Thailand is known to have some of the least restrictive overseas property ownership rules. According to Chinese real estate portal Juwai.com, Thailand was the most popular country in the world when it comes to enquiries from potential Chinese real estate buyers in 2018. The Southeast Asian country has diverse options to offer, making it an attractive destination for property investments.
Property prices in Thailand have been on the rise in the last decade, attracting investors who see the country as a good place to grow their wealth.
When buying real estate overseas, the decisions on investment hinge largely on economic incentives and growth potential. Ranging from location attributes to property designs, here are the four most sought-after locations in Thailand by overseas investors.
This bustling capital is undoubtedly one of the top-invested places with plenty of opportunities. Other than being the city of Thailand with many cultural sights to behold, investors are attracted to Bangkok’s high potential for growth and healthy yields. Bangkok also serves as an ideal destination to invest in large-scale residential projects due to governmental support, prime location near popular tourist destinations and various food stores. The modern amenities and well-developed infrastructure greatly improved convenience and ease of travelling by public transportation. Properties located closer to a Bangkok Transit System (BTS) Skytrain station and Bangkok Metro (MRT) Subway command a premium. As a rule of thumb, stick with real estate not more than 500m away from the BTS Skytrain or MRT.
2. Chiang Mai
Chiang Mai, the next largest city in Thailand, is experiencing tremendous growth. A place of blissful living for everyone, Chiang Mai is like a melting pot of the North where all activities can be done here. From sipping a cup of coffee amidst its vibrant downtown to exploring the natural wonders, Chiang Mai provides a relaxing lifestyle. The place is enveloped in culture, history, and peacefulness, as compared to the busy streets of Bangkok. This is the city to consider for a quiet and relaxing home to settle.
One can look to the Glory Boutique Suites, a five-star condo project located in the city center, making it easy for residents to get around. From here, it's easy to reach Tha Pae gate, an iconic fortress liked by many and a place to host special events during the Thai New Year and Loi Krathong festivals. There is also Night Bazaar, a shopper's paradise located around the old city which sells anything you can think of while the Nimmanhaemin Road is known for its trendy cafes, multicultural restaurants and buzzing nightlife scene attracting local and tourist party-goers.
Pattaya is perceived as one of the most livable cities in Thailand. While Pattaya offers life at a slower pace, one is just 30 minutes’ travelling time on the high speed rail to Bangkok.
For those on the lookout for somewhere to live happily, Ramada Mira Pattaya is the ideal abode worth moving into. Its location at the heart of Pattaya offers dwellers comprehensive facilities, enormous shopping malls such as Terminal 21 Pattaya, Tesco Lotus near Wongamat and Pattaya Beach. Also within close proximity is Art in Paradise, Alcazar Cabaret Show, Tiffany's Show Pattaya and all kinds of entertainment hotspots, it is plain to see why people keep flocking here.
Phuket is Thailand’s largest island and is one of the country’s 77 provinces. Another popular beach destination, many are flocking to Phuket to enjoy the beachfront oasis. Tourism has helped in boosting the local economy, which in turn has increased the value of local properties.
If this is something you desire, look no further than Laya Resort Phuket, a swanky resort getaway perfect for either the purpose of living or investing. Within a walking distance guests will find one of Phuket's peaceful beaches, Layan. About 1.9 km. away lies the only Michelin-starred restaurant in Phuket 'PRU'. More to this is a golf course, lifestyle shopping malls, International School and a convenient travel to town within just 30 minutes.
Further reporting by List SIR SG. Article originally appeared in List Sotheby's International Realty, Thailand