Press Release: April 17, 2020
Amazing Thailand: Opportunity in Thailand Property Market
Amazing Thailand. That is the official slogan for the Tourism Authority of Thailand because it’s beauty and culture. Thailand is also amazing as it has bounced back from every modern economic setbacks and headwinds and emerged stronger, smarter and more powerful.
From the 1997 Asian Financial crisis, SARS, Boxing Day Tsunami 2004, 2006 coup, 2008 Financial Crisis, 2014 coup, 2016 succession of the king, Thailand has recovered steady and successfully and will no doubt do again post COVID-19.
Thailand's currency has been steadily appreciating against all major global currencies since 2001. This has been a great multiplier for property owners here as capital gains and rental incomes have been increased by currency gains. Since January this year the Baht has weakened 10%, making it a great time to invest in Thailand. This results in a significant cost saving for overseas buyers. The Thai government has huge currency reserves and the country has a stable outlook therefore the Baht is likely to remain a stable currency for years to come.
There is a lack of debt in the property market in Thailand because banks will not issue loans against property to foreigners. Property prices are typically very stable. However due to the current situation and a lack of buyers in Thailand at the moment, NOW is the time to buy with sellers more negotiable than ever before. Property developers in Thailand usually will not negotiate on prices but now many are willing to include; property upgrades, free furniture packages, flexible payment terms or discounts for upfront cash purchases.
Private sellers are also likely to be willing to offer bigger price discounts to ensure their property sells quickly, especially those sellers who have ridden the rise in value of the Baht during the past decade.
Rental returns on properties in Thailand have been very attractive in the past, averaging 5% or more. Purchasing property now will give buyers the opportunity to generate much higher rental returns in the future.
We are very confident that post COVID-19 Thailand and its property market will recover quickly. Thailand has an excellent infrastructure, first class health care, international schools, name brand hotels and of course the world-famous Thai hospitality. Thailand will continue to attract tourists and retirees worldwide. However, by the time tourist numbers recover, the opportunity to purchase properties at current discounted prices will be gone forever.
"Widespread fear is your friend as an investor because it serves up bargain purchase.." - Warren Buffett
For latest Thai Property see: www.siamrealestate.com.