The Thailand property market has been less damaged by current economic gloom than some other Asian countries. Many have seen enormous growth and are expected to experience a correspondingly dramatic fall in their economies. However, Thailand’s slower growth in the property sector, accompanied by its continued appeal as a top holiday destination are now allowing it to weather the current financial storm a good deal better than other markets. Well chosen property in Thailand, particularly in off-plan developments, remains a relatively stable longer term investment opportunity.
Tourism numbers are of course down so that investors who purchased buy-to-let properties in Thailand have a smaller target market in the short term. Many investors are taking advantage of the fact that the government currently regards foreign purchase of land and property as a great opportunity and the purchase process for foreigners is becoming a lot less complicated than in the past.
There are a series of superior property developments currently being constructed that are receiving great interest in both the resorts of Hua Hin and Lanta Island. These areas of Thailand are under the process of being brought up to the high levels of infrastructure that Phuket now offers.
Investors in Thailand are still keen to get into the property market because the overall appeal of Thailand as a tourist destination has not changed. It is a vibrant, exotic, charming and exciting country that offers property investors good medium to long term potential, while the government is currently encouraging foreign investment in Thailand through several tax advantages.