As a real estate market, Asia yields the palm to Europe, which is nearer and more understandable for us. On the other hand, it is nearer only for those who reside in the central part of Russia. At the same time for Siberians, it is equal to buy a house in Bulgaria or in Thailand. For them holiday in Thailand will be lower in cost as there are charter flights directly from the main Siberian cities. Thereby, costs of health resort real estate in Thailand are considerably lower than in Europe.
   
Thailand: exotics which has been put on trial

The real estate market in Thailand is perhaps the most familiar Asian market to our country fellow men. The fact is promoted by steady stream of Russian tourists in the country and a visa-free regime. Besides Thailand offers a wide assortment of real estate for sale of different quality and various price categories. A colleague who has recently come back from this country told that she was deeply impressed by proportions of both construction and offers for sale, the last met everywhere.


“The real estate of Thailand becomes more and more popular among our compatriots,” Evgenie Skomorovsky confirms. “Basically it is a question of buying villas and bungalows on the Thai islands, mainly on Phuket. However, apartments in new many-storied complexes of Pattaya are also in demand”. According to the “Doki” company about 65 % of purchases in Thailand are made by Russians first of all for personal advantage – for rest, and only secondly – for acquisition of income, both from rent and subsequent resale. «However, the quantity of investment has recently increased. One can buy houses and villas not only with help of Thai realtors, but also through capital real estate agencies,” the leading expert of the real estate agency Doki, Alla Aksenova, says.

The scheme of real estate acquisition in Thailand cannot be called simple: like in Vietnam, foreign citizens have no right to become proprietors of land. However, it is possible to lease land for the term of 30 years with maximum prolongation up to 90 years. Another variant is registration of a local legal person and acquisition real estate on its balance. Concerning apartments and flats in condominiums, one can buy them in one’s favor without creating a resident company (under a condition that 51 % of apartments belong to Thais.

If desired, a foreign buyer can take advantage of real estate loan, addressing in banks, for example in Bangkok Bank or HSBC. About 70 % of appraised value of a real estate item are financed for a period of up to ten years. “At apartment purchase in an under construction house directly from a builder installments are possible. At first 50 % of cost are paid, and the rest is paid without percent by equal shares quarterly up to the building termination”, - Evgenie Skomorovsky tells.

Experts advise to consider not only the price when choosing a habitation place. “Going on holiday to Thailand, choosing a real estate there, Russian buyers first of all try on the house or apartments on themselves. They consider themselves and their relatives as the best focus group in order to estimate attractiveness of a real estate item for potential tenants or buyers. Very often such estimation happens to be false, especially if it concerns new buildings located near Pattaya”, says Alla Aksenova. For example, apartments in an inhabited complex located on the first line of the sea, can cost twice as much in comparison with habitation, which is farther from the sea, in the country. “Many Russians think that if the real estate locating near the sea is expensive, they can buy a cheaper house in the country. However, can they be sure that in a year or five the will be able to find a buyer for the house? That is a matter of argument”, Alla Aksenova tells.


Besides, it is necessary to estimate soberly quality of concrete objects and their potential liquidity; first of all, it concerns the primary market. Many projects are frankly unsuccessful: for example, class of houses mismatches location (elite villas can be far from the sea) or the object can be located in adverse social environment. Besides, a chosen house or a villa can be very far from social and trading infrastructure. As a result, it can happen that no shops, cafes or markets will be easily available from the house. It will be difficult to rent it and the owner will have to reduce rent cost that will affect period the investments reimbursement. It can take decades to compensate the purchase.  

Author: Anna Shekhova
«D`»
With reference to Prian.ru