Buying a Property in Thailand

Not many expats buy houses however there are a few who do. If you are looking at buying then speak to a property solicitor in Bangkok about the pitfalls. If you want to know what the market will look like the year ahead you simply need to look any of the cement companies.

The largest cement company in Thailand Siam Cement sees growth of cement sales this year up by at least 25%. Now either Siam has done wonders with their marketing department or there is another boom of sorts coming to the fore. With the expanded rail links now running to the airport from central Bangkok, there have been huge developments along the line as everyone appears to want to tap into the condo market as the properties along the rail lines have shown the largest increase in value over the past year. SGC, however, points to another interesting development in the property sector being that houses are taking off this year, the estimate that there would be more than 500,000 houses built this year with 40% of it being built in Bangkok itself.

With all the property developments in Thailand, it appears that townhouses have not really taken off with only 10% of the market dedicated to townhouses. 40% of the developments are single house developments. The rest are still condos. Single houses have never really been a major factor in Thailand however it appears that many people are starting to buy single houses again compared to a condo. Even though condo growth has increased the main increase has been in cheaper units. For the expats who wish to buy a single house in Thailand, you need to speak to a property solicitor in Thailand with regards to Thai property laws as a foreigner may not own land per se.

If you are looking at long term investment speak to a solicitor with regards to property leases and property rights before you sign any agreement. We at Law Firm in Thailand have many British solicitors in Bangkok and also a solicitor in Phuket who will be able to assist you with your property purchase. Buying property in Thailand is a good investment however the property laws with regards to single houses and townhouses are very complex. Don’t lose your investment or retirement nest egg.
 

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