If you are considering buying a condo in Thailand then look no further than our property lawyers at Siam Legal. With offices in all the major cities in Thailand we will assist you in obtaining the property you want without the risk involved that you would normally expect.
Buying a condo is the easiest form of property ownership in Thailand. Most property sold over the last 10 years in Thailand has been condominium units. These units have varied in price however the property valuations have increased dramatically. Some condo units in Pattaya have seen their value more than double in the last 5 years alone. Property investment is a good investment in Thailand. Not long ago while the rest of the world saw a devaluation of property in their home countries properties in Thailand held their values and many in Bangkok increased in value during that same time.
One good example was the development of the ‘sky train’ in Thailand and the increase in the coverage area of the subway system. Properties in the area of both of these mass transport methods saw their value increase by more than 100% all in the space of time of less than 2 years. This prompted the government to release a statement in the media that property speculation is going to create a property bubble for those located near mass transit.
Value increases over the past 3-4 years have been outside of the ordinary. Property located in Chiang Mai also saw an increase in prices. On average the prices increases in 1 year for Chiang Mai was 5%. This even though Chiang Mai is not as popular as say Bangkok, Phuket or Pattaya. Property values in Pattaya have seen the same. Our attorneys in Pattaya have reported that property prices for condo units in Jomtien have seen a huge increase in value considering how small many of these units are. Many have viewed it as expats buying into the market and renting the property to short term or long term expats in Thailand. All-round property investment in Thailand has shown a massive increase in foreign capital as many decide to buy and lease the property to others as a ‘working investment’ which they can control and where the cost to maintain the property has always been very low.
If you are looking at investing in property in Thailand then speak to any of our property attorneys in Thailand.