Given the rapid rise in the price of real property in Bangkok, buyers’ uncertainty is not surprising. Be cautious, particularly in the Capital’s vast and often overwhelming real market for real estate.
The purchase of a home is a significant financial investment with its unique range of risks, responsibilities, and benefits. So, this article will objectively analyze the advantages and drawbacks of property ownership in Bangkok!
- Freehold condos are available to foreigners. “Condominiums” (Condos) can be described as a “legal title” that foreigners can buy directly on a freehold basis. Foreigners can also own, sell or transfer condominiums within Thailand without restriction. This simple property ownership law has enabled the condominium market, particularly in Bangkok, to expand and overgrow!
- Potential for capital appreciation and rental returns. Bangkok is a critical business city that serves Thailand in addition to South East Asia. Consequently, there is a thriving rental and resale market for property. Additionally, Bangkok property prices have seen an increase in value because of the growth of the city and its economy.
- High-quality residential developments are available in Bangkok. Recently, developers have launched several residential products, leading to fierce competition. The result of this competition is the increasing number of quality residential developments which offer an array of amenities. Bangkok developments often have luxurious amenities like libraries, pools, gyms, and even rooftop garden areas.
- Foreigners cannot own land in Bangkok. Foreigners may possess “Condominiums” (Condos) for a fee based on freehold. It means they cannot purchase the ground in their name. It makes acquiring any land a complex ownership decision.
- You are buying cash and have limited financing options. Foreign buyers typically have to buy their property with cash because local banks do not provide loans to foreign buyers. It means that purchasing properties in Bangkok is an investment in money.
- The second-hand market can be challenging to operate. Although there is a thriving resale marketplace, particularly in Central Bangkok, the Capital also has large condominiums (Completed and under construction). As a result, it reduces demand as resellers seek attention from buyers.
In conclusion, deciding based on the buyer’s financial and personal situation is essential. From an investment standpoint, Thailand and, by extension, Bangkok’s market and economic fundamentals are in good shape. But, Fresh’s editorial would want to remind buyers that they should only invest when they are in excellent financial standing. Additionally, investors should ensure they have a “long-term investment time frame”. For example, look at this property https://grandunity.co.th/th/mazarine-ratchayothin