Thailand’s economic features satisfy many long term investors’ requirements. The information below will help you in your research.
The Economist confirms: “Ongoing concerns over political stability will continue to prevent any major improvement in consumer and investor sentiment in the next year or so. However, towards the latter part of the forecast period, there will be a shift back to stronger domestic demand growth, but real GDP growth will still be slow”.
Export growth is also set to decline in the wake of the economic slowdown in important export destinations such as the USA. Thailand inflation hit 9.2 percent last month, its fastest pace since 1998. The Bank of Thailand raised interest rates for a second month in a row in order to fight inflation.
The government is concentrating on ambitious new marketing efforts to attract luxury tourism and meet its target of 10% annual growth in tourist numbers.
New construction in luxury resorts is expected to attract vast numbers of tourists on short term holidays, while generating excellent rental yields for investors who own these properties.
The cost of living in Thailand is still much lower than in most European destinations while the facilities available to tourists and visitors are modern and of international standard.
Property is lower priced in Thailand than in many other worldwide locations, and an increase in overseas interest is strengthening the country’s economy.
The completion of the airport has boosted the commercial property markets in eastern Bangkok and has made travelling to Thailand even easier.
Due to its popularity as a tourist destination, Thailand is one of the cheapest places to fly to in Asia, with direct flights readily available to Bangkok from many international airports.
Today, the government sees foreign investment as great asset while the dropping of certain financial requirements now make investment in Thailand an easier option than ever before.
Some investors are seizing the opportunity to purchase property now while prices are low. They buy safe in the knowledge that they will be generating long term returns when political and economic conditions eventually improve and the market builds fresh momentum.
There is no capital gains tax for private investors and low ongoing property tax applicable. Stamp Duty and transfer fees have been waived temporarily in a bid to attract more real estate investors to Thailand – all positive news for today’s buyers.
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