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More foreigners may buy Thai property



Country:  Thailand

12 February 2008

Demand for homes in Thailand could grow on the back of strengthening tourism figures. The Tourism Authority of Thailand (TAT) says that the country is on schedule for around 10% annual growth in international visitors, from 13.82m in 2006 to an estimated 15.5m in 2008.

This is good news for property companies such as Investments Worldwide, which is actively trying to promote residential-led resorts such as Nirvana, located on the tranquil island of Koh Chang.

Nirvana Beach Resort is situated on the north west of the island and consists of Thai-style detached villas each frontline to the beach or lush gardens. Facilities within the development will be of five-star quality and include swimming pools, restaurants, bars, a Spa, private pier, a salt-water lagoon, watersports facilities and 24-hour security. Property prices start from £275,000 for a one-bedroom sea-view villa with Jacuzzi.

Darran McDermott of Investments Worldwide said: “Thailand offers all the ingredients for a perfect holiday from scenery to beaches, weather to cuisine and a friendly native population for whom hospitality comes naturally. The property market is now exhibiting the same bullish strength as the tourist sector and delivering consistent annual capital growth on good quality developments of between 10 and 15%. Rental yields are also above average at between 8 and 15% per year and out-perform other popular second home markets such as Bulgaria and Cyprus thanks to a year-round season, not just a few busy summer months. Nirvana Beach Resort itself is offering a two year 10% rental guarantee as an acknowledgement of its market confidence.”



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