Welcome to BuyAssociation.co.uk

Buying a Property in Thailand

Investment potential

While tourism in Thailand has tended to remain strong despite natural disasters and terrorist attacks, the economic growth that has accompanied the growth of the overseas property market appears to have stalled significantly. Tough trading conditions combined with political and social unrest have seriously dented the progress made in recent years, and a solution needs to be found soon in order to prevent a severe backward step for Thailand.

Prices rose to bring them close to the levels of more established destinations, but the possibility of being able to rent your property out is still good thanks to the tourism trade. Buyers who bought early and are renting their property out are still seeing rental returns of up to seven per cent a year in parts of the country.

Health and education

Thailand has become somewhat of a “medi-tourism” destination, with many westerners travelling to the country for cheaper healthcare, ranging from dentistry to plastic surgery. Despite this low cost of treatment, it is advised that anyone travelling to Thailand takes out comprehensive health insurance. This will provide you with a greater choice of healthcare, with English being more widely spoken in private hospitals. It is also recommended that you are vaccinated for Polio, Typhoid, Tetanus and Hepatitis A before you enter the country.

It is compulsory for Thai children to attend six years of education, from the ages of six to twelve – although the government is currently discussing raising this to nine years. Almost ninety per cent of primary school children attend either public schools or those run by Buddhist monasteries. Attendance at secondary schools drops to just over fifty per cent however, so it may be worth considering sending your child to either a private or an international school.

Transport

In Bangkok “tuk-tuks” are a major form of public transport, offering a cheap and quick alternative to metered taxis. Also in the capital, the Skytrain is a good option if you are hoping to beat the horrendous traffic, as is the Metro and the Chao Phraya Express Boat. It’s not advisable to attempt to drive in Bangkok, due to the previously mentioned traffic problems and poor sign posting.

Thai motorways now reach every corner of the country, and bus seems to be the most popular form of long-distance travel. Once at a beach destination, it is much easier to navigate the roads yourself, and many people opt to hire a motorbike or scooter in order to get around the islands. Be warned, however, that many rental agencies don’t provide any insurance, and so if any damage is caused to your motorbike you will be liable for the full cost of repairs. A 500 baht (£7) fine will be applied if you are caught without a helmet.

And finally…

Thailand has plenty to offer the overseas buyer, but there are some factors to contemplate before you take the property plunge. The tsunami of 2004 caused a lot of damage, and while the resilient Thais bounced quickly back, there is always the risk of another natural disaster.

Currently however, perhaps the biggest concern for potential property buyers is the political situation following the peaceful coup d’etat that took place late in 2006. Although not a shot was fired in anger during the overthrow of the Shinawatra regime, the political situation remains tense, with sporadic attacks on politicians and almost daily incidents in the southern provinces. This underlines the fact that Thailand is still not what we would consider a stable democracy. As with any investment in an emerging market anywhere in the world, it is essential to have some form of exit strategy in place should you need it in the future.

View our full range of information about property in Thailand

Register and access a wider range of articles, guides and podcasts. Plus get impartial advice about buying property in Thailand and many other countries, from our experts.

More pages

Page 1: Why Thailand?
Page 2: Finance
Page 3: Investment potential

www.holidaylettings.co.uk online advertising for home owners abroad

Find your perfect holiday home - over 250,000 homes worldwide to chose from

Holiday home insurance with Staysure - the over 50's experts

Calculate how much you can earn - rent out your holiday home here