3 Things People Real Estate Investors get Terribly Wrong about Thailand
Relocating and investing in a new country is a very important decision. This is why it’s essential that you know everything there is to know about the country before you make the move. But it’s also important that you don’t base your ideas on misconceptions and don’t take certain countries off your list because of common myths.
Thailand has plenty to offer and has many advantages that make it one of the most popular destinations for expatriates and real estate investors, but some people may reconsider living and investing there because of half-truths or preconceived ideas. Here are some of the things people get terribly wrong about Thailand and the truth behind the myths.
You can Only Get Short-Term Rentals in Thailand
This mainly stems from the rule that prohibits foreigners from actually owning land in Thailand. While it is true that you can never truly own land in the country, there are ways that you can go around it.
For instance, instead of buying, you could sign a 30-year lease on the property. You can also buy an apartment in Thailand as a foreigner, however, the building absolutely has to be owned in majority by Thais. For instance, you could invest in holiday property through a reputed developer like Cassia group, which operates many condo properties in the country. You could buy a 2 bedroom apartment Phuket with seaview and rent out the property to visitors to some extra money that way. There are plenty of real estate investment opportunities in the country if you know where to look.
Commute is Difficult
While driving in Thailand can sometimes feel like an adventure, once you get used to Thailand traffic, you shouldn’t have too many issues as long as you drive safely. You also have to make sure that you have a Thai driver’s license if you intend to ride a bike or car in the country. And you have to make sure that you follow safety rules and wear a helmet at all time while riding there, even if you see locals not wearing any. The highly efficient public transit system is also one of the reasons why Thailand is popular with ex-pats. So, if you’re thinking of investing in property, it would be wise to consider how close it is to a BTS station.
It is Miserable During Rain Season
While it does rain more during the monsoon, it doesn’t mean that it rains every day. It’s true that downpours can get pretty violent during the season, but for the most part, they are over pretty quickly, and you get to enjoy some sunshine during the rest of the day. So, don’t let the rainy season scare you from moving or investing there.
Conclusion
Thailand can be a great place to relocate and invest in and one that should definitely be on your list if you’re looking for a place with a great quality of life, growing infrastructure, and a robust real estate market.