When is the right time to buy property in Thailand?
Thailand has over the past 1-2 decades seen SARS, Tsunami, political unrest, demonstrations, military coups, floods, world financial crisis, but despite all that, the number of tourists has gone up and up – almost quadrupled over the past 15 years.
Figure 1 – Tourist arrivals from 2001 to 2015
Considerations for potential buyers
Worries about a new global financial crisis or new political unrest in Thailand seems to be ignored by tourists. The numbers keep going up, with the share of Asian tourists growing faster. Future national or international crisis are unlikely to influence the overall picture.
The best time to buy property is NOW
Waiting for a major crisis in Thai tourism with the opportunity to buy property when holiday home prices take a big dip seems like a bad idea when looking at the above chart. There is a proven growing demand for holiday homes in Thailand, and prices will therefore keep going up at a steady pace. The conclusion is easy: buy now, and your investment will add value over the following years. If you wish to rent out your house or apartment, the picture is the same – more tourists, easier to rent out, better return of investment.
More focus on “quality tourists” – like tourists in the Rayong area
The government and the whole tourist sector is clearly trying to improve the overall standards of tourism in Thailand. The police have cracked down on drug tourism and sex tourism everywhere in the country, whereas “quality tourism” is being supported. Rayong has always been an area for quality tourism, and this image is likely to benefit tourism business in the area in the coming years.
The Rayong Specialist and VIP Real Estate has seen only steady growth
Year over year we have seen a steady growth in both rental and sales. Many of our guests, who initially rented a holiday apartment or a house, have decided to make Rayong their primary holiday destination, and have therefore invested in an apartment or a house. Not only is it nice to feel at home and meet old friends when you go on holiday, but on top of that you get a solid return of your investment.
All signs point at further growth
We are constantly developing new projects with luxury and affordable houses and apartments to keep up with demand. We have new as well as second hand property. NOW is the time :-)