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Thailand is one of the most visited countries in the world. There’s a huge demand for properties in Thailand from cash rich overseas investors, especially from China.
However, the country has had its fair share of economic problems recently. The Thai economy has struggled over the last few years as well. What does mean for the buying and selling property trends in Thailand for 2017? More important, what does this mean for Thailand as an overseas property destination?
Thailand has a flourishing luxury property market, which has been doing very well recently and shows no signs of slowing down. However, the other end of the market hasn’t been doing as well.
The luxury properties in Thailand are very popular with cash rich overseas investors, the sort of people who can afford paying over $500,000 for a holiday home or second home.
Generally, the overseas property market is closely linked to tourism. Thailand is one of the most visited countries in the world and a major hub of tourism. Tens of millions of tourists visit Thailand every year.
After all, Thailand is perhaps one of the most beautiful countries in the world, with vast beaches, great climate, lots of sun, diverse culture and a relaxed lifestyle. The people of Thailand are very friendly as well, and generally welcoming to tourists.
What makes Thailand such a great tourist destination also makes it a great overseas property hotspot. It’s no surprise that Thailand attracts cash rich international investors from all over the world.
Bangkok and Phuket are the most popular areas to buy property online in Thailand. The property market in the country is expected to grow at a rapid clip in 2017, at a healthy rate of between 5 to 10 percent.
Phuket is one of the most popular beach resorts in the world. Phuket gets a lot of attention from international property hunters. This is despite the fact that Thailand faces a tough fight against Islamic extremists.
There’s a threat of violence in some parts of Thailand, which has certainly created a lot of uncertainty among many wealthy individuals who are looking to buy property here. The strict military action conducted by the government against the extremists will have reduced the tension somewhat.
Another issue with Thailand is the strong Baht, which makes Thai properties more expensive than they should really be. The bureaucratic lethargy and corruption is a negative factor as well. This certainly discourages foreign buyers from investing here.
Still, despite such fundamental problems and serious roadblocks, Thailand is doing well as an overseas property destination. There are a number of wealthy Chinese individuals who want to buy property in Thailand. Thailand is geographically close to China and shares many cultural similarities.
That’s why Thailand is considered to be one of the 10 most popular overseas property destinations for Chinese investors according to Juwai.com, the popular Chinese property portal. Chinese buyers are attracted by the low real estate prices in Thailand, compared to other destinations such as the United States, UK, Spain and Australia.
Contact us today to buy or sell property in Thailand fast in 2017.