Thailand Property Market
It is encouraging to note that the luxury end of Bangkok property market is least affected by the political woes and that downtown Bangkok condo market is still getting strong demand. As demand returns, Thai developers are planning more condos. Thus, it is time for investors to enlarge their investment portfolio to include Thailand property as there is tremendous bandwidth for current prices to rise a lot more. The property prices there are nowhere near Japan, Hong Kong and Singapore prices for sure.
The Thais actually went out to purchase Thailand property during the period of the coup. This goes to show that the Thais still have great faith that their country will normalise very fast which indeed turned out to be true. Foreigners who had visited Thailand during the coup attested to the fact that the majority of the Thais still went about their work and their everyday lives remained very much the same.
Thailand Property: Demand From Britain And Russia High
According to The Nation (Thailand press) on 13 June 2014, it was reported that foreigners are still keen in Thailand property despite the coup. European buyers especially from Britain and Russia are looking at Pattaya and Phuket prices which range from BT 5 million to higher than BT 10 million. When Bangkok’s Sathorn Road condominiums went on exhibition in Singapore the previous week, 12 units were snapped up. This was despite the fact that the country was under the management of the junta since 22 May 2014 (according to Knight Frank Chartered Thailand Co). Foreign investors knew what was happening in the country and continued to invest in residential projects. This is because the Thailand property prices are still lower than in other Asean countries.
Thailand Chinese Buying Houses In London
The Thais have keen interest in investing in Asia and Europe properties as the return on investment from real estate is still high as compared to deposits and other assets. Thai Chinese have been buying houses in London so as to house their children who study there or to generate rental income. Demand is 50% higher than supply for residential units in London. Hence, rental returns are high. London residential prices has risen more than 50% from 4 years ago. Prime central London will do well in the future.
Thailand Property No Capital-Gains Tax And Baht Is Low In Value Now
As for non-UK buyers, it is to their advantage to note that the Thai baht is not high in value now and there is no capital-gains tax currently. This means that it is still very affordable to buy Thailand property and to take advantage of the rise in price as Thailand progresses. New under construction properties take about 3 years to complete. The time frame is good enough for any would-be property investors to realise a good gain since Thailand is picking up progress and growing very fast.
Britain, however, will have capital-gains tax starting next April 2015 but it is not known how much it will be. This is probably the best time to pick up a London property if the Thais wish to do so for their children’s accomodation.
In September 2014, London will roadshow their property in Thailand. This shows that they still have confidence in Thailand at a time when this country is looked after by the National Council for Peace and Order.
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