28 Nov How will Thailand’s Real Estate Market Evolve in 2017
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It’s a well-known fact that nowadays the majority of real estate agents earn their everyday money by offering resale units and rentals. This is perhaps the most dynamic sphere that always undergoes radical changes and if the agent is not wise enough he/she may lose the game. There are many people who prefer cooperating with companies that offer stable returns.
When it comes to Thailand’s real estate market in 2017 Luxury Living Samui can say that this year Koh Samui is going to have even more resale units available than before due to abundant supply and unsold Koh Samui properties. However the min question is “Who will buy these re-sale units? Well, let’s go deeper into the details to find out the answer to this question as well as some other interesting issues regarding the development of the real estate in Thailand.
Resale Unit Deals
The history shows that developers are used to set up subsidiaries to manage rentals and resales within their own vicinity. In fact, many become a collection point for agents who are searching for listings. As a result, third party agents manage to get better deals directly with the owners. So, the developer needs to be smart and wise enough because, if he is not fast enough to sell off their new units on their own, the resale units will stagnant the selling process by offering lower priced units. Generally, new evolvements are lined up side by side in new districts and they can offer more affordable investment and stable returns.
Also read: Investment in property remains strong
Thailand’s hospitality sector
As for Thailand’s hospitality sector we can say that Thailand stands out with its wide range of hotels in Southeast Asia and the Pacific region. It offers the most hotel properties which means that demand for tourist accommodation is growing year by year, opening doors to smaller businesses and individual property owners. Researches show that even foreign buyers are familiar with a buy-to-let scheme. Thus, developers usually collaborate with hospitality companies in order to set up legal schemes that ensure return on investment.
House and Land Tax Acts
In case you or your company owns a condominium unit or villa anywhere in Thailand that was used (even if only for one day) by someone other than its legal owner, you or your company is liable under the House and Land Tax Act. The comping years are going to make these two laws stricter. Today the Ministry of Tourism and some Thai hotel associations tend to put additional pressure on the ongoing operations.
Since the world is evolving into a virtual place (that is almost impossible to regulate) some co-living rental websites become more and more popular. However, one thing is a well-known fact; Koh Samui remains one of the top tourist destinations in the world, where you can find all the facilities of the modern world as well as the desired contemporary convenience. It’s also one of the best places to invest in and spend the rest of your life.
Also read: Bangkok, the region’s startup capital