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29.02.2024

Life in Thailand — your own TV series

The content of the article:

  1. The history of tourism development in Thailand
  2. Phuket and Koh Samui: advantages 
  3. Villa or apartment — we make a choice
  4. “A healthy economy” Thailand: Tax system for investors 

 

Increasingly, there is a tendency in social networks to share their impressions of traveling to a particular country. And very often Thailand began to flash in video reviews. Needless to say, today it is one of the most popular places for various holidays. After all, Thailand is famous not only for its beaches, but also for its interesting mountainous terrain. There are also those who follow this country through the now popular TV series, in Thai - lakorny. So we wanted to show you interesting moments from the life of the “land of smiles” so that you would feel like the hero of that very lacorn.


For many, Thailand is a tourist country. But in fact, some 50 years ago, Thais did not even think about such an influx of tourists, and even more so, about those who want to buy something here. For example, Phuket was then famous for the extraction of tin and rubber. Koh Samui was completely cut off from the mainland, and therefore the inhabitants of the island were almost only fishermen. The latter generally had the hardest time developing its infrastructure. Therefore, in the late 60s of the last century, the head of the local administration asked for help from the Kingdom. And already in the early 70s, the first tourists arrived on the island, who were attracted by this corner of the Gulf of Thailand. It can be said that this is where the development of tourism on the island began. 


Today, Phuket and Koh Samui are perhaps the most sought-after places for relaxation and vivid impressions. Let's talk about the advantages of each.  The first thing to note is that the weather on the islands is completely different in different months. In Phuket, the rains begin in May and last until October. But on Koh Samui, the rainy season lasts only a couple of months. The rains themselves are not terrible, they are warm, but swimming in the sea is risky, because the undercurrents are increasing.


The second difference is the infrastructure on the islands. Of course, Phuket is significantly ahead of Koh Samui in this regard. Phuket has yacht clubs, golf courses, tennis courts, international schools, and hospitals — all at a fairly high level. Koh Samui is still developing, but the Government is very sensitive to this island, so it supports and helps in every possible way in development.


Initially, foreigners bought real estate in Phuket mainly for their own residence or vacation holidays. But now many people buy real estate in Thailand and for the purpose of generating income. And it is really profitable, because real estate prices are constantly rising. Moreover, on Koh Samui these are mainly villas (due to the mountainous terrain, the height of buildings should not exceed 12 m).  In Phuket, you can buy both a studio apartment (from $ 80,000) and a private villa (from $ 250,000 to $ 10 million). Large investors prefer to invest not in one expensive property, but in several apartments managed by hotels. They bring them about 5-10% of the rental income.

Based on this, customers are faced with a choice: a villa or an apartment? In our opinion, both are excellent solutions. For example, after the pandemic, all ready-made villas in Phuket were sold out quickly enough. And at the same time, it is even more profitable to buy unfinished objects, since the price for them is 20-30% cheaper. It is very often practiced in Thailand that hotels manage complexes with apartments or villas and then sell them to investors. Before entering into an agreement, the hotels conduct a thorough check: ownership of the land, documentation and reputation of the developer. Severe fines are imposed for any violations. 
Let's add that there is a special type of luxury real estate in the country also managed by hotels. These are luxury residences in which you can comfortably live like in a five-star hotel, but at the same time the owner can rent the property to the hotel and receive a stable income. 


The year 2023 was a breakthrough year for the Thai economy. Thais were friendly to the flow of Russian tourists and emigrants, which in turn increased real estate sales in the country. The country's economy can be called “healthy”, since the inflation rate is low and does not affect the growth of prices of goods and services. And when buying real estate in the country, the law applies as in many European countries: freehold (freehold) and leasehold (long-term lease). By the way, we have already written about such forms of ownership recently (link to the article about Bali)
Investors tend to opt for a long-term lease. The contract is concluded for at least 30 years and then extended several times. In total, this will last up to 90 years, and great-great-grandchildren will also get it. It is also convenient that the contract can be reissued for members of your family, indicating the new lease term.


When buying a property, you will need to pay the tax. The percentage is considered by the Land Department, since the type of real estate is taken into account: rent-ownership; you are an individual or a legal entity, the year of construction and the number of years of previous lease. After that, these taxes are divided between the buyer and the seller. 

Thailand is already difficult, and in principle it is not necessary, to call a third world country. This is a country of great opportunities. And in order for your transaction to be successful, we advise you to contact our specialists, who will assist you in choosing a property and give valuable investment recommendations. Current objects for investment in Thailand can be viewed here.

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