Thai real estate is a guaranteed return. Moreover, it is not necessary to fly to Thailand to purchase a local property, which is especially important in the current situation with closed borders. We discussed this issue with Vadim Bukhkalov, the CEO at Layan Green Park and VillaCarte.
Current Cituation
Despite the fact that there are relatively few infected people in Thailand, people in Asia are disciplined. Locals do follow the new rules. Everything is closed: supermarkets, entertainment, even beaches. But food stores and pharmacies are open, and you can also drive cars without any problems.
Surprisingly, all construction sites are working! Each one employs so many people that it looks like an anthill from the outside. However, the rules of distance are not observed in this situation: builders are transported in trucks by large companies. The resolution of "Stay two meters away from each other" is not working.
But otherwise, the authorities, entrepreneurs and ordinary people observe all the necessary measures. The delivery of goods has become very popular.
Remote Property Purchase in Thailand
Yes, the borders are closed, but you can also buy property in Thailand online. And this is not the "merit" of the coronavirus and canceled flights. Resort real estate has a long history of purchasing remotely.
Usually people arrive for a two-week vacation, make a purchase decision, and make the deal itself, already at home. Our clients include professional investors who have bought Thai properties without ever visiting this country. One of them has bought 14 apartments at once and this happened long before the pandemic. So the experience is not new, and the scheme is simple.
The plan of action
Step 1. Choose the type of property (for example, a villa or apartment) and a specific option.
Step 2. Make a deposit. The real estate agency prepares a reservation agreement (a deposit agreement), which specifies all the nuances like the cost per square meter, the final price of the apartment, its square footage, payment schedule, view from the windows, and so on.
Step 3. Make the first payment under the reservation agreement. Funds are transferred directly to the developer and can be transferred remotely. After that, the apartment is removed from sale and assigned to the depositor for a month until the next payment.
Step 4. Preparation of the main contract, which is then sent to the buyer in any country using the DHL service. The investor signs it and sends it back to the agency. It is needed for subsequent amounts.
The agency's lawyers translate the contract from Thai into your language. They also guarantee the accuracy of the translation and may slightly change the items by agreement with the buyer. In case of a court case, only the Thai version of the agreement is provided, the other version is only necessary for the investor to understand.
The contract specifies the payment schedule and penalties for the buyer (in case of late payment) and for the developer (in case of delayed construction).
Step 5. Regular transfers of money according to the schedule specified in the agreement. You can use a bank in your country of residence. All payments are made at the exchange rate on the day of transfer.
Please note!
According to Thai law, any contracts are signed with the participation of two witnesses. They can be representatives of both parties. For example, lawyers of the developer and the agency. In the event of a trial, witnesses can be brought to the case.
The buyer does not sign any contracts with the real estate agency and does not pay them anything. The agency receives a fee from the developer. Buyers who want to get more detailed information about the developer than the one provided by the agency can order an independent check. It costs about $1,000-2,000 for a property of about $200,000.
It is advised to carry out it necessarily, if it is a question of buying an expensive villa or a secondary real estate. As part of this, the history of the land is clarified, whether it is properly registered, whether a construction permit has been obtained, and so on. Verification of apartments in new-build condominiums is usually not required, because the legal chain of relationships is built up and affects several participants, which makes it almost impossible to conduct fraudulent transactions.
Facility Acquisition and Registration of Ownership Rights
Up to the last payment the buyer does not need to come to Thailand, the process is debugged. But as soon as the object is built and it needs to be accepted, it is recommended to come. This is necessary in order to personally evaluate the quality of the finished product. Moreover, in an apartment, if it is an investment property, it is even better to spend the night in order to personally assess all the nuances of everyday life.
However, the primary purpose of arrival is to obtain documents. After the property is put into operation, the buyer receives a certificate of ownership and, if possible, they must do it in person.
However, if you do not have the opportunity or desire to come to Thailand, you can also arrange remote receipt of documents. To do this, you need to contact a local notary in your place of residence, write a power of attorney for a Thai lawyer, translate it into English and certify it. In Thailand, a certified translation into Thai is made by the agency's lawyer.
Principles of Choosing a Property for Profit
When choosing an investment property, first of all you need to look at its location. Moreover, not only the seaside, but also the tourist infrastructure. You should ask yourself the question: "Would I like to stay or live there?"
For example, there are projects on the East coast (in Chalong or Phuket Town) with attractive prices. But nobody would advise you to buy an investment property there, because these aren't any tourist places on the island. A better solution is to invest in apartments located near the beaches on the West coast.
As for the proximity to the sea, it makes no sense to look for real estate on the first line. There are very few projects near the water, and prices for them start from $1 million. And standard investment apartments start at $80,000-100,000. These apartments are located at a distance of 0.5-1 km from the sea.
Examples of profitable real estate in Phuket:
150 524 €
Apartment on Phuket Island, Thailand
35 sq.m11
In the complex: the project consists of two buildings, 5 and 7 floors each. On the roofs of the buildings there are infinity pools (infinity effect), which offer a fascinating view of the sea and sunset; on the ground floor there is a separate area with a restaurant, a restaurant-bar and a terrace with gazebos on the roof overlooking the sea, a...
Exotic Property
269 063 €
Apartment on Phuket Island, Thailand
110 sq.m12
The complex has 24 apartments with access to the pool surrounded by greenery on the shore of the beautiful Natai beach in Phang Nga province. The complex has everything for a wonderful holiday, a popular beach club by the sea, a restaurant, a Spa, reception, 24-hour security, Parking.
In the apartment:luxury apartments with 1 or 2 bedrooms,...
Exotic Property
79 919 €
Apartment on Phuket Island, Thailand
40 sq.m111
A special condominium where designers paid attention to every detail - color palette, finishes, furniture, project location - absolutely everything is adjusted to the millimeter, for your comfortable stay at home. A particularly successful location near the famous beach with airplanes will definitely become a point of attraction for tourists,...
Habita International Estates Ltd
1 089 000 €
House in Phuket, Thailand
662 sq.m45
We invite you to get to know your potential ideal home in Phuket. This new property project, launched in 2022, offers not just housing, but a lifestyle where luxury, elegance and sophisticated design are embodied in your future home.
These are not just villas. This is a unique combination of modern design and exciting tropical style, created...
Mercury Group
66 665 €
Apartment on Phuket Island, Thailand
27 sq.m111
The Fantasea Condo Kamala it is a new project with a fresh modern vision of architecture and design. Comfort and convenience are combined here. Designers and planners thought through every detail of the building, and when creating the apartments, they thought about the life of the resident, which emphasizes ergonomics and plastered spaces even...
King Window View
1 037 400 €
Villa on Phuket Island, Thailand
646 sq.m534
Menara Hills - a luxurious real estate project located on the picturesque island of Phuket in Thailand. Comprising a collection of luxury villas, this project captivates with its magnificent architecture, lavish amenities, and stunning views of the surrounding nature. Each villa features modern design elements, high-quality finishes, and smart...
Introducing a cozy gated community of 16 villas, located 6 km from Phuket International Airport in Sakoo Province. It is in close proximity to three top-rated beaches with white sandy shores - Nai Yang, Nai Thon, and Banana Beach.
Payment Schedule:
- Contract Signing after reservation: 35% ---- 5,600,000 THB
- Completion of Foundation: 30%...
Perfect combination of comfort and infrastructure:
- Shopping center, supermarket
- Sports complex and gym
- 3 swimming pools with sea view
- Trampoline center
- School and kindergarten
- Infrastructure area: 4500 sq.m.
Additionally:
- Professional Rejuvenation Clinic
- Restaurants and British pub
- SPA and cosmetology
-...
Elegant detached houses with swimming pools
Since the size of the villa is provided on the territory, it is possible to add another bedroom to the cost of sq.m. it will be 80 baht, and it is also possible to increase the cost of sq.m. it will be 40 baht (pool 7 x 3 5 m)
The furniture package is considered separately. The cost of a furniture...
50 Lemons
78 924 €
Apartment on Phuket Island, Thailand
31 sq.m111
The luxurious condominium, 5 minutes away from Phuket International Airport, surrounded by hotel, shopping plaza, club house and office building. Fully equipped with facilities and provide panoramic scenery of over 15 Rais lake, which can fulfilled your relaxing project is being built along the tranquil shores of Naiyang Beach, about 350 meters...
Habita International Estates Ltd
65 530 €
Apartment on Phuket Island, Thailand
27 sq.m11
In the complex: a building of 8 floors, a total of 609 apartments of various layouts. There is everything you need for a comfortable stay: lobby, garden relaxation area, laundry room, swimming pool with Jacuzzi and children's area, coworking area, wireless Internet throughout the complex, fitness center, 24-hour security and Parking.
In the...
Exotic Property
220 510 €
Apartment in Phuket, Thailand
81 sq.m322
Online ViewingRemote Transaction
The Ozone Oasis Condominium is located in the prestigious Laguna area on Phuket Island. 328 apartments divided into 3 modern buildings, There are many restaurants, cafes, shops within a short drive. Bangtao Beach is just a 5-minute drive away. Main Features: Tennis courts Oasis Garden Treadmill in the garden Children's playground Three spacious...
Azure Home Co Ltd.
535 393 €
Apartment in Phuket, Thailand
163 sq.m433
Online ViewingRemote Transaction
The start of pre-sales of the new Sunny Moon complex in Phuket from Sunny Development Group. SDG is a group of companies that includes: - Development company +12 years of successful experience Modern professional construction technologies Real estate construction in 6 countries (Ukraine, Thailand, Georgia, Moldova, Romania, Indonesia) -...
Azure Home Co Ltd.
605 303 €
Villa in Phuket, Thailand
381 sq.m33
The Trinity Prime is just a few steps from the Laguna area, and a few minutes from the central business district. You will enjoy a secluded, measured life in the villa, while having easy access to all the necessary infrastructure of a modern city, whether it is access to school, work or leisure. Andaman Asset Solution Co., Ltd created The...
NF Group
61 913 €
Apartment on Phuket Island, Thailand
32 sq.m111
A low-rise condominium in a modern and unique luxurious design from the combination of beautiful buildings and a friendly environment. Perfectly close to Nai Yang Beach and 5 minutes to Phuket International Airport. Embraced by lively scenery, the project gives a warm, homey feeling to relax in your private space of over 20 square meters. The...
Habita International Estates Ltd
172 674 €
Apartment on Bang Tao, Thailand
36 sq.m11
Remote TransactionCryptocurrency payment
1-room apartment in the complex
sale
Description
Apartments for sale in a luxury complex near Bangtao beach, in the elite Laguna area on the island.Phuket.
Sky Park Laguna residential complex buildings E, F is a new building under construction of a popular complex from the developer Laguna (more than 35 years on the market), in the best...
VRC Idrisova
1 300 000 €
House in Phuket, Thailand
450 sq.m445
Situated on a picturesque beachfront, this 4 bedroom villa is more than just luxury villas. It is a symbol of sophisticated living in close proximity to the sea.
The first phase of the project will consist of 36 villas surrounded by mountains and crystal clear waters. The villas offer a unique experience of being one with nature. With both...
Mercury Group
435 625 €
Villa in Phuket, Thailand
255 sq.m44
The new two-storey villas with private pools are designed in a combination of modern and traditional Thai styles. Minimalistic interiors with exquisite details and high quality materials create an atmosphere of premium comfort. The villas are fully furnished.
Amenities: swimming pool, jacuzzi, terrace, parking on the territory of every villa,...
Intermark Global
370 000 €
House in Phuket, Thailand
204 sq.m333
Designed specifically for families seeking privacy and modern accommodation, this unique pool villa is located in a picturesque location and perfectly combines the romantic elements of Portuguese style.
The villa offers an open space living room, dining room and fitted kitchen, a bedroom with bathroom and separate shower room, a storage room...
Mercury Group
567 822 €
House in Phuket, Thailand
352 sq.m33
Modern three bedroom villa, fully furnished, suitable for living and renting. Unique architecture, thoughtful space to the smallest detail. Your own private swimming pool. Beautiful design and great location.
Income can be obtained in two ways: an increase in the price of real estate and rental income.
From the moment of entering the project (in particular, at the early stage of construction) to commissioning, the project increases in price by 30-40%. The average construction period is 2-2. 5 years.
Next, the income comes from renting. If you manage it yourself, you can expect 10-12% per annum. If you entrust all the business to the management company, the yield will be about 6-8%.
The management company can be either from the developer or an independent one. In the first case, the management contract is already mentioned in the primary contract. But after the property is delivered, a new contract must be signed.
Payments are usually made to a Thai account, which requires a personal presence to open. If this is not possible, you can arrange payments to you local bank account.
An Example of a Profitable Project
This is the Layan Green Park family eco-condominium. The finishing of the costraction is scheduled for the 2nd quarter of 2022.
It is a 20-minute drive from Phuket airport and 700 meters from the 8-kilometer Bang Tao beach. This area is considered the most prestigious area of the island. There are five-star hotels and beach clubs in the area. The famous Boat Avenue Mall with bars, coffee shops, restaurants, shopping centers and European stores is also very close to the compound.
The complex has 400 apartments, most of which are studios with full kitchens (30.3 sq. m. m) and single beds (45.4 sq. m) with additional living rooms. There are fewer two - and three-bed apartments, but they are available for purchase.
After delivery of the complex, the purchased apartments can be taken by the management of the developer. Depending on the program, 10%, 8% and 7% of the annual cost of the property is guaranteed.
According to the first option, if you pay the entire price at once, 10% of your income is guaranteed for 10 years. After transferring the moeny, the first payment will be made exactly one year later.
The second option assumes a return of 8% over five years. Payments start after the buildings are actually put into operation, i.e. from 2023. To participate in this scheme, you need to pay 50% of the apartment price at once. Other payments are linked to the progress of construction.
The third scheme is 7% per annum for five years. The conditions are the same as in the previous version, but the first payment is only 30%.
For more details please cotact: VillaCarte
Mob: +66 89 290 01 10
E-mail: sales@villacarte.com
