While the pandemic has been a troublesome age for the world it has brought over some added potential to the real estate market. Even 2020 alone gave rise to new opportunities for the market across the world. The pandemic has greatly hit plentiful industries and caused some to close shop on short notice.
The silver lining in all of this would be the discounted prices on these abandoned areas, which come in handy for anybody on the real estate market. After all, the owners want to get some money back from all the losses the pandemic has caused so it makes sense to make your property more appealing. The ban on international travel additionally hampered tourist locations that firmly rely on tourism to achieve profit.
These locations had to make do with what little internal tourism trickled through and on the tourists that came after the restrictions were lifted. Thailand is one such place. Any rentals, residential sales, and investments suffered a huge dip throughout 2020 in Thailand. It even stopped many construction endeavors, along with safety risks posed by the pandemic, so there are some unfinished buildings still waiting to be finished.
The really attractive part of Thailand is the fact it has so many islands, total of 1430. However, you won’t be buying property or investing in the small rocks that float in the ocean, you’ll be going for the bigger ones. Among those, Koh Samui may be one of the best ones as it combines size and variety. We will note more about the island itself down below but for now, let’s look at the state of Thailand’s real estate.
Thailand’s real estate in 2021
With the tougher years behind us, experts started having a lot more positive outlook on Thailand’s market. The residential market may be on the way to recovery while the real estate market is already on track. A higher value is also expected in 2021, as the situation starts to calm down.
The factors at play motivate experts even more. The country is already recovering from an economic recession, its development of property infrastructure projects has continued, and recuperation from previously established measures against the pandemic.
Overall, the outlook is a lot more positive than one would expect, providing ample reassurance to potential engagement.
Before we get further
It’s important to note that Thailand has a certain law that’s very important to real estate. Foreigners cannot own land in Thailand. While that may be immediately concerning keep in mind that you are still able to own buildings or even get a building permit but you can never own a piece of land. What you can do is lease it for the sake of construction or whatever other plans you have. Said leases are very long, lasting for 30 years before the property is returned to the original owner. If your business plans aren’t longer than this lease you may find this to be barely troublesome but if it’s a bigger operation you are after there’s another way to go about it. Rather than utilizing the 30-year leasehold, you can purchase the property through a Thai limited company. To do this you need to be a minority shareholder in a Thai company. However, this will take additional investments so sometimes it’s a lot better to simply go for the leasehold and try to get the most out of it while possible.
Koh Samui as a choice
Among the many islands of Thailand Koh Samui may be one of the most beautiful ones. It’s filled with sandy beaches to pick from and the sun is always beating high in the sky, allowing visitors to have a proper summer experience. The rest of the area is no slouch either with Buddhist temples being present around the island, covered in statues of all sizes. The addition of delicious food, with a choice of cuisines on offer, if somebody doesn’t want to eat only Thai food, is very welcome for anybody who enjoys satisfying meals. At night there is a lot of time to stroll around, with a lot of things to do.
This is due to the sheer number of night markets available on Koh Samui. Living there, traveling there occasionally, or simply using the experience to further it to a customer are all viable choices. After all, places like these have something for everybody. Even those who like to party won’t feel left out as Koh Samui has a surprisingly alive nightlife.
For those worrying about potential issues with constructing, due to it being an island, you needn’t worry. You should check out some already established property in Koh Samui and get an idea of the island’s size. Even though it looks small on the map it’s the second-largest island around Thailand.
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Koh Samui as a marketable property
We’ve already mentioned some of the more prominent benefits of Koh Samui but it’s important to note that there are some formidable reasons why you may want a property there. The most prominent one being the extremely friendly inhabitants of the island making it a great place where even newcomers will feel welcome. There’s also a lot of support for those with health issues and the overall sandy island with properly structured roads allows quick access even to those who may not be the most physically fit. On top of that, the island isn’t expensive for the global standard. You will notice slight price increases between it and Thailand but it’s nothing considerable.
The real estate market of Thailand is healing and with it come new opportunities. The most prolific ones being on its islands which have some very admirable traits and are rather great to have real estate on. Koh Samui, on top of being among the biggest islands, is one of the prettiest as well. The beauty isn’t all it holds as historical monuments, unique food, and astounding wilderness all make Koh Samui a place to indulge in. Whether you wish to purchase a property for yourself or forward it to somebody, you’ll no doubt be set in any way you can imagine. Check out some available properties right now and indulge yourself in a beautiful island.