Real Estate in Thailand

Real estate in Thailand involves a variety of property types that cater to different lifestyles and client choices. The choices being mentioned here range from bustling cities like Bangkok to the cool and chill atmosphere of Phuket, and we have the scenic and mesmerizing landscape of Chiang Mai, needless to say, all the options are enticing enough to make people want to purchase real estate for investment in Thailand. Although the process of purchasing properties in Thailand might have become complex because of certain regulations, like the foreign ownership regulation or the type of property you want to buy; for example, foreigners can’t completely own industrial properties, you would have to rent or lease it from a Thai local. All these means going through the real estate complexities require you to make careful considerations, so as not to go against legal guidelines. Though this article will mention some restrictions that might be worth keeping in mind, you can still do further research.

Intricacies of Thailand Real Estates Market

As mentioned previously, Thailand indeed offers a variety of options but the intricacies are just as complex. Thailand’s real estates mostly include condos, townhouses, commercial buildings, and land plots but a severe drawback is that a foreigner is not allowed to own land and even ownership of condos come with conditions. Ownership of condos is allowed as long as you don’t own more than 49% of the area of all units. This doesn’t mean that another foreigner can own the other parts, the rule actually states that as long as a foreigner does not own more than 49% of the area of all. However, there are lease options available for these lands that will allow any foreigner to temporarily own. These options include provisions for long-term leases up to 30 years.
Another thing, property prices will differ depending on location, property type, and size of the property you want to buy. Obviously, no one should expect property prices in urban areas to be the same as other rural and developing areas in Thailand. Likewise, if you rent properties, the price will vary depending on location, size and condition of the property and whether it is furnished or unfurnished and what level of furnished or unfurnished.
As for industrial properties, foreigners can only lease these properties. For whatever purpose you want to use it for, ownership of land for industrial purposes is generally restricted, and leasing arrangements are the most common way for foreigners to access these types of properties.

Recommended Cities for Different Property Types

Most countries usually have separate areas for their residency and so on. This section will mention some best cities for residency, to start a business and where to locate your industrial buildings in Thailand. 

• Residential Properties

   The first place a lot of people think of when they want to stay in Thailand is Bangkok. It has many residential options and the demand keeps increasing to accommodate the growing population. Bangkok is a pretty important city of Thailand, the city is more urban-like than most and caters to a wide range of clients.
   Phuket has luxury villas, penthouses, houses with beautiful beach side views, in a nutshell, it is perfect for a vacation. Although all these high-end property types obviously means it will get a bit more expensive, it is worth the investment if what you are looking for is a resort-style living experience and being able to relax. That’s why it is popular among expatriates.
   Chiang Mai offers lower costs of living than the previously mentioned cities. Its type of property includes detached houses, condos, apartments, townhouses etc. Chiang Mai offers a more serene living environment with a laid back feeling, nothing of the sort of hustling and bustling of Bangkok. Chiang Mai offers a laid-back lifestyle and a lower cost of living but with a pretty standard quality. It is safe to say this place would be perfect for digital nomads and remote workers.

• Commercial Properties

   Bangkok appears on the list again and for very easy to see reasons. First, it is the center of economy and business in Thailand, this place has the most number of potential customers and clients. Second, it is already very popular among business people, especially its business districts. Commercial property types like warehouses, office buildings, can be seen everywhere in these business districts. All these and more makes Bangkok a good place to buy commercial properties.
   Pattaya is well-known in the tourism scene. It attracts a lot of people from all over, even more than other bigger cities. This reason gives it another edge apart from being a good residential area, it is very famous for its hospitality industry. There are already a lot of bars, clubs and other entertainment areas in Pattaya, so people can actually relax after a long day at work. The fresh air from the beaches can add life to any dull day.
   Chiang Mai has recently seen an increase in the demand for commercial properties, especially coworking spaces, creative offices, and retail outlets. Digital nomads are really setting their sights on this place.

• Industrial Properties

Chonburi, Rayong, and Chachoengsao are some provinces in the Eastern Economic Corridor of Thailand, and each one of these locations are really top choices when it comes to situating industrial properties. The EEC has many industrial estates, and manufacturing facilities. They have an excellent infrastructure system, and the government provides incentives for investment in these areas attracting both domestic and foreign investors.

Easy Way to Buy Property in Thailand

Thailand might be a very good country for tourism, business and investment, but the little policies and restrictions here and there can make investors turn away. However, if you are really interested in Thailand for any reason, there is a much simpler way to go about buying properties in Thailand. Using a real estate aggregator like Thailand-Real.Estate is the solution. Properties listed on their website are rightly categorized so you know which ones are for sale or for rent. You can buy properties for residency, for commercial purposes or for investment. They also have many industry properties for rent in Thailand. There is also a sorting system that allows you to sort property by types and worth, so you can plan according to your budget. The options are there and you can access them anytime, anywhere.

Hope for Real Estate Investment 

Thailand is already established to be a country with a strong economy, coupled with the fact that it is also one of the countries with the most appealing features for foreigners. Thailand attracts a lot of foreigners every year, so it might come as a disappointment for some people that they can actually be totally free to own properties in the countries, however with the recommended real estate aggregator, you can at least find houses that suits you without any of the complications of ‘not being able to own properties’. Also, a bill was passed recently to lift some of the policies and restrictions on foreigners owning properties in Thailand so there might be hope for real estate investment in the country in the near future.