HomeReal EstateThe Many Benefits of Purchasing Rental Property in Thailand

The Many Benefits of Purchasing Rental Property in Thailand

If you love to holiday in Thailand and you are a frequent visitor to this enchanting land, you may not have considered actually buying a home within the Kingdom. As an investment, buying a luxury property is a wise move and you and your family can use the villa when you take your annual holiday, while receiving a regular income for the rest of the year.

High season rentals

If you buy a luxury house for sale in Pattaya, you can ask high prices from November to February, which is the high season. If you connect with a leading Thai property management company, they handle everything from sourcing and screening tenants to building maintenance and security, making sure that your asset is in good shape.

Building maintenance

It is never a good idea to leave a property empty for longer than a couple of months, things quickly go wrong, not to mention security. This is a good reason to engage the services of a property management company; aside from communicating with tenants and collecting rent, they maintain the house and the grounds. If the house is unoccupied, they send someone every week, while mobile security would pay a daily visit, to ensure that your home is secure.

Set up a limited company

Talk to an English-speaking Thai business lawyer about setting up a private limited company; ideally, find a Thai partner and they hold the majority (51%) of shares while you hold the remaining 49%. Hire a local accountant to manage the books and talk to a visa agent about a work permit, which allows you to be hands-on with your business.

Asset appreciation

Thailand is one of the premier tourist destinations and owning luxury real estate in a prime location such as Pattaya will see the value rise; if you take a look at the previous 10 years, property prices have soared, which means your investment is generating wealth.

Business expansion

Connect with a leading property management company and let them handle all management; sourcing tenants, drafting rental agreements, liaising with tenants and maintaining the house and grounds. After 1 year, you could add another two properties; you have an efficient partner in your property management connection, keeping things as they should be. Pay your taxes and you have a secure business that enables you to obtain a long-term visa and you can eventually retire to one of your properties.

To conclude, buying luxury real estate in Pattaya, Thailand offers you numerous benefits, which we mentioned above and if you have yet to experience the Land of Smiles, start by renting a villa for a few weeks and see how that goes. Pattaya is home to many tourist attractions and many expats have chosen this part of Thailand to live, due to the close proximity with the beach.

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