Thailand, Vietnam, the Philippines, and Indonesia were among the top ten improved countries in regard to real estate transparency. Singapore was the region’s best-performing country when it came to transparency and finished 15^thglobally. Malaysia was the only other Southeast Asian country to make the Global Real Estate Transparency Index 2020’s top 30.

A total of 99 countries and territories around the world are ranked in the report. The final real estate transparency score is based on six factors: investment performance; market fundamentals; listed vehicles; regulatory and legal indices; transaction processes; and sustainability. This was the 11^th edition of the report.

Vietnam continues to improve

The Vietnam property market continues to improve, and this was highlighted by the fact the country rose five places in the JLL report. As a result of the jump, Vietnam is now classified as “Semi-Transparent”. This is an important step for the country as more international investors looking to enter the property market.

“Vietnam has made further progress on the regulatory front with government bodies tightening their oversight to ensure rules and regulations are being adhered to in areas such as land-use planning and lending standards. The country’s strong economic prospects have drawn significant interest from both occupiers and investors, and this has led to increased competition and service offerings from property management companies,” the report found.

The performance of Ho Chi Minh City, in particular, was cited as a key driver of real estate transparency in the country.

Thailand becomes transparent

Thailand made further progress and was placed in the “Transparent’ tier by JLL for the first time. According to the Global Real Estate Transparency Index 2020, greater regulatory enforcement of lending standards and requirements for more frequent property valuations in the Kingdom along with improved accounting standards were catalysts for improvement.

“Moderate gains in Thailand have in part been driven by changes on the regulatory front, and this has led to it advancing into the lower reaches of the ‘Transparent’ tier alongside Mainland China’s leading cities. The national accounting body has adopted new measures to move Thailand’s GAAP more in line with international standards, while regulators have tightened up on some lending standards including requiring greater frequency of appraisals. In Bangkok, a new land-use plan is scheduled to be launched in 2020 after significant public consultation, and this has helped to improve the predictability of the changes to come,” the report explained.

The country is now ranked as the world’s 33^rd most transparent real estate market and recorded the fifth highest improvement during the past two years.

Sustainability focus moves the Philippines forward

While the Philippines still trails both Thailand and Indonesia in real estate transparency, the country continues to become more transparent. Many developers have made strides in sustainability and these efforts were one of the reasons the country improved in the latest rankings.

“Sustainability has been a key contributor to gains achieved in the Philippines as developers put a renewed focus on this area. The number of green-certified buildings has been on the rise and the first non-bank issuance of a green bond took place early in 2020 by a local developer. Steps to digitize the land registry are also a positive stride, leading to better quality records and easier access,” the report points out.

Elsewhere in Asia

The Global Real Estate Transparency Index 2020 highlighted Indonesia as another country that made solid strides over the past two years. Meanwhile, Myanmar was the lowest ranked country in the region and 72^nd globally.

Japan and Hong Kong scored highly once again and both countries are firmly entrenched in the “transparent” tier. The report added, “the improvements have been small, with the biggest advances recorded on the sustainability front as governments and industry players have placed a greater emphasis on health and well-being.”

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JLL’s study monitored international grade hotels and serviced apartments across Bangkok from January to April 2020. Findings show that over 80% of the city’s serviced apartments remained open at the end of April, with the average occupancy rates declining 30% year-on-year. During the same period, the majority of hotels across the city were shut down and those that remained open saw occupancies drop by nearly 50% year on year, many into single digits.

“Whilst the ongoing tourism market slump has forced the majority of hotels across Thailand to close their doors in order to lower their fixed costs, most of the Bangkok’s serviced apartments have remained open to serve long-stay guests,” according to Pimpanga Yomchinda, Vice President, Investment Sales Asia, JLL Hotels and Hospitality Group.

“Tourists or short-stay guests represent a smaller demand source in Bangkok’s serviced apartment sector. Though we have seen serviced apartments shifting their guest acquisition strategies by increasing the portion of short-stay guests in recent years, long-stay guests, most of whom are expatriates, have remained their top source of demand. This explains why the serviced apartment sector has felt relatively smaller impact from Covid-19 than hotels that rely more on short-stay demand from tourists.”

JLL’s study indicates that historically, the average distribution between short- and long-stay guests in serviced apartments has been 25/75 with a gradual shift in recent years to 40/60. The majority of hotels don’t have long-stay guests. While most traditional hotels don’t target long-stay guests, there has been a recent trend in hotels expanding into the extended-stay market, notably Bangkok Marriott Hotel the Surawong and the upcoming Novotel Living Bangkok Sukhumvit 34.

Alex Sigeda, Vice President, Strategic Advisory & Asset Management, says “With core demand from long-stay customer base, serviced apartments have proven more resilient than other hospitality segments in times of crisis. A similar pattern was witnessed during past events that had major effects on Thailand’s tourism industry, such as the Great Flood in 2011, political unrest in 2013-2014 and the Thai baht appreciation in 2019.”

Whilst the Covid-19 outbreak crisis has led to many new normals in the hospitality industry, JLL expects the pandemic to also accelerate the emergence of a hybrid accommodation development format that combines hotel and serviced apartments.

“As investment asset classes, serviced apartments and hotels have their respective advantages and disadvantages. The former generally offers a more efficient and stable operation that keeps the operator relatively safe in a down market. The latter generally offers more yielding opportunities during periods of high demand, given a more flexible inventory without long-stay offerings,” according to Sigeda.

To help bridge the gap between these two models, regional and global operators have been introducing a number of hybrid options into their brand stables, focusing on short-stay demand, while still reserving a portion of their room inventory for the long-stay segment, according to Pimpanga.

“We expect this trend to grow further as operators have realized complementary advantages of the two accommodation types. Among the recent examples in Bangkok are Staybridge Suites Thonglor by IHG and the upcoming Lyf Sukhumvit 8 by Ascott.”

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How Thais perceives the property market is key to its success. Confidence buoys demand to instigate spending and increase transaction numbers. The property market is driven by supply and demand, and achieving the right balance makes the difference between a buoyant and lacklustre market.

Real estate agents work on commission so just like any other salesperson, part of their job is to talk up the market to increase sales and take-up rates. However, Thailand Housing Market’s Thailand Consumer Sentiment Study, revealed that across all age groups, the perception of property agents and developers is the least important factor when considering a property purchase. Therefore to gain the perspective of individuals paints a clear forecast of the property market to predict future trends and scenarios.

Of those interviewed for the report, more than 75 percent plan to buy property in Thailand with over half of these hoping to do so in the next two years. This alone suggests a certain level of confidence in the market. There remains however a real appetite for new properties with the majority of Thais setting their sights on this type of property suggesting that developers need to keep building.

Sustainability has become a buzz word as people are changing their habits to reflect more environmentally friendly living. This notion continues with looking for a new home as 81 percent of respondents stated that they would be prepared to pay more for a property that is an environmentally sustainable home, something that developers should take heed of to generate interest in their product and to even boost profits.

While foreign investors are often cited as driving Thailand’s market, Thais have said that they are in favour of restricting foreign ownership for local citizens to advantage. Foreigners are allowed to own condominiums but only up to 49 percent of the total saleable area of each building.

Typically Thailand welcomes investors from Japan, Singapore, Hong Kong, and China buying units to park their money while enjoying the capital appreciation it brings. However, should new legislation be introduced to restrict their numbers, it will naturally increase supply and inturn reduce property values.

Any such measures would need to be carefully thought out and introduced slowly to minimise the impact on the wider property market and the country’s economy.

In conclusion, Thais continue to see bricks and mortar as a wise investment asset. Their thirst for new properties will ensure take-up rates for newly launched projects will remain strong, however, at the same time, this will devalue resale properties and is a large mindset to be overcome in the future.

Finally, developers should consider including sustainable features when designing new projects to gain traction and to keep up with competitors.

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He says housing sales and transfers in northern Thailand slowed last year because of the US-China trade war. Many Chinese buyers were unable to get units transferred as moving funds from China to Thailand became more difficult.

“More than half of Chiang Mai’s GDP is from the tourism industry, which is stumbling. Many job seekers today are those who used to work in the hotel business.”

The president of the Phitsanulok Real Estate Association says his province will also see a market slowdown this year, due to lower purchasing power and weaker demand, in line with other markets across the country.

“As the virus spread in Thailand, some home buyers browsed housing projects online and decided to buy. Many of them were rejected for mortgages because banks have become more cautious than before the pandemic.”

A spokesman for the Real Estate Information Centre says the absorption rate of residential supply in Chiang Mai for all types of residences is facing a drop, from 2.5-4.2% per month in 2019 to 1.1-1.6% this year.

“Housing Developers should be more wary of launching new supply this year. Especially as market sentiment will be unfavourable due to the pandemic. Also a large volume of unsold housing developments remain.”

The REIC predicts that unsold homes in Chiang Mai will rise to at least 9,343 units by the end of the year; higher than the 5 year average of 8,694 and up from 9,149 units worth 35.42 billion baht as of the end of 2019.

Of the 2019 amount, 2,615 units worth 10.7 billion baht were completed and ready to transfer. The number of residential units being transferred in Chiang Mai this year is estimated at 12,156 units worth 23.14 billion baht, down 7.9% and 14.6% respectively from 2019.

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According to Colliers International Thailand, demand for Bangkok serviced apartments is strongest in the Central CBD and Sukhumvit areas of the city, although there has been little movement in terms of both occupancy and rent. Increases may be possible in the future, but competition from the condo market will limit the potential of this.

The report from Colliers International Thailand noted that there were 23,733 serviced apartment units in Bangkok at the end of the fourth quarter with another 5,834 units expected to be finished between now and 2022. Most of the developments are low-rise serviced apartments located along Sukhumvit Road.

The Bangkok serviced apartment market continues to record a strong occupancy rate with this figure hitting 85.97 percent in the fourth quarter of 2019. However, this figure has seen little growth in the past few years.

“Although the number of expatriates in Bangkok grew continuously every quarter, the average occupancy rate of serviced apartments in Bangkok did not dramatically increase over the past few years. We expect the average occupancy rate of serviced apartments in Bangkok in the first quarter of 2020 to be stable and remaining similar to the previous quarter,” the Colliers International Thailand reported.

Meanwhile, the proliferation of condo projects throughout the Thai capital has limited the rental potential of the Bangkok serviced apartment market. Rents have been fairly stagnant since 2017 with some potential renters opting for low-priced condo units.

“Serviced apartments have been intensely competitive with condominiums and luxury apartments during the past few years. Many foreigners moved from serviced apartments to condominiums in the same location, due to lower rents and similar facilities. Thus, not many new serviced apartments were added to the market in the past few years or will be in the future,” the report explained.

Experts are still uncertain as to how the segment will be affected by the COVID-19 pandemic. The Bangkok rental market has benefited in the short term, but a decline is expected in the mid-term. The same trend is possible in the serviced apartment market. 

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In Thailand, where 90% of real estate buyers are from China, Hong Kong and Singapore, the real estate market faces its biggest crisis yet. The real estate market contributes 6% of Thailand’s gross domestic product and is heavily linked to the tourism sector, which saw arrivals drop by 76.4%—with visitors from China down by 94%.

Thailand’s real estate market faced challenges before the pandemic

The Asia-Pacific real estate market saw a record US$14 billion in investment in 2019. In recent years, Thailand has closed the gap between it and Malaysia as the third biggest real estate market in Southeast Asia behind Singapore.

However, before the coronavirus put a stop to everything, the growth of Thailand’s real estate market was slowing—down from around 5-7% to 3-5%. Several factors contributed to the contraction. The Chinese yuan weakened against the Thai baht, and a global slowdown saw both China and Thailand’s economies take a hit.

The Bank of Thailand introduced new mortgage regulations as household debts rose, squeezing local purchasing power. This left the real estate market more reliant than ever on foreign investment. The move was unpopular within the industry. “Frankly, I want the Bank of Thailand to recall the measure,” said Thai Real Estate Association President Pornnarit Chuanchaisit.

The pandemic could drive real estate market changes

The pandemic hit Thai developers hard. They were already expecting worse returns in 2020 than in 2019 and were cutting costs as much as they could. With hundreds of thousands of unsold units to shift, they now fear the worst: 18 months of slow growth and difficult recovery.

When the economy gets moving, the market will favour buyers with property prices lower than before the pandemic. In the short term, any deals in the pipeline have been delayed or postponed. Developers are doing what they can. They are allowing investors more time to transfer funds in order to complete their purchases. They could also turn their attention to selling to the local market, given that foreign investors cannot yet enter the country.

There will be hard times ahead for real estate developers, but there is some cause for optimism. Now is the time for developers to innovate and improve on their existing offerings to tempt investors.

For example, some may take the opportunity to build in new features to their properties, such as better air filtration systems and property management. In this way, they can attempt to future-proof buildings against similar crises to come. By enhancing their offerings and giving discounts, developers should still be able to tempt Chinese investors to part with their yuan.

There are signs that buyers will return to Thailand

Thailand remains an attractive proposition for prospective buyers. Some experts forecast that its economy will pick up as early as late summer, or more conservatively by the fourth quarter. Others predict a surge in activity later this year, suggesting the market is resilient enough to rebound. Thailand’s real estate market is not hindered by high debt levels and there are reserves available.

Thailand’s economy and the real estate sector has a good track record of recovering from fiscal shocks, from global economic crashes to epidemics and the 2004 tsunami. As a result, economists labelled the country “Teflon Thailand”. While COVID-19 is unprecedented in its spread and impact, investors will have more confidence in regions that have proved their resilience before.

A more general trend shows Chinese buyers turning away from buying property in Europe and the US and seeking to invest closer to home. With its stable currency, good healthcare standards and excellent universities, Thailand’s real estate market is well-placed to benefit. Furthermore, it remains one of the leading destinations Chinese people choose when retiring abroad.

Analysts predict recovery and encourage investment

Prices will drop once business resumes. Thailand’s weakening currency presents an opportunity for foreign investors who will get more for their money than they would have done a year ago. Now is a good time to buy low and wait for prices to rise. If, as predicted, the economy picks up, they will be sitting pretty: Thai properties generate good yields and maintenance fees are very affordable.

And the Chinese are still interested. Even in July, when the market was beginning to contract, they were still keen to buy property in Thailand. “Chinese investors want to choose markets that are closer to home, require less capital and offer better yields,” explained Georg Chmiel, executive chairman of overseas property purchasing website Juwai.com. “The Asia Pacific region, and especially Southeast Asia, ticks all three boxes.”

COVID-19 forced the Thai real estate market to hit the pause button. By taking time now to innovate, create new selling points and embrace technology, developers can mitigate against the declining market. This may be more of a hard reboot, perhaps, rather than a pause—but it’s one that the market could have done with anyway. For real estate in Thailand, there are challenges ahead, but it stands every chance of bouncing back in the wake of COVID-19.

The post Can Thailand’s real estate market bounce back from COVID-19? first appeared on Housing Market Marketing by Housing Market Group.

The world as we know it doesn’t have a playbook handy for the pandemic, which is why policymaking around the globe has gone into overdrive, revealed the co-managing partner at BDO Thailand Paul Ashburn at the Asia Real Estate Reboot webinar last 30th of April.

To address the public health crisis and assist its citizens, local governments across affected countries have been approving stimulus packages for at least three times. As a result, Paul said that “it had a very abrupt impact in the space of a few months on the world economy as businesses closed down, people started working from home, authorities mandated travel restrictions, and so on.”

Since everyone is still uncertain about the impact of the pandemic on the world economy, most fear the coming of a deep global recession.

In response to this, Lloyd Lee, the managing partner at YOO Capital who was also a speaker at the Asia Real Estate Reboot, said that their investment firm has already noticed investors clutching on to safety nets.

“If you look throughout the inquiries that you’re getting in Asia, it would not surprise me to find out that Singapore is one of those markets that is probably getting more inquiries today than other markets, which are considered emerging,” he presumed.

According to him, investors these days are, unsurprisingly, looking for countries with fewer risks. “They are not looking for excessive returns, they are really looking to preserve capital, create yield and benefit and not feel like they’re taking undue risk in an uncertain market.”

To guide investors in their decision-making process, he shared with us four aspects to focus on to identify opportunities post-COVID-19 outbreak:

1. Real estate fundamentals

Investors must learn to separate real estate fundamentals from COVID-specific fundamentals, particularly since this downturn was not caused by a real estate component, banking or others, but by a biological factor.

“We need to make sure that we figure out what we think is going to happen with COVID-19 not just today, not just tomorrow, but over the medium term. We also have to remember that in the end, we’re all investors and investors have to invest based on fundamentals,” explained Lloyd.

Recently, their firm has witnessed investors base their decisions with what has happened in the last 60 to 90 days. Most of them have resorted back to the day trading mentality where they question if they can get back into the investment market, if the economy is already under recession, if the prices have gone down or if they have gone up, or if there will be a J-curve recovery.

However, he said that they have begun to overlook the fundamentals, which questions how the demand or supply is, what are the interest rates or what people are feeling about the underlying risk of a downturn knowing that thousands or millions of businesses across the globe might be permanently shut down in 90 days.

“We need to understand the financial and actual fundamental impact by looking at the actual recession itself and what that starts to look like in terms of occupational demand,” he added.

2. Recovery curve

Investors must learn to acknowledge the recovery curve since historical events that have substantially affected the global economy could give them a clue on what they should be looking forward to. Even though every downturn and recovery are different, there are still some basic elements to watch out for.

Lloyd suggests checking where the interest rates are at, where is the unemployment, where the actual occupational demand is coming from and how that balances against existing supply. By concentrating on these areas, you will be able to get a clear picture of the recovery curve.

“You [will be able to] understand how much real estate is actually available out there and what you think the demand generators look like as they start to recover through the recession. For us, that is a particularly important part of the real estate fundamental analysis,” he added.

3. Capital deployment

The short-, medium- and long-term priorities for capital deployment is another aspect that investors must focus on. This will be quite personal to any investor since they should be asking themselves what their priorities are, if they consider themselves as a long term investor who is looking for long term yield and not just upside, or if they are searching for opportunities where they will be driving upside and moving on repositioned assets to other long term investors.

This one is crucial because they must look carefully at their hold period, particularly since they are investing during a downturn. “Generally speaking, you have to be prepared to hold things longer because you don’t know exactly how long the recovery curve is going to be,” said Lloyd.

4. Capital structure

As an investor, he said that you must also look for a stable capital structure since “one of the things that almost always happens in a downturn is that banks ease lending or they make lending very favourable to themselves. This means that they will give you short term lending or bridge financing and are not taking the long term risk with you.”

“What we found can happen to certain investors is they borrow short and buy long. If the recovery doesn’t happen the way they think, they owe the bank the money and they haven’t actually exited the asset yet, or the asset hasn’t actually reached maturity yet – and you can get caught by that kind of thing. So creating a very stable fixed-rate capital structure is very, very important in these very, very extreme inflection points.”

Market forecast

For the next couple of years, Paul shared some predictions that countries in the region could implement to restabilise their economy. He said that in the recovery phase, we will be seeing more fiscal stimulus and tax relief measures. Essentially, countries will do whatever they can to get the economy back on track.

They will also be establishing tax incentives to encourage developers to shift inventory and to make real estate more cost-effective in this subdued market since there is a strong indication that investment and housing have a strong multiplier effect for the economy.

Moreover, local authorities will be relaxing restrictions on foreign investments, and there will be more collaboration with ASEAN and its close neighbours.

With these predictions in mind, Lloyd advised investors who are trying to figure out opportunities to get more returns to focus on the core markets in the next 12 to 24 months.

Within these markets, he said that you can search for any potential where you can transform value at the asset level. The idea is to choose a market that you think will offer higher levels of liquidity in the near to medium term.

The post Identifying real estate investment opportunities post-pandemic first appeared on Housing Market Marketing by Housing Market Group.

According to the consultancy, the impact on the Bangkok rental market has been delayed due to the structure of leasing contracts which tend to be yearly agreements. In some cases, expats have retained apartments and kept paying rent even though they returned to their home countries. Those that have stayed and were on expiring contracts are looking at short-term rental solutions that have been good news for landlords.

“Interestingly, there are also short-term upsides during COVID-19 as current leases are extended to avoid moving and entailing pandemic exposure. This is beneficial to apartment landlords as occupancy continues even after original leases expire without needing to find a new tenant and the associated marketing, repair or cleaning costs,” Khun Supawit Mahaguna, Research and Consulting Analyst at CBRE Thailand, wrote in a recent article.

Looking ahead, the Bangkok rental market faces challenges as housing budgets shrink, layoffs happen and other events soften demand. According to CBRE, some landlords are offering discounts as well as trying to get tenants to sign two-year leases at a reduced rate. This is a start, but landlords will need to adopt new strategies in the coming months.

“Landlords will need to adapt to changing market conditions by including more widespread offerings of shorter (six-month or monthly) lease terms and lower rents. For project-by-project expats and long-stay tourists, monthly leases would provide a spacious and more affordable alternative to serviced apartments and hotels,” Khun Supawit explained. “Meanwhile, current tenants can be retained by offering extensions, flexible due-date schedules and the conversion of security deposits into rental payments if needed.”

CBRE Thailand concluded that landlords and apartment building operators need to be more flexible than in the past in order to attract broader audiences and ensure Bangkok rental properties don’t sit empty. It will also be necessary to provide assistance to tenants since budgets are likely to change moving forward.

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According to Knight Frank Thailand Director of Research and Consultancy Khun Risinee Sarikaputra, real estate investors had been on the sidelines since the start of the year, but have been enticed by discounts and a belief condo prices will rebound once the COVID-19 situation in the country has passed.

“They are now coming back, thinking that the bottom of the condo market is worth an investment today,” Khun Risinee told the Bangkok Post. “Heavy discounts are applied to limited units, which is normally the tactic to draw in customers to the sites. Even if those units were sold out, developers would offer others at a discount price.”

Developers get creative with discounts to stimulate condo market demand

Thai developers aren’t slashing sticker prices on units. Instead, homebuilders are finding creative ways to save buyers money and stimulate Bangkok condo market demand. Special offers include developers making two years’ worth of mortgage payments for buyers. Other firms are waiving various fees and expenses.

The mortgage payment scheme has proven to be the most popular with investors. It allows them to buy now while prices are low and then possibly move on from their unit once the economy picks up in 2022.

Khun Phattarachai Taweewong, Colliers International Thailand Associate Director of Research explained to the newspaper that developers will continue discounts programs until June at the very least.

“The maximum discount we saw (in 2020) was 62 percent,” Khun Phattarachai noted. “The pricing campaign was successful as many developers could close projects with a number of unsold stock they carried over from a year ago.”

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What is the risk of buying a property in Thailand – OFF PLAN

1. First, you need to consider the stability and financial track record of the company building the project. Do your homework and investigate their history. Have they completed other projects before successfully?
2. What payment plan is offered? Are you expected to invest a considerable sum before the ground is piled? What are the monthly repayments and at what increments do those payments increase? What will be the final payment due? Look at the level of investment over the period of time it will take to complete the building.
3. Progress Reports. You need to be sure of the construction time and what intervals you will receive reports from the Developer. A significant risk of buying property in Thailand is lack of communication, make sure you know exactly how your investment is doing.
4. A risk you face is that designs may change during the construction. This may affect how the final project looks. Be diligent in your investigation. Look online at any other completed projects the Developer has finished. Often there are always old images showcasing what the initial Plan was going to look like? See if there are any noticeable differences.
5. Flip your purchase. A widespread practice and one that is often used to convince you to invest is to flip your purchase. This is another risk you have to consider. Yes, right now when you are looking at your investment, the project looks fantastic. However, that is not always the case. Financial changes in the Exchange Rate may have a considerable impact. Other Developer projects may be more desirable, leaving your investment behind. Remember, if you do not flip your investment, you will either have to pay the full amount or face losing the unit.

What is the risk of buying property in Thailand – COMPLETED

Buying a house or a condominium that is completed also carries its own risks. There are several factors you need to consider to avoid any risk when buying your property.

1. if you purchase your property in a Thai name, your wife, girlfriend, then you are at risk of losing your home if your relationship breaks down. You should consider a Thai Company to protect yourself.
2. Purchasing your leasehold property cannot exceed 30 years. There are options to renew the lease and extend this for a further 60 or 90 years. However, this is not guaranteed, and you at risk if the answer is no!
3. Transferring a property. This is not as simple as it may seem and can cause considerable distress. Foreigners are always under constant scrutiny when it comes to owning property in Thailand. Check if the property has a Transfer Option included in the existing property contract before parting with money.
4. Why? A question people often forget to ask. This beautiful house is up for sale and is priced at an unbelievably low cost. Yes, there may be a story that the owner wants to return to their mother country or work commitments etc. However, pay a visit to the local council offices and check with the planning department that no roads or other significant developments are planned to happen. Once you have signed the dotted line, you are at risk of any future events or roadways affecting your property.

The above list details the risk of buying a property in Thailand.

These are the most commons risks associated with property investment. Be sure to take your time, don’t rush into any agreement no matter how attractive it may be. Visit local planning offices and verify there are no scheduled developments ahead that will affect you. Check the lease of the property not just once, but several times. Seek assistance from Legal companies and solicitors. Because of these factors many Agents will steer you towards buying a condo in Thailand as the restrictions and risks are far less.

When choosing a Real Estate agent to assist you, be sure that the agent knows the area and more essential knows about the property.

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