Real Estate in Thailand: A Paradise For Retired Expats And The Best Investment For Families
Property in Thailand
Real estate in Thailand is popular with foreigners due to various reasons. The developers in Thailand are having plenty of offers now suitable for every budget and requirement, whether you have a family with children, or want to spend the autumn of your life in the Kingdom.
The popular American magazine International Living has compiled an annual ranking of the best countries to live in retirement. Thailand is the leader in Asia, not for the first time.
By the way, the editors of the magazine named Bangkok, Chiang Mai, Phuket, and Hua Hin the best places to live in the country.
Note that when compiling the rating, International Living usually takes into account the cost of living, ease of obtaining a visa or residence permit, the availability, and quality of medical services, housing prices, the cost of food, climate, ease of adaptation, variety of entertainment and small business opportunities.
On all these points, Thailand was able to get ahead of other Asian countries.
As the magazine emphasizes, the cost of living in Thailand is about two times lower than in the United States. Here, a pensioner can comfortably live on USD 1,000 a month, including, by the way, renting an apartment, because a month’s rent for an apartment in the Kingdom will cost a pensioner USD 500. If you buy this apartment, the cost of living will be two times lower!
In total, 25 countries from South America, Asia, Central America, and Europe were included in the International Living rating this year. After Thailand, which scored 72.9 points on the scale of the comfort of living, came Cambodia (72.3 points), then Malaysia, the Indonesian island of Bali, and Vietnam.
The glossy magazine International Living has been published monthly for 42 years and is considered the authoritative source of information if you are one of those who want to change their country of residence or start investing money.
The publication annually ranks the best countries in the world for retirees who plan to move. Who knows: perhaps the editors of the magazine are responsible for Thailand’s extraordinary popularity among retired foreigners!
Phuket is a top investment and family destination
Phuket is the pearl of the Andaman Sea. There is stunning nature, mountains, and beaches with white sand.
Over the past 20 years, the island has become a Mecca for expats from all over the world, and there is an explanation. There are several things that make the place perfect:
- year-round swimming season,
- unique climate,
- rich nature,
- and, in addition, an international airport that receives flights from many countries.
Well-developed infrastructure offers everything for a comfortable life – yacht clubs, golf courses, tennis courts, international schools and gardens, and hospitals where you can get world-class medical care.
Foreigners buy property in Phuket for their own residence or solely for the purpose of generating income.
This is the only region in Thailand where prices and demand for real estate are steadily growing. The fact is that Phuket is an island, which means that the amount of land is limited. In addition, about 80% of the island is occupied by mountains and national reserves, where you cannot build. Therefore, the entire infrastructure is located from north to south along the coastline 50 km long.
Yes, and there it is allowed to build buildings no more than 7-8 floors on flat terrain and 1-2 story buildings on the slopes of the mountains with a fantastic view of the ocean!
The minimum price for a 30 sq m studio in a developing area of Phuket starts from USD 80,000, and in more popular tourist areas – from USD 100,000. Spending USD 250,000-300,000 you can buy a small villa. There is no upper threshold for investment, it is quite possible to buy a luxury villa here for USD 10 million. Although professional investors prefer to invest in the purchase of several apartments managed by international hotel chains, which will bring 10-15% of annual rental income.
Real estate in Thailand
The developers in Thailand are having plenty of offers now suitable for every budget and requirement, whether you have a family with children, or want to spend the autumn of your life in the Kingdom.