When it comes to investing in real estate in Thailand, or any country for that matter, there is much that you need to know before taking the proverbial plunge.
It’s easy for luxury property developers and real estate agents to boast about the many benefits of investing in property in Thailand (of which there are many, admittedly), however, that doesn’t change the fact that in order to do so with confidence, you need as much information as possible.
In this article, we’re going to talk about how to invest in real estate in Thailand. However, this is going to be more of a generic checklist of things you need to know prior to investing, which can be applied to investing in any foreign country. 
Investing in real estate (what you need to know)
1 – Do your own research
When investing in real estate in Thailand, you really need to do your own research (and plenty of it). Certainly, you should seek legal advice, or team up with a reputable property investment company with their own legal team, however, before reaching out it pays to have a relatively good understanding of the market.
The main reason for this is so that when you do connect with a real estate company, you will be able to spot any red flags immediately. For example, if you have done your research and have a pretty good understanding of the “DO NOT’s”, then if a real estate company makes a suggestion that you’ve been told by countless reputable sources to avoid, you can call them up on it and/or seek a second opinion.
Of course, this can be seen as being almost too careful, but is there really such a thing when parting with such large amounts of cash?
Not every real estate company is out to get you! In fact, in this internet age where reputation is so important, you can rest assured that most reputable companies will indeed have your best interests at heart. However, it always pays to be prepared, having done plenty of research in the first place.
Here’s an example of things to checkout beforehand:
- Check out the country’s current economic situation (and pay close attention to its progress prior to the COVID-19 pandemic)
- Look at the value of foreign direct investments
- Research potential investor immigration programs (particularly if you’d like to move to Thailand long-term)
Be thorough! Don’t risk your money on one “hot tips” article. There is a wealth of reliable information out there, you just have to sift through the rubbish first.
2 – Save then invest (if you are investing to live in Thailand or another foreign country)
OK, so this may well be irrelevant to those of you who already have a substantial sum of money and are ready to invest. However, for those of you who might be making a property investment for the first time, then this section can be very helpful.
If you are living abroad, or plan to move abroad, then your job is going to need to bring in enough money for you to both spend and save! You should divide your income into the following three categories:
- Spend
- Save
- Invest
Naturally, however much money you spend month-by-month will depend on your personal lifestyle. That said, you need to analyze your patterns and figure out a weekly and monthly budget. It can be tricky sticking to a budget, but before you put all your eggs in one basket and invest in a property in a foreign country like Thailand, it will be helpful to know that you can sustain yourself.
Ask questions like:
- What are my current expenses?
- How many of these expenses are fixed?
- Can any of these expenses be eliminated (i.e., cutting down on drinking / quitting smoking)
- How many of these expenses are variable?
When you better understand this, you’ll know how much you can set aside and how much you can comfortably invest.
Certainly, the cost of living in Thailand is comparatively low to more developed western countries such as the UK and US. However, it still pays to have a thorough understanding of what life will be like when living in Thailand, after investing a substantial sum into a property.
3 – Understand the risks involved
Investing your money in property, compared to things like the stock market, has always been the safest option. However, it’s not without its risks. As such, before investing in property in Thailand, you should take the time to learn and understand the risks involved.
- How much money will you stand to lose if you make a bad investment?
- What is the legality of investing in property in Thailand? (Can you own land? Can you own your property outright?)
- Brush up on taxation laws and compliance
4 - Speak with a reputable, expat friendly real estate and property investment company
Once you are familiar with the laws in Thailand, particularly for foreigners investing in real estate, you can reach out and speak with a reputable expat friendly real estate and property investment company.
If you find the right one, preferably with a legal team of their own, you can save yourself some money and get some industry-expert advice on the best opportunities in Thailand at the moment.
There are many, many real estate companies in Thailand, so finding the perfect one for you, with a wealth of quality luxury property investment opportunities might take some digging. In any case, when you find the right one, it can make the whole process not only significantly easier, but much more comfortable for you.
Conclusion
When investing in real in Thailand, make sure you thoroughly understand the following:
- Why are you investing in Thailand? / What are the benefits?
- Are foreigners able to buy Thai property?
- Is it safe investing in Thailand’s off-plan condominiums?
- What is the cost of Thailand’s property tax?
- Is buying Thailand property safe?
- What are the best places to invest in Thailand’s real estate market? (e.g., Bangkok, Chiang Mai, Pattaya, Phuket, Hua Hin, and Koh Samui)
- Is it worth using a real estate agent when buying Thailand property?
- Are there any notable Thailand property investment visas?
Once you tick all of these boxes and have a relatively good understanding, coupled with the proper legal advice, you should be fine!
Read more relative content from Lazudi’s blog:
1.‘What Are The Benefits Of Real Estate Investing In Thailand’
