city. The islands are popular holiday and retirement destinations: As a result of high property demand, prices on islands such as Pataya, Phuket or Ko Samui are not cheap.

New development properties in Bangkok are priced at $150,000 for an apartment, while a townhouse in Ko Samui may go for around €80,000, Villas in the luxurious Hua Hin city resort start from just below €300,000 and in Ko Samui there are modern villas for around the same price, or even less.

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