A wise investment always looks forward to what and how much it can give back. For instance, Phuket Investment Properties is a very wise idea since the tourism in that island is growing fast. With the increasing number of holiday tourists who prefer renting private villas instead of staying in hotels, Phuket Investment Properties can be a good source of income as investors can rent them out to guests who keep on filling the place all year round.
Here are some factors to consider in seizing the profitable property investment in Thailand.
Thailand is blessed with beautiful beaches. Having Bangkok as its capital, it is complete with modern and first class infrastructures like hospitals, schools, and malls. Moreover, the local and international cuisines as well as the superb golf courses are great attractions in the country. For this reason, many families and retirees choose to settle there – and some of them discovered the place as tourists who fell in-love with it.
Investment in the island is also increasing. For the past several years, Phuket has become a favorite destination for tourists from different parts of the world. This is the reason why Phuket investment properties became a popular choice for investment such as retirement villas, homes, and land. Some of these properties have been turned into resorts, cottages, and villas for rent and their owners are really earning great returns.
Know the laws on investment
Investors who want to acquire Thai properties should first know about the laws and regulations regarding the investment process in the country. Since 2006, the rules in property investment in Thailand became stricter and this actually resulted in a slowdown of the industry. According to their legislation, only Thai nationals can buy and own a land. Foreign investors are only allowed up to 49% ownership of the legal structure for property developments. This means that foreigners can only invest in a portion of the property, but only Thais can buy the land.
Check for conflicts
Before investors haste into the purchasing properties, they should first require their lawyers, developers, or contractors to check on any existing conflict of interest. There might be unregistered sale or mortgages over the property. They should not allow the seller to decide on their legal representations, but just recommendations, to avoid any anomalies in the future.
Prepare the budget
When preparing the budget for the purchase, the legal fees and taxes must be included already. In investing in a property, no matter where it is, there will always be a great sum of money involved for the legal process. Since the Thai government has strict regulations on property investment, investors or buyers should never attempt to shortcut the process just to save money.
Thus although the regulations for acquiring a property in Thailand is not that easy, Phuket investment properties is still a good decision especially if it will be a commercial place. Surely, investors can continuously earn much from this because of the increasing number of tourists who visit the island. This means that no matter how much they have spent for the acquisition of the property, they can eventually get that back in just a matter of time.