Second Home Thailand,Thai Real Estate

Under-Supply of Koh Samui Property Drives Up Prices

Under-supply of resort property on Thai islands like Koh Samui and Phuket is generating substantial growth in their respective resale markets. The under-supply has been caused because of developer’s reluctance to go ahead with new projects in case government restrictions on foreign ownership hinder sales. It is hoped that the government will soon raise the percentage of property that can be bought by foreigners.

None the less the under-supply presents investors with a fantastic opportunity. The under-supply is primarily on condos and apartments, but has stunted sales, which means there are still some great developments to choose from. Significant resale price growth is another arm to the opportunity presented by off-plan property, because the immediate value rise on completion is all the greater.

Liam Bailey, head of international research for overseas property specialists David Stanley Redfern had this to say about the Koh Samui opportunity:

"The latest news from Koh Samui does nothing more than make it an even better opportunity. Luxury villa prices rose by 50% per year in 2006 and 2007, and have always been expected to continue growing strongly. The current under-supply issues will only serve to maintain high demand, or even cause demand to grow for luxury resort property on the tropical island with some of the world’s best unspoilt white sandy beaches."

As far as off-plan opportunities go, David Stanley Redfern’s Maenam Hills development on Koh Samui is one of the best in the world. Maenam Hills consists of 2 bedroom off-plan resort villas priced from only 100,000. The great thing is that the developer is offering non-status 50% LTV interest free finance on the villas over a period of 48 months, on the spacious villas. The Maenam Hills villas also come with a 6%p.a. uncapped rental guarantee for the first two years.

David Stanley Redfern are also marketing off-plan apartments on Koh Samui. The Siranya development offers 2 bedroom apartments with sea-views and rental management from just 103,000. The expected yield is 8% for owners who take rental management on their property, and the development also has a restaurant, clubhouse and spa.

Find out more about Koh Samui property.

About David Stanley Redfern

David Stanley Redfern Ltd is one of the U.K.’s leading overseas property investment specialists. The reasons for this are an incomparable range of international properties spanning 40 destinations worldwide, and unrivaled customer care, which lasts long after the purchase has been completed. Experienced, professional staff and membership to the overseas property market’s regulatory body: the Association for International Property Professionals, as well as their stringent due diligence procedures gives buyers the confidence that any purchase with David Stanley Redfern is a safe one.

Media inquiries should be directed to Liam Bailey at media@davidstanleyredfern.com

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Property in Phuket - Investors Turn to the East

With recent months seeing relative instability and poor returns from overseas property investment, the past twelve months have seen property investors going through a period of reflection, as they look to see which international markets will offer them the long term returns of investment they are looking for. Issues such as increasingly fragile economies and oversupply in traditional markets, have seen investors starting to look at markets such as Phuket with a view to them offering higher yields over the next few years.

Larger than Singapore, and located approximately 860 kilometers south of Bangkok, Phuket is one of South East Asia’s premier tourist destinations. Friendly locals, good infrastructure, exceptional cuisine and a tropical climate have resulted in large numbers of international property investors moving into Phuket. As such, the island is rapidly becoming a regional hub of international property investment, offering relative stability in uncertain times.

Recently Phuket has seen some exciting, and genuinely innovative property development projects being launched on the island. Projects such as the Royal Marina and the Laguna Village are well conceived developments, which prove attractive to overseas investors. These projects offer a genuine lifestyle choice for people, offering waterside living in a beautiful and friendly environment.

As well as the favorable local conditions for investors, the second factor affecting this growth in demand for property in Phuket is the increasing acceptance of overseas property investment in Thailand by the local authorities. At present, Thai law states that a foreigner may not own the freehold to the land, however they are able to purchase a freehold title for the building which sits on the land. In effect, the resulting purchase agreement will see the purchaser buying the freehold title for the property, and a separate 30 year lease on the land itself. In this instance, it is common for the contract to provide an option to extend the lease a further two times, each for thirty years, effectively giving a 90 year lease.

Property legislation in Thailand is slightly different for investors wishing to purchase a condominium, where a developer is likely to offer the purchaser both a leasehold and freehold option. Under Thailand property law, foreign ownership of a condominium must be under the allow limit of 49%, and in this instance ownership on a freehold basis can be offered. However if the block is currently over the 49% foreign ownership quota, then the property will be offered on a leasehold basis with the option to extend twice for periods of 30 years.

Whilst this method of property legislation may seem time consuming and complex, it is commonly practiced throughout Thailand, and it is believed that the authorities are currently looking at streamlining this process. As with all property purchases overseas, the requirement for a solid understanding of local legislation makes the choice of a good, multi-lingual solicitor a key factor to a smooth transaction.

These more favorable conditions, coupled with the stable political and economic climate currently being experienced in Thailand, investors are seeing long term returns from a market which currently represents good value in the property market.

The market for property in Phuket is gaining popularity, but still has a long way to go before reaching maturity. With a range of property on offer in the region, Phuket has something to cater for every budget and taste.

Author: Mark J Burns

Phuket property? Phuket property is so amazing because of many answers, not just one defining one that pushes people over the edge on the product. When you see these Phuket villas you jump ship right away and live the life that you worked so hard. Phuket Real Estate Markets Buying home, condo or any other real estate property for sale in a market that is protected from a bursting Phuket real estate bubble is every investor’s dream. Laguna Phuket The completion of the Suvarnabhumi-Phuket International Airport has spurred growth in commercial property markets in eastern Phuket as well as in the beach resort of Pattaya.

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Buying Property In Thailand

When thinking of overseas property for investment purposes the British have invariably and predominantly looked to Spain and France in the past. More recently Bulgaria,The Czech Republic, Poland, Latvia, Croatia and with their accession into the EU on the first of January 2007 Romania now seems a viable option and alternative. For some of the more pioneering Americans Eastern Europe is also a favourable choice for affordable real estate, offering a low cost and comfortable standard of living. Furthermore the majority of the emerging economies within the Eastern bloc and real estate markets are pro active and working hard to attract foreign investment.

A growing number of US citizens are choosing to move north to Canada where real estate can be cheaper,taxation can be lower, healthcare is far cheaper and the standard of living as high as in America. Countries such as Mexico, Panama and Belize are well known as lower cost locations for US citizens seeking an affordable overseas location. Living costs, real estate and taxation are all low. However the main consideration is the affordability and accessibility of healthcare and of necessary treatment and care, each of the three countries mentioned fails in one way or another. Furthermore, younger Americans may struggle to find decent employment or education for their children in Mexico, Panama or Belize.

The British have always been obsessed with property and the expression ‘an Englishman’s home is his castle’ has never rung more true. With the cost of housing within the UK out of the reach of most first time buyers and those first time buyers continually vying for property with buy to let investors more of the early twenties are putting down roots in more affordable countries. As always though anyone considering these locations are advised to act sooner rather than later.

The Sofia Echo in early January reported that developers have worked on entire apartment and villa complexes in smaller and less popular regions with significant funds allocated to such projects. Investors, it seems, showed more interest in getting a new apartment close to a major city, rather than an old house to refurbish. as a result of continual development the price of property in such regions remained almost unchanged throughout 2006. In some regions, the price of property even went down. Varna region registered a 15 per cent price decrease. The average price per square metre in the region dropping from 600 to 510 euro. Supply also brought down the prices of property in the Bourgas region.

With the advent of cheap air flights this has further enhanced the idea of a dream home in the sun. However can accessibility be correlated directly to sustainable investment potential. Thailand is approximately 10000 miles from the US and approximately 6000 miles from the UK, With flying times of approximately 21 hours and 11 hours respectively. Perhaps not suitable to the masses and ensuring a restricted and select ex-pat presence.

Thailand has three main seasons per year. Northern climatic conditions are preferred by Thais countrywide as the coolest and most comfortable. Generally northern temperatures are between 3-5 degrees lower than the rest of the country, Chiang Mai city is a favoured location and the climate is perfect for visitors. Cool mountain air and bright sunny days ensure that this Shangri-la setting will remain a favourite for many years to come. The North also differs during the rainy season and continuous rainfall is quite rare. It will usually rain heavily for a period between 30 minutes to one hour, once or twice a day and soon dries up after the sun appears. The area is then left feeling fresh and cool. The average temperature throughout the year being approximately 26 degrees.

Chiang Mai has a significant expat community and some figures put the number of "farangs", or westerners at 5,000. Chiang Mai is much of what Bangkok is not. Instead of the flatness of the Maenam Valley one is treated to ranges of forested mountains that sweep northward to Burma. Hill tribes in colorful costumes are common sights hawking their handicrafts around the night market. As Bangkok has no definite city centre, Chiang Mai’s is clearly defined by a moat.

Chiang Mai is certainly easier to negotiate than Bangkok. Walking, bicycling and motorcycling are realistic alternatives to driving. Or if you prefer, tuk-tuks are prolific. A relatively well organized system of songtaews (pickup trucks with benches and canopies) run a sort of shared service around greater Chiang Mai. Some can be hired much as a taxi service. Chiang Mai stands on the banks of the Maenam Ping (river) and quite a number of good restaurants are perched along the banks.

There is also a strong emphasis on healthcare and Chiang Mai has several quality hospitals including Chiang Mai Ram,Chiang Mai University and the McCormack Hospital. Along with the presence of US and UK consulates. ATMs are everywhere and currency exchanges are commonplace. Interest earned on fixed deposit accounts is taxable at 15% and collected by the banks.

By: Martyn Witt

Thailand Investment Property The process of buying in Thailand can be complicated, but with good research, advice and an English-speaking lawyer, most of these complications can be avoided. If you are planning on buying land. Buying Property In Thailand Buying property in Thailand is an increasingly popular move by foreigners. Whether it is as an investment in a holiday rental home, a place.   Property Purchases in Thailand Property financing for foreigners in Thailand is available. When we buy a property back home, one of the first things that come to our mind is financing. Even for those who have enough funding and liquidity for owning a property.

Technorati Tags: buying a house in thailand, properties for sale in thailand

www.secondhomethailand.com is dedicated to providing quality information on the subject of buying real estate in Thailand.

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