Investing in a Bangkok Property
Bangkok has strict rules with regard to property investment, making it difficult for foreigners to own a land or a home in the country. However, for those who are really interested in owning a private residence, investing in condos and apartments is the most feasible action.
Today, there are many property developers that are owned and managed by foreign companies who are working to accommodate the investment needs of the expatriate community. To create competition, there are also Thai developers that serve the population. So, if you want to own a home in the country, consider looking at the apartment market.
Meanwhile, there are some important factors that foreign property investors should keep in mind when buying apartments. First of which is the legality of the property. As common sense will tell you, make sure that your chosen building faces no possibility of any legal problem. Or else, you will find your investment unfruitful.
The next point to consider is the location. Property prices vary widely in Thailand according to amenities and address. In Bangkok, the cost of a one-bedroom apartment can be anything from 500,000 Baht (or 10,000 British pounds) to 30 million Baht (60,500 British pounds). Depending on what you can afford to pay, carefully choose the location of the property you want to own.
It must be noted that at the beginning of 2008, the condominium market's selling prices averages at 80,000 Baht (1,600 British pounds) per square metre. This continuously increases every year at a rate of about 10 percent. Thus, if you are to buy an apartment or a condo unit in the country, you must secure your finances first.