If you are new to the property investment game, the prospect of buying a property that hasn’t even been built yet is likely alien to you. That said, it is something that is highly popular among developers in Thailand. But why are developers selling pre-built properties in Thailand, and how can investing in such a scheme be of benefit to you?
In this article, we’ll tell you everything you need to know…
1. It’s a buyer’s market
Potential buyers in Thailand are absolutely spoiled for choice when it comes to property. There are so many finished units sat, waiting to be sold – which can be a nightmare for new developers.
One such way of getting around this competition is by offering advantages when selling pre-built properties to prospective buyers (which we will cover shortly). This makes their property all the more attractive to investors and in many cases, the most reputable developers will have 80% or more of their properties sold before construction has even finished!
2. It’s all about selling the dream lifestyle
Thailand is a wonderful country and is beloved by many people from all over the world. This is why some 4 to 5 million expats have decided to make Thailand their permanent home.
The fact is, Thailand simply has so much to offer everyone. From young professionals and bachelors, to growing families and retirees, the quality of life that Thailand provides is arguably unrivalled by many countries.
Property developers capitalise on this when they sell pre-build real estate. It’s all about selling that dream lifestyle which many people crave and the market for it is huge!
These growing developments will have stunning concepts of what the finished product is going to look like. When you can imagine living in a luxury development with lavish swimming pools, lush forest areas, and balconies with sweeping views over the ocean or Bangkok skyline, it’s practically impossible to resist!
But, it’s not just the lifestyle that developers are trying to sell, but the convenience!
You see, unless you are a native Thai person, you cannot own land outright in Thailand. However, you can purchase and own a condo of your own – which is a very attractive prospect indeed.
3. Pre-build projects are attractive to investors
Pre-build condos are especially attractive to foreign investors who are looking to purchase condos at a cheaper rate with the prospect of flipping them in the future once the development is completed and properly established.
4. You can save money when buying presale
- Pre-build condos are typically available at a far cheaper price.
- A down payment of 20-30% is all that is required (with the remaining 70-80% being paid upon completion.
This method of buying property in Thailand can allow you to get onto the property ladder, even if you don’t quite have the full amount yet. While this can certainly be a risk (because if you don’t make the final instalment payments in time you are likely to lose your down payment), however, if you are certain that you will have the funds in time, you can put your order in early and save yourself some money in the long-run.
5. Unit customisation options
Rather than trying to search for your dream condo, why not have your own personalised to match your taste and requirements?
When you buy pre-build, you are investing in a property that hasn’t been built yet. And the best part is that most reputable developers will give investors the option to customise their unit accordingly.
In other words, you won’t have to worry about walking into a prospective condo and thinking “this would be perfect if…” – instead, you can ensure that when you do eventually move into your pre-build, it will be exactly as you want it.
6. Low maintenance
When buying resale properties, there’s always a good chance that you’ll run into some structural issues down the line. Or perhaps you may need to replace and upgrade the utilities within a few years of moving in. However, when you buy a pre-build, you won’t have to worry about maintenance or wear and tear for many years! Instead, you get to enjoy the benefits of living in a fresh and untouched space!
Conclusion
As you can see, selling pre-built properties is a process that can benefit both developers and the buyer. If you are keen to explore some of the pre-build opportunities in Thailand, we recommend working with a professional real estate agent. They will help you separate the wheat from the chaff and identify the best possible pre-build properties to suit your budgetary requirements.
