What You Need to Know Before Investing in Thailand Property Market

If you’re a foreigner looking to invest in a Thailand property, you might want to read this post before making any decision or booking an appointment with a seller.

Recent years saw changes in acquiring real estate property in Thailand. For example, foreigners are now allowed to look into the Thai real estate market for the possibility of investing in one. Take note, though, that foreigners are only allowed to purchase condominium units and apartments or buildings even, but not the land itself.

If you’re a foreign national, you can choose to register at the Land Office for a 30-year renewable lease and after which renew the lease contract. The case is different if you own a company as you may be allowed to own a land.

If you are going to take this route, though, then you will need help from an experienced real estate lawyer. You need to understand the processes involved in your purchase of property and have someone you can ask for your immediate concerns, or anything that you don’t understand.

Here are a few more things worth knowing before pushing through with investing in Thailand property market.

Look for expert property agents.

One common concerns among foreigners looking to invest in Thai property is the language barrier. This is where local property agents would be able to help you the most.

Thai locals are familiar with the area and can also speak or negotiate with concerned individuals. They can help you save time in terms of getting to the area for inspection and looking for properties that fit within your price range.

Sellers serve as the liaison between you and the landlord or seller. They can represent you and ensure that your best interests are considered at all times.

Check if the property developer is reliable.

Before buying property in Thailand, you’d want to make sure that the land developer can indeed be trusted. You can start by checking if the company has local offices in your country.

This will help give you peace of mind knowing that you can get in touch with someone about your property and talk to them in your native tongue.

Make sure to as well review the credentials of the developer. You’d want to know how many years they have been in Thai real estate industry along with other projects they have launched so far.

Look into their other services as well such as Aftersales and Customer Service. You’d need these areas performing well especially if you would only be able to visit Thailand occasionally.

Keep yourself updated with Thai real estate news.

It’s not hard to find online news about Thai real estate in English. Make it a point to know what’s going on so you would as well know which questions to ask when coordinating with sellers or property developers.

It’s always beneficial to understand an investment before you sign up yourself for it. This is also one way you can gauge if the people you’re talking to are actually experts in the field.

Familiarize yourself with the legal process.

This is among the most complicated part of investing in real estate in Thailand because any violation can jeopardize your property.

You’re using money you've worked hard for so it is only fitting to ensure that you’re taking the steps the right way and according to the law. Don’t sign in any contract or agreement even if the team seems accommodating and friendly unless you have discussed legal matters with a real estate lawyer or solicitor.

You’d also need to protect yourself and your investment. If you’re thinking of skipping this option to save money, just think of the possible impacts should any legal issue arise along the way.

As much as possible, you’d want to mitigate risks involved in your purchase.

Finally, study methods of ownership possible.

But first, make sure to have checked with the land department if a title is registered under the name the seller tells you. You’d want a proof that the seller is authorized to sell the property and that the property actually exists.

By coordinating with local government agencies, you’d also learn more about the property - whether you can build structures on the area whether the land is mortgaged etc.

Make sure to review all contracts, again with a lawyer. As with any other form of investment, you’d want yourself protected before investing in any property in Thailand.