What are the main property hot spots in Thailand?

Thailand, with its thriving tourism industry, is considered a good prospect for development. Thailand 's many islands and beaches make it popular with sun seekers, and the mountainous scenery and the varied culture of the north make it an interesting holiday destination. Buying a holiday home in Thailand is an option worth considering for those who are not planning emigration but wish to buy to let. Others may be considering relocating to Thailand . Bangkok is becoming increasingly westernized with many global companies having a Bangkok office.

Types of Thailand properties available to buy are: condos, houses, shops, bars, restaurants, hotels and complexes. It is possible to buy land to have housing or wooden bungalows built fairly cheaply. Buying land in popular holiday resorts for development is an option, but some of these areas have now been protected so there are limitations on development. A non-refundable deposit of 10% is usually required and the balance should be paid within 30 to 60 days depending on the contract. When buying condos, find out what the maintenance charges are and make sure you get it in writing.

What are the main destination property hot spots? We can start the list with the capital of Thailand. The metropolis of Bangkok has been experiencing a property boom over the last couple of years. Prices in the central areas have soared, especially for the CBD. There is good demand for condominium units in the central areas, however the competition is heavy. Housing is practically only available outside of the central areas and therefore not very popular among foreigners.

Another one is the property market in Pattaya, Thailand's most popular and most developed holiday destination, is being driven by its proximity to Bangkok, and the forthcoming Suvarnabhumi airport. More and more people buying houses and condominium units in Pattaya as first homes, as second homes for leisure and relaxation, and as retirement residences.

Next is Phuket Island which is now seeing worldwide demand for luxury ocean view property and investors are cashing in at all levels with land prices doubling, on average, every three years. Due to direct air links with Phuket International airport, Phuket Island has been successful in attracting a cosmopolitan blend of Asian and Internationally based investors which has led to incredible stabilty in Phuket property prices at times when other areas in Asia have been suffering economic slowdowns.

Also the island of Koh Samui experiences heavy interest from investors and buyers as it has practically everything it needs to compete with other locations. Many buyers prefer Koh Samui for the laid-back, casual experience of the tropics. With Chaweng area being the main tourist and entertainment location, real estate developers now focus more on other areas for development.

Any place in Thailand is party paradise, luxurious international property hotspot and holiday makers' haven - Thailand has become a Mecca for visitors of all persuasions since news of the country's year round sun and stunning beaches. Combined with the fact that globally attractive Thailand boasts one of the worlds most empowered and foreign investment boosting economies, its considerably strengthened property market annually sees a 10%-15% value increase which is already being appreciated by the more assertive and keen eyed investors.

Author: by Laura Johnson
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