Factors To Know Before Buying Land in Thailand
Buying land in a foreign country might appear worthwhile, but it can turn into a thorny affair if you do not have any proper investment plans pertaining to buying land. Be it in Thailand or in any other country, you need to ensure that you consider several factors before jumping into any decision.
So, what are the things to keep in mind if you are really interested in buying land in Thailand? What you need to check beforehand for safeguarding your investment? Here are the answers to your queries:
1. Reasons for Investment
This is the first thing to consider while you are still thinking about property investment in Thailand. You need to consider whether you are buying property for setting up a permanent home or for any other investment opportunity. When you have decided upon you purpose, it becomes easy for you to find the right location and follow the correct procedure for acquiring land.
2. Consider the Rules
First of all, remember that no foreigner is allowed to buy land in Thailand. You can only do that if you are involved with any Thai company or if the majority of the shareholders are Thai. So, you are only left with two options- either you get into a 30 year lease agreement like most foreigners do or you can own land as long as at least 51% of the shareholders are Thai.
3. Financial Opportunity
Finding the perfect location for property investment can be a tricky affair if you are not clear about your financial goals. If looking for a financial investment, consider the areas that offer the most advanced infrastructure in Thailand. There are many provinces in Thailand that are growing exponentially in terms of finances and infrastructure.
4. Unpredictable Foreign Exchanges
This is the most important factor that are often overlooked by investors buying land in Thailand. The shifting value of foreign exchange in which you will be purchasing your property might be a cause of headache for you. Your property might gain value in the local market but it might translate into a loss if the value of the foreign currency, in which you will be buying your property, continues to fall. So, consider the health of the foreign exchange as well.
5. Economic and Social aspects
The cost of living of any area matters immensely if you are planning to buy land in Thailand. Research beforehand. If required, consult locals or experts to find out the best area where you can expect a modest expenditure. Moreover, social aspects such as transport, health care services requires to be kept in mind before making any investment plans.
Most of the times people tend to forget few factors before making any offshore investments. I hope the above mentioned issues have helped you to get an insight into the things to consider before making any choices.Tags : Buy Land In Thailand, Buy property in Thailand, Buying land in Thailand,