Written By: Jacquelyn Annete García Vadnais
Thailand has a fascinating history and culture that captures the imagination of tourists, and investors alike. Thailand also has incredible scenery that attracts many tourists each year to experience Thailand’s unique scenery and gastronomy. Thailand has advantages in that it is one of the few countries in Southeast Asia that has not been negatively impacted by a substantial war conflict in the past century. For this reason, Thailand is economically ahead of other many countries in its region. Thailand has recently become quite attractive to global real estate investors since the economy has seen great progress in recent years. Bangkok, the capital of Thailand, continues to surge in growth due to the prosperous economy and unique culture. If you are considering investing in real estate in Thailand, then it is wise to review the information discussed below:
A Brief History of Thailand
Thailand has a diverse history that contributes to its rich culture today. Thailand has roots related to Dvaravati Kingdom between the 7th to 10th century. After the 10th century, Southern Thailand began to be controlled by the Khmer neighboring empire that is now modern-day Cambodia. The people that are considered Thai today began to move South into the area influenced by the Khmers, which is why many elements of the cultures are similar today. Between 1238 – 1448 the Sukhothai kingdom expanded their rule further South, which spanned the majority of modern-day Thailand before they were conquered by the kingdom in Ayutthaya that is a famous historic site to visit today. In the years spanning from 1350 – 1767 Ayutthaya ended up expanding their territory to include Laos, Burma, and modern-day Cambodia. In 1767, Burmese forces sacked the capital in Ayutthaya, which destroyed the kingdom’s reign. Taskin the Great in 1768 ended up reestablishing Thai control before being toppled by General Chao Phraya Chakri who founded a dynasty that made Bangkok the capital. In 1782, King Rama I began a dynasty of a country called Siam, which is still in power today. In 1932, a parliamentary government was established after many years of British influence during World War I. Since World War I, the country has developed greatly as a country and is known as one of the longest standing monarchies in the world. Modern day Bangkok is filled with unique architecture, as well as many mosques, churches, temples, and a synagogue. In addition, the city is known for its fantastic Thai, and international cuisine, hospitable locals, diverse entertainment options, and unique mix of cosmopolitanism, and tradition.
Important Reasons to Consider Investing in Real Estate in Bangkok, Thailand
Increasing English Level
Asia has experienced a boom in teaching English to the younger generations in order to make them competitive in the business world and accessible to tourists. The rise of the middle class is also occurring, which has increased the desire and necessity to learn English to be competitive for employment opportunities. In Thailand, there have been many international schools established to assist with English language instruction. As a result, many individuals that are in the millennial generation have a high level of fluency in English, which enables more multinational companies to establish commerce successfully with local employees in the country.
Large Presence of Multinational Companies
The large presence of multinational companies creates opportunities for foreign managers and teachers to need housing within the country, which creates a strong rental market. In addition, the increased wealth of Thai citizens is opening up a new class of buyers and renters within Bangkok that makes investing in property worthwhile for prospective real estate investors. As Thailand’s economy continues to expand, there will be an increased presence of multinational companies.
Strong Tourism Industry
Thailand is the land of many treasures. There are sensational unique architectural structures that are in fantastic condition all over the country. In Bangkok, the Royal Palace is one of the most incredibly preserved sites to visit in all of Asia. The historical artifacts in Bangkok are also a great draw for tourists to experience before they jet off to the famous beaches that are located along the coastlines of Thailand. The great climate creates a strong environment for relaxation and leisure. Since Thailand also has incredible cuisine, the combination is a great draw for tourists all over the globe. Thailand’s tourism continues to expand as the English level improves and more global tourists have a strong awareness of what Thailand has to offer.
Foreign Ownership of Condominiums Permitted
Previously, it was very difficult for potential real estate investors to understand Thai law related to property ownership. Since the land was technically considered a separate purchase from the dwelling sitting on the land, it was almost impossible for foreigners to own property unless they were married to a Thai citizen. Recently, the government decided to attract more foreign investors by enabling foreign investors to own condominiums so long as more than 49% of the residents in the condominium were foreign owners. This threshold is rarely surpassed, which makes it possible for foreign citizens to own condominiums in Thailand and rent them out to tourists as a business or to enjoy them as a vacation dwelling for themselves.
Final Remarks
In the years to come, it is highly likely that Thailand will continue to reduce its barriers to foreign direct ownership of land. As the economy continues to improve in Thailand, there are many opportunities to invest in land while it is more affordable and make a return from renters and the likelihood of surging property values in the long-term. Aside from the potential real estate returns in Thailand, it is also an attractive locale to spend time in for both investors and tourists alike. Thailand offers so many wonderful heritage sites and relaxing beaches, which make it a fantastic place to spend a holiday while still learning about history and culture as well. It will be fascinating to see how Thailand’s economy continues to expand in the coming years and how that expansion will further drive opportunities in real estate for prospective real estate investors.
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Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
Thailand has a fascinating history and culture that captures the imagination of tourists, and investors alike. Thailand also has incredible scenery that attracts many tourists each year to experience Thailand’s unique scenery and gastronomy. Thailand has advantages in that it is one of the few countries in Southeast Asia that has not been negatively impacted by a substantial war conflict in the past century. For this reason, Thailand is economically ahead of other many countries in its region. Thailand has recently become quite attractive to global real estate investors since the economy has seen great progress in recent years. Bangkok, the capital of Thailand, continues to surge in growth due to the prosperous economy and unique culture. If you are considering investing in real estate in Thailand, then it is wise to review the information discussed below:
A Brief History of Thailand
Thailand has a diverse history that contributes to its rich culture today. Thailand has roots related to Dvaravati Kingdom between the 7th to 10th century. After the 10th century, Southern Thailand began to be controlled by the Khmer neighboring empire that is now modern-day Cambodia. The people that are considered Thai today began to move South into the area influenced by the Khmers, which is why many elements of the cultures are similar today. Between 1238 – 1448 the Sukhothai kingdom expanded their rule further South, which spanned the majority of modern-day Thailand before they were conquered by the kingdom in Ayutthaya that is a famous historic site to visit today. In the years spanning from 1350 – 1767 Ayutthaya ended up expanding their territory to include Laos, Burma, and modern-day Cambodia. In 1767, Burmese forces sacked the capital in Ayutthaya, which destroyed the kingdom’s reign. Taskin the Great in 1768 ended up reestablishing Thai control before being toppled by General Chao Phraya Chakri who founded a dynasty that made Bangkok the capital. In 1782, King Rama I began a dynasty of a country called Siam, which is still in power today. In 1932, a parliamentary government was established after many years of British influence during World War I. Since World War I, the country has developed greatly as a country and is known as one of the longest standing monarchies in the world. Modern day Bangkok is filled with unique architecture, as well as many mosques, churches, temples, and a synagogue. In addition, the city is known for its fantastic Thai, and international cuisine, hospitable locals, diverse entertainment options, and unique mix of cosmopolitanism, and tradition.
Important Reasons to Consider Investing in Real Estate in Bangkok, Thailand
Increasing English Level
Asia has experienced a boom in teaching English to the younger generations in order to make them competitive in the business world and accessible to tourists. The rise of the middle class is also occurring, which has increased the desire and necessity to learn English to be competitive for employment opportunities. In Thailand, there have been many international schools established to assist with English language instruction. As a result, many individuals that are in the millennial generation have a high level of fluency in English, which enables more multinational companies to establish commerce successfully with local employees in the country.
Large Presence of Multinational Companies
The large presence of multinational companies creates opportunities for foreign managers and teachers to need housing within the country, which creates a strong rental market. In addition, the increased wealth of Thai citizens is opening up a new class of buyers and renters within Bangkok that makes investing in property worthwhile for prospective real estate investors. As Thailand’s economy continues to expand, there will be an increased presence of multinational companies.
Strong Tourism Industry
Thailand is the land of many treasures. There are sensational unique architectural structures that are in fantastic condition all over the country. In Bangkok, the Royal Palace is one of the most incredibly preserved sites to visit in all of Asia. The historical artifacts in Bangkok are also a great draw for tourists to experience before they jet off to the famous beaches that are located along the coastlines of Thailand. The great climate creates a strong environment for relaxation and leisure. Since Thailand also has incredible cuisine, the combination is a great draw for tourists all over the globe. Thailand’s tourism continues to expand as the English level improves and more global tourists have a strong awareness of what Thailand has to offer.
Foreign Ownership of Condominiums Permitted
Previously, it was very difficult for potential real estate investors to understand Thai law related to property ownership. Since the land was technically considered a separate purchase from the dwelling sitting on the land, it was almost impossible for foreigners to own property unless they were married to a Thai citizen. Recently, the government decided to attract more foreign investors by enabling foreign investors to own condominiums so long as more than 49% of the residents in the condominium were foreign owners. This threshold is rarely surpassed, which makes it possible for foreign citizens to own condominiums in Thailand and rent them out to tourists as a business or to enjoy them as a vacation dwelling for themselves.
Final Remarks
In the years to come, it is highly likely that Thailand will continue to reduce its barriers to foreign direct ownership of land. As the economy continues to improve in Thailand, there are many opportunities to invest in land while it is more affordable and make a return from renters and the likelihood of surging property values in the long-term. Aside from the potential real estate returns in Thailand, it is also an attractive locale to spend time in for both investors and tourists alike. Thailand offers so many wonderful heritage sites and relaxing beaches, which make it a fantastic place to spend a holiday while still learning about history and culture as well. It will be fascinating to see how Thailand’s economy continues to expand in the coming years and how that expansion will further drive opportunities in real estate for prospective real estate investors.
--
Jacquelyn Annete Garcia Vadnais is an Investment Consultant and field expert blogger for Barracuda Consulting.
Jacquelyn has a JD/ MBA from Suffolk University, an LL.M in International Law from the University of Miami, and a B.A. from the George Washington University in International Affairs with a Concentration in International Politics. Jacquelyn speaks English, Spanish, French, and Portuguese and has lived in ten countries. Jacquelyn has done work for firms such as Boston Consulting Group and has worked with firms based in over ten countries in the fields of Real Estate, International Law, Expat Living, International Business, Forex Trading, and Travel. She has also volunteered her time and expertise at the Victims Rights Law Center based in Boston, MA.
Please leave your comments below. If you would like to subscribe to our newsletter, click here: https://tinyletter.com/barracuda-consulting. To purchase a full real estate report, or to access a complete suite of investment advisory services please contact us: https://www.barracuda-consulting.net/contact.
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