Condo developments in Thailand are competing to attract the attention of buyers as well as tenants. Intense competition has forced many developers to add more amenities beyond the simple comforts of home from swimming pools to fitness centres. Finding a condo that offers these amenities are likely on top of your list. This is where www.siamrealestate.com can help you find the perfect property.
Finding a property in a perfect location
You can pick a property based on its location, neighbourhood, and proximity to mass transport systems. Bangkok properties are highly in demand among foreign investors. The most popular neighbourhoods are near shopping centres, schools, hospitals and public transport like Metropolitan Rapid Transit (MRT) or Bangkok Mass Transit System (BTS). Both of the transit systems are being expanded to open up more new neighbourhoods in the future.
However, condominiums that are located near the MRT and BTS Skytrain are usually priced double or triple a similar property elsewhere. A condo unit that is located 100 meters from mass transport systems is very unlikely to be sold for less than 200,000 baht per square meter.
If the condo unit is located 500 meters away from a mass transport station, the price is reduced by half. The more kilometres a condo is away from mass transport stations, the less will be the price. Property buyers usually consider convenience when deciding on property investment. Mass transport systems allow them to go around Bangkok easily.
Sukhumvit is one of the most appealing neighbourhoods in Bangkok for the vibrant and cosmopolitan lifestyle. A condo will be an ideal investment for a foreign property investor because foreigners are allowed to own condos freehold. Thailand laws allow foreigners to hold at least 49% of the units in a condominium freehold. This means that the foreigner will use foreign currency funds that have been remitted from abroad to fund the purchase.
Why it makes sense to invest in Thailand property
Thailand’s property market continues to be attractive to foreign property investors because the country is a financial and travel hub in the region. Even if the general economy has experienced slow growth in the last 3 years due to political uncertainties and lower oil prices, it is expected to be short-lived. The country’s economy is stable and resilient. The tourism sector is also expected to bounce back after the coronavirus crisis is controlled.
Thailand is very welcoming to foreign investments. Aside from very low property transaction costs, there are no annual property taxes. Thailand’s real estate offers excellent value with high capital appreciation. There are first-class management services and resort managed properties for foreign investors who want their investment managed well to retain its maximum value. There are professional international and local real estate firms like www.siamrealestate.com that will ensure an efficient buying and selling process.