Real Estate is a big business and people want to be able to take part in it. Many are looking for new locations around the globe to build. Outside of Europe, people look to the Far East. Thailand is the largest real estate market in the Far East. Thailand is an extremely popular tourist destination and it is very easy to reach from anywhere in the world. An increasing number of people want to live there as well as go on holiday. Read more now on Phuket real estate agent
Thailand real estate is a great investment for those who are able to build houses, apartments, condos or villas. Prices in Thailand are lower than those in the United States or Western Europe. Why isn’t everyone investing their money in Thailand real estate then?
Unfortunately, there are many complex and wide-ranging laws that govern the purchase and construction of property in Thailand. This makes the process far more complicated than other countries. A rule in Thailand prohibits foreigners from owning land, but they can own buildings. You can either lease the land for a period of 30 years or buy the land from a Thai firm. The last option is preferred, but Thai companies must have at least seven board members. Five of them should be Thai. It can get very complicated, and it is important to have local knowledge in order to meet all requirements.
There are also issues with immigration laws pertaining to the purchase of Thailand property. Individuals may be required to enter or leave the country at least four times per year depending on their visas. They can also apply for extensions.
Even though there are barriers, it is possible to make money by renting out buildings in places like Phuket, which are becoming more popular with the tourist industry.
Thailand Real Estate can be a lucrative investment for those who are willing to invest the time and money in research. A good lawyer and agent are recommended. These professionals are essential when it comes to dealing with taxes, laws and fees.