With all the politics of the last year the property market in the high end condo developments have taken a knock and prices have come down. This boon to investors however will not last long. Real estate agents in Thailand are reporting strong local buying of property and expat buying in the lower end of the property market however the big investment buyers are still standing on the sidelines after the political upheavel of the last few months. Most units being sold in Thailand especially in Bangkok and Pattaya are mainly for retirement and not as investment property. Many real estate agents have also reported that the high end property market has come down in price and that if you are considering buying high end villas or condominiums, now is the time to buy as the market is soft and prices are down.
This comes at a time when the government has stopped injecting money into the market by way of lowering transfer fees. This was extended less than a month ago and many hope that the government would continue keeping the transfer fees lower for the remainder of the year. Most foreigners are looking at the Thai elections later this year as an indication of what to expect and then to buy when the market is on its way up. If you are considering retirement in Thailand then consider buying in Thailand after you have rented the property to view the area where you wish to live for at least a year. If you are married to the Thai then consider more options available to you.
If you are looking at buying real estate in Thailand then speak to any of our real estate attorneys to advice on property or any real estate purchases. Speak to us also about servitudes in Thailand or about company registration to hold your property in the name of the company. This also requires tax advice in Thailand, so walk into any of our office for a confidential discussion. Speak to us today about property investment in Thailand.
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