Thailand known as the Land of Smiles is one of the top tourist destinations in South East Asia. In 2018, a record of 38.27 million tourists visited Thailand and it is expected to increase to 41 million in 2019. The country’s real estate market is attracting more and more investors every year. Here are just a few of the reasons why Thailand is a good place to invest in property:
1. Regional Business Hub
Located in the heart of Southeast Asia, Thailand has been a business hub for centuries due to its strategic and accessible position within Southeast Asia. Many businesses that are based here take advantage of the more affordable overhead costs as compared to the region’s powerhouses of Hong Kong and Singapore.
2. Strong Economic Growth
Based on the economic report by Deloitte Thailand, the residential market in Thailand dramatically expanded in 2018 especially for a residential condominium which had aggressive growth of 42%. Moreover, the Thai Baht was one of the best-performing currencies in 2018 in Southeast Asia.
3. Tourist Numbers
Thailand saw a record of 38.27 million tourists in 2018, up 7.5% from 2017. Based on the Tourism Ministry of Thailand, Arrivals are projected to climb about 8% from last year’s 38.3 million and for 2019, the ministry expects 41.1 million tourists to spend 2.21 trillion baht.
4. Healthy Rental Returns
With a wide range of career and business opportunities in Central Bangkok, this has attracted both Thais from other provinces and expats from all around the world to move to Bangkok to further their careers. This in turn creates an ever booming rental market for residential developments. On average, investors can expect rental yields of around a solid 4-6%.
5. Affordability
Residential developments are still relatively affordable in Thailand as compared to other Southeast Asia’s countries such as Singapore and Hong Kong. In Central Bangkok, prices in attractive neighborhoods start from as low as USD159,000.
6. Healthcare in Thailand
Thailand’s healthcare has been ranked 6th in the world by US magazine CEOWORLD. Thailand is also among the few Asian countries to have made the top 10 list in 2019 and is considered a center of medical excellence which offers a superior standard of care and most importantly English-speaking staff. The cost of healthcare is also relatively cheaper in Thailand as compared to other western countries.
7. Lifestyle
Bangkok is a vibrant city with different neighborhoods offering hugely varied lifestyle choices. One can find Instagram worthy cafes to Michelin star restaurants. Shopping malls can also be found at almost every BTS station making shopping a lifestyle and not an option.
Thailand itself is unique in its own way and also offers a high quality of living and that is the reason why many people choose Thailand as one of the must visit travel destination in Southeast Asia.
