Buying Thai Property | Investments

Buying Thai Property

Written by Barry King

Wednesday, 13 April 2011 15:05

by BarryKing

Thinking of purchasing a place in Thailand? New arrivals favor two locations in particular. Bangkok is the destination for those in Thailand seeking life experience, or who have relocated for career reasons. Phuket is the place to go for adventure-loving retirees; its relaxing beaches and easy-going lifestyle is the perfect tonic for expatriates. Bangkok and Phuket's homes are something to see, so let's take a look.

Living Options In The City of Bangkok - The city of Bangkok is very big with more than eight million people. It is about the same size as New York City. If you are looking to do business in the city, you will want to reside in high style condos or a high rise apartment. The closer the property is to the center of town the higher the price will be. If you don't want to reside in a condo or apartment, it will take time to find a single family house because there aren't that many of them.

Homes in Phuket - The crown jewel of Thailand's tourism and resort industry is the island of Phuket. Phuket, which gained worldwide notice when the Tsunami of 2004 struck, was a very popular tourist destination, especially for Europeans, before the tsunami. More than four years later, Phuket is still recovering, but a great deal of progress has been made in restoring the area since the tsunami. In fact, the turquoise blue water of Phuket's beaches is the clearest it has been in twenty years.

Compared to other tourist destinations in Thailand, such as Samui, Phuket has a better infrastructure: it has better roads than Samui, better places to live, and a higher standard of living overall. While Phuket is the wealthiest province in Thailand, the cost of living is still relatively small for westerners considering moving to the area. What's more, for English-speaking children, Phuket has several international schools, which follow British and/or American curriculums.

As is the case with Bangkok, there is a vast selection of houses for sale in Phuket with considerable variance in style. There is everything from town homes to higher end apartments and the homes of Phuket often look like they are made to accomodate the western view of what is luxury.

Be careful when looking to purchase a home in Thailand. According to Thai law, foreigners may not own land. However, foreign nationals may own a unit in a condominium, a building (but not the land), and foreigners may also be a long-term leaseholder for all types of land and buildings, holding leases for up to 30 years at a time. All things considered, with a trustworthy real estate agent and doing one's homework, buying a home in Thailand can be a very rewarding experience.

DISCLAIMER: This article is provided as information only and is not to be taken as financial advice.

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