Thailand is becoming increasingly popular as a vacation destination with tourists and with investors. Consequently, the country has a lot to offer in terms of culture and nature. Moreover, the locals are very hospitable and you can enjoy nice weather all year round. Thailand is the ideal vacation country and an excellent destination for a second home!

Beautiful location for a second home

Thailand, formerly Siam, is also called “the land of smiles. Its predominantly Buddhist inhabitants (over 90%) are extremely friendly people. The country has a rich culture with numerous temples, festivals and holidays that are celebrated extensively. Inland, you will find beautiful natural parks and forests and on the coast are beautiful beaches and dive sites.

Rapidly growing economy

Thailand is a parliamentary constitutional monarchy with western-style laws and regulations (common law system). The country has one of the fastest growing economies in Southeast Asia and a strong local currency (baht). Unemployment among Thais is very low (less than 1%). In particular, the financial and hotel sectors are doing extremely well and employ many people. Machinery, computers and telecommunications equipment, transport equipment and agricultural products are mainly exported from Thailand.

Non-stop pleasant climate

Thailand is always wonderfully warm. Daytime temperatures fluctuate between 25 and 35 degrees year-round. The rainy season (monsoon) runs from June to November. Thailand is a great country to invest in a second home thanks to its pleasant climate. You can spend the winter there yourself or rent out your vacation home to tourists. Additional factors for choosing Thailand are its low cost of living, excellent transportation infrastructure (air and sea ports) and high-quality medical care.

Rising interest in real estate

It is noticeable that more and more people are choosing Thailand as a vacation destination or as an emigration country (permanent living or wintering). The number of people investing in a second home in Thailand is also rising significantly. This is a smart investment because of the guaranteed return. Depending on the location, the average price for a newly built apartment fluctuates between 80,000 and 100,000 THB (2,000 to 2,500 €) per m². Compared to Western Europe, these are low real estate prices, although they are expected to rise due to the growing economy. The Thai Board of Investment makes many efforts to encourage investors, for example with tax benefits for those who invest through the BOI.

Tips for investors

Those considering purchasing a second home in Thailand should think carefully about a number of issues:

• What is the reason for the purchase? Is it a pure investment? Do you want to rent out the property or use it as your own vacation or (semi-)permanent residence?
• Inform yourself about the climate: can you cope well with high temperatures all year round?
• What about your work and relationship?
• Where do you want to settle? Do you prefer proximity to a beach or prefer inland? Take into account accessibility, proximity to medical facilities, social and recreational opportunities, schools….
• What costs are involved in the investment? Consider property maintenance, taxes, annual expenses…

Real estate in Thailand

There are a number of options for foreign investors in terms of owning property in Thailand:

• Purchase of an apartment in a condominium entirely in one’s own name ( in accordance with the terms of the Condominium Act art. 19);
• Apartment with a lease of 30 years with the possibility to renew 2 times;

• Purchase of land/house is also possible by establishing a Thai Ltd. This is only recommended if you want to exploit the property and thus it is a business investment. It is prohibited to establish a Thai Ltd. for the sole purpose of acquiring Thai real estate. This is strictly enforced.