Buying Property in Thailand - Some Thoughts about Owning Property in Thailand

Owning Property in Thailand

If you plan on owning Property in Thailand, you'll have to think about the garden ornaments! Thailand, in Southeast Asia, has been a popular tourist destination for many years, and despite some economic and political uncertainty in recent years, not least the devastating tsunami of 2004, which left 8,500 dead, and many tourist resorts in ruins, and the coup d`état of 2006. Thailand is emerging, once again, as a luxury holiday location. Thailand is 6,000 miles, or approximately 11 hours, by air from the United Kingdom, and although this may not be suitable for everyone, demand is high enough to ensure a select tourist presence, and a burgeoning buy to let property investment market.

The property market in Thailand is, generally speaking and despite some restrictions on owning property in Thailand, and land, by foreign nationals - biased in favour of Thai landlords.

Seaside properties are considered, by most, to represent the best opportunities for buy to let investment in Thailand, but other regions for owning property in Thailand are also attracting attention.

Hua Hin lighthouse - A beacon for owning property in Thailand Hua Hin, on the west coast of the Gulf of Thailand has been, unlike Phuket, or Koh Samui, which have only been "discovered" comparatively recently, the favoured beach resort of the rich and famous locals in Thailand, as well as foreign visitors, for more than 70 years.

Hua Hin is still a working fishing port, and manages to maintain a certain olde worlde charm, combined with attractions of a modern holiday destination. The islands of Koh Chang, and Koh Samui continue to deliver annual capital growth of between 10% and 15%, and rental yields of similar proportions. The seaside town of Pattaya is only an hour, or so, away from Bangkok International Airport, and property here is close enough to the city to generate good rental income from daily, or weekly, commuters.

Buying Property in Thailand & Owning property in Thailand

An invitation to owning property in Thailand The first point to note about buying and owning property in Thailand - whether for buy to let, or any other purpose - is that you, as a foreign national, cannot own land. Property must therefore be bought via Limited Liability Company, registered in Thailand, or a leasehold agreement - of 30 years duration, and renewable - similar to that available in the UK. Further terms and conditions apply, so it is vital to secure the services of a solicitor, and an estate agent, to guide you through the intricacies of the process. Thai banks are way of lending money to foreign nationals, and it may be difficult to obtain a mortgage for more than 50%, or 70%, at best, of the total purchase price of a property. Many property developers, however, are happy to arrange a mortgage with a Thai financial institution on behalf of a foreign buyer.