Investment is the Best Reason to Smile in Thailand
Thailand is at the very heart of Southeast Asia, occupying an area of nearly 200,000 square miles. Thailand is a diverse and beautiful country where the terrain ranges from forested mountains in the north, to rice fields of the central plains and the tropical coastline and sandy beaches of the south. Thailand is affectionately known as the land of a thousand smiles, its tropical climate and welcoming people have been a beacon to holidaymakers and travellers alike. In recent years overseas property purchasers have been looking to buy a piece of this tropical paradise, here are ten reasons to smile when considering investing in Thailand:
- Year Round Tropical Climate
Thailand is blessed with a magnificent tropical climate, with high temperatures and humidity; April and May are the hottest months of the year. Thailand is an ideal winter sun destination with November to February probably being the most pleasant time of the year when the cool breezes from the north east offer some welcome relief from the humidity of earlier months. The Thai climate is good news for investors, meaning that they have a year round holiday destination for their own use or a rental property that has potential to deliver a good rental return.
- Strong Tourism Industry
With visitors from Europe, USA, Australia and Asia, Thailand remains one of the world’s most popular tourist destinations, with over 14 million visitors arriving in 2007 (Thailand Tourism Authority). Such a strong tourist market means that quality accommodation is always in demand, which is great news for investors looking to rent out their property. Owners in the Oxygen Bay, Bangtao, resort in Phuket,will certainly not have any trouble renting out their property if they wish. Only a short distance to the beach front, 15 minutes to Phuket town and 25 minutes to Phuket Airport these properties stand in a fantastic location. Prices start from £178,500 / THB 11,887,771.
- Money goes a little Baht Further
Thai property benefits from being located outside of the euro zone, offering investors a way to stretch their hard earned cash that little bit further. The Thai property market is still relatively undiscovered with property often cheaper than more established European markets. Some property investors have witnessed impressive returns over the past few years particularly in areas in the south such as the island of Phuket. In fact experts estimates that currently capital appreciation is around 10 to 15 per cent per annum. Thailand also has no capital gains tax for private investors and taxes in general remain low adding another incentive to purchasing.
- Low Cost of Living
The cost of living in Thailand is relative, you can live on a shoestring budget or go for luxury as you desire. Generally though Thailand offers some amazing bargains and low living costs. Across the country you can find many local markets which are generally the cheapest places to food shop. Bangkok and Phuket offer excellent value for the local facilities, restaurants and amenities. Property is still available for much lower prices than other Asian Cities, such as Hong Kong and Singapore.
- Resilient Economy
Thailand is the second largest economy in Southeast Asia and has seen estimated growth of 5.1% this year (Fiscal Policy Office Thailand). Blessed with an abundance of natural resources, strong manufacturing sector and excellent export growth Thailand’s economy is looking in a strong position for the future. The Thai Baht has been steadily rising against the US Dollar and the economy has shown little sign of being affected by the global credit crunch. Even Donald Trump is taking advantage of the great real estate opportunities in Thailand by investing in Bangkok.
- New Double Taxation Treaty
A recently agreed deal betweenHM Revenue & Customs (HMRC) and the Thai authorities has eliminated the need for British investors to incur the double taxation of income and capital gains arising in one country and paid to residents of another.With investment in Thailand getting more popular this should come as great news for those looking to purchase one of the spectacular properties available in this stunning country.
- Island Paradise Properties
Thailand offers beautiful mountains, dense forests and stunning beaches, a tropical climate and cosmopolitan cities. Property can be located in the most astonishing of settings, take for example the Kokyang Estate II, situated close to the dazzling Nai Harn beach, one of the most beautiful in Phuket, with its clear waters and nearby jungle-covered mountains, the resort really is out of this world. Apartments are a wonderful mix of local tradition and western modernism. Prices start at £159,110 / ฿10,716,759 for a 2 bedroom, 2 bathroom villa and from £171,876 / ฿11,576,605 for a 3 bedroom, 3 bathroom villa. Phuket really is a tropical island paradise for escaping the day to day existence of home. Whether you are looking for a first class adventure holiday or simply a place to unwind in sheer luxury, this awe inspiring island is the place for you.
- No longer a world away
Thailand was once viewed as an exotic long-haul destination however with developments in aviation the country is now a sophisticated fully fledged tourist destination with direct flights to Bangkok and Phuket running from the UK daily. A 12 hour flight can see you arriving in Bangkok or Phuket, and once you have arrived Thailand is now even easier to explore thanks to its excellent bus and rail networks, which are cheap, easy and reliable.
- There’s no place like home?
English investors looking to live in Thailand may be pleasantly surprised by how well accommodated they are. English is widely spoken and Westerners are welcomed by the friendly local people. Can’t live without those home comforts? Then you’ll be pleased to know that Phuket even has a branch of Tesco for those essentials. Sportsmen and women too will be delighted by the facilities available for football, badminton, tennis as well as the magnificent golf courses and world class dive centres.
- Ideal retirement destination
Thailand is a popular destination for those considering relocating overseas in their retirement. Retirees are attracted by Thailand’s relaxed pace of life, low cost of living, excellent health care system, rich culture and low taxes. Thailand makes an effort to simplify the emigration process for retirees by offering retirement visas for foreigners over 50 years of age.
So with all the benefits of recent tax regulations and the relatively low price of property in Thailand, is now the time to invest? Steve Worboys, MD of Experience International seems to think so: “With Thailand still emerging as a property investment destination prices remain low. There are undoubtedly some very attractive real estate opportunities to be found in certain locations within Thailand, like Phuket for example.”
For more information about purchasing property in Thailand please visit www.experience-international.com or call 0800 612 0901.