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Revisiting the Investment Property Market in Thailand
After the bloodless political turmoil that Thailand has encountered of late and which is hopefully resolved now that a democratically elected government has been returned to power, there are those who are coming out strongly in favour of property investment in Thailand.
So, we thought we’d revisit the investment property market in Thailand for our readers because we feel the picture is far more complicated than simply a political one! After all, the entire globe is on the cusp of a financial squeeze thanks to the adverse credit situation that probably really arose because of ignorant lending behaviour among banks that should’ve known better. You know we’re right!
More Legal Obstacles to Property Investment in Thailand
So, you’ve done your due diligence, spent countless months looking at the fundamentals of investing in property in Thailand, you’re convinced you’ve found a profitable niche and you’re about to commit with a full understanding that you will have to set up a local company structure to get around the restrictive rules that prevent foreign freehold ownership of land and landed real estate…and then along come more legal obstacles to property investment in Thailand.
What is it about Thailand that is so infuriating? Could it be the fact that the nation needs foreign direct investment, it claims to want foreign direct investment, it is a country with huge real estate potential and a booming tourism market and it is also a country with a government installed after a military coup last year that seemingly hasn’t a clue when it comes to sending a clear and positive message to potential investors?
2007 Property Investment Activity in Thailand
Thailand is a favourite emerging market of ours; it has just so much potential in terms of its undeniable appeal for tourists and travellers and also it has increasing appeal as a low cost destination offering residents a high standard of living - so much so that in the near future it could well expand its fledgling appeal for international retirees.
However there’s a wealth of investment restriction in place that limits the appeal of Thailand for property investors, and in 2007 property investment activity in Thailand is likely to reflect this and be relatively subdued unfortunately.
Foreign Ownership of Property in Thailand
As most property investors are already aware, there are certain restrictions in place on the foreign ownership of property in Thailand; for example, overseas buyers cannot hold land in their name nor can they buy into a condominium block where 49% of occupancy is already foreign.
While this restriction may hold back individual holiday home buyers, for foreign investors it’s a case of where there’s a will there is always a way which is where the Thai special purpose company or SPV comes in. This article offers a detailed examination of Thai SPVs and their use in property transactions for overseas buyers.
Property in Thailand Update
Far be it from us to say ‘we told you so’ (don’t you just hate people who do?) but regular Amberlamb readers will be well aware that we were chewing over a seeming lack of property profit potential in Hungary long before Ferenc Gyurcsany did a Ratner on his country’s economy. And so we thought it might be a wise time to offer you all our property in Thailand update seeing as they’ve just had a coup and all!
Thailand Property
The state of political uncertainty in Thailand has negatively impacted the entire Thai economy and created a situation where required foreign direct investment has stalled because investors are concerned about the potential of any investment made in the short term. Thailand property as a sector of the economy is no exception to this rule; international property investor interest has stalled.
Pattaya Property Thailand
The Pattaya property market is emerging as one of Thailand’s most exciting, successful and in demand high end markets and a series of events in 2006 will see the entire market sector further boosted.
Strong Interest in Investment Property in Thailand’s Phuket
Since the mid 1980’s tourism interest in the Thai island of Phuket has been strengthening annually, and even the devastating effects of the 2004 Tsunami in the region failed to put a dampener on the appeal of this stunning location in the Andaman Sea.
Positive Prospects for Investment Property in Thailand
Despite a number of negative factors that may slow down the Thai economy this year, the 2006 prospects for the investment property market in Thailand are positive according to leading industry experts.
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