Thailand is one of the most beautiful and amazing countries in the world, with gorgeous scenery, wonderful people, and, of course, incredible cuisine. While this country is undoubtedly well worth a visit, it can be tricky to decide if it is worth taking the plunge and buying a condo in Thailand. Here we will have a look at how easy it is to do so and if it is indeed the right move to make.
Is it easy to buy a condo in Thailand?
It is possible and fairly easy for a foreigner to buy a condo and involves just a few steps to get you on your way. Firstly and crucially, only 49% of the condominium complex can be owned by foreigners, so you must make sure that your purchase won’t go over this limit. The condominium must be legally registered and you must make your purchase with money sent from overseas. If you can meet these criteria, then you shouldn’t have too many problems in buying your new condo. That said, it is always a good idea to stay up to date and check the Thai Embassy for information on how to buy a condo in Thailand.
What are the benefits to renting out your condo in Thailand?
There are a number of benefits to owning a condo and renting it out, both for you and your future tenants. Here are a few to get you started:
- You can do some travelling while letting others enjoy your condo and its location – With beaches and islands, mountains and forests, and big bustling cities, Thailand has something for everyone. You can buy a condo in one part of the country like, say, Pattaya, and then decide to head to Krabi and see its beautiful sights, or enjoy the mad rush of Bangkok while your condo pays for itself.
- Your condo will be cared for – Instead of having a property left empty and risking falling into disuse, having tenants in to take care of the upkeep will save you the hassle and worry.
- You are making an investment in the future and still earning in the short term – Real estate is almost always a good investment, and with Thailand becoming an ever more popular destination, buying a condo here is a great way to look after your future. By renting it out as a holiday home, you are also gaining in the present, getting an income while also owning the property.
Thailand is known to be a fantastic holiday destination and is popular with visitors and travellers from all over the world. If you are not planning to live in your condo all year round, it can be a great idea to rent it out to others so you can make money and keep it occupied while you are living elsewhere. It isn’t always easy to find tenants to stay or those that you can trust, but if you do it right and use the right agent, you can have your dream condo and earn some cash at the same time.