Is this the right time to consider selling Thailand property to cash buyers? Thailand is one of the most popular overseas property destinations in the world, and this is in spite of its recent economic struggles and political instability.
Thailand’s luxury property market is doing pretty well and expanding fast, while the low-end segment of the property market has been struggling to recover lost ground. Indeed, luxury properties in Thailand are a huge hit with international property hunters, who don’t mind paying serious money for them.
Nobody should be surprised that Thailand is an overseas property hotspot. It is, after all, one of the most beautiful countries in the world and as well as one of the most visited. The tourism sector in Thailand is powerful and is the engine that drives the Thai economy.
There is no question that Thailand faces serious challenges, but the future of the property market here is very bright. There are a number of cash-rich buyers who love Thailand and want to take their affection for the country to a new level, by buying a holiday home here. So properties in Thailand will never go out of fashion.
Let’s talk about some of the challenges faced by Thailand. Phuket and Koh Sumai are two of the most popular resort destination in the country which gets a lot of interest from foreign buyers. But both places have recently witnessed a substantial decline in sales volumes.
In fact, it is areas such as these where foreign investors looking to buy holiday villas and condos. They have been hit by the politics in Thailand. The country faces a tough fight against religious extremists who want to disturb the secular fabric of the largely Buddhist nation.
Phuket has been affected by the stronger baht, as this makes the properties here too expensive for some of foreign buyers. There’s a lot of negativity associated with buying properties in Thailand because of the bureaucratic inefficiency, red tape and a general lack of transparency as far as foreign ownership of properties is concerned.
Despite such serious problems, Thailand is moving along the right track. The political situation in the country has been relatively stable for the last 12 to 18 months, and it is hoped that this situation continues.
There is a huge interest in Thailand coming from China. Thailand is one of the 10 major overseas destinations where the Chinese prefer to buy property, according to the Chinese property portal Juawei.com. Wealthy Chinese buyers see Thailand as a home away from home.
Thailand is geographically close to China and the culture here is something that the Chinese are very familiar with. Chinese buyers are attracted by the low property prices here, compared to other destinations such as Australia, the UK and the USA.
It’s no wonder that the demand for luxury properties in Thailand is growing. Bangkok and Phuket remain the most popular destinations for those seeking properties in Thailand. The average luxury property in Thailand costs THB 1 million per square, which is pretty reasonable.
Contact us today to sell property in Thailand fast to cash rich overseas investors.