As first-time investors in overseas property, price is not the only factor that buyers need to consider before taking the first step. We take a look at the many considerations that go into buying investment property in Thailand.
Buying property has long been considered to be one of the safest ways to secure long-term investments, due to its low-risk and volatility. The promise of high returns on investment (ROI) through capital appreciation and rental yields make it one of the most popular investments in the market today.
However, there are many factors that buyers, especially overseas investors, need to consider to ensure that their returns are maximised.
Importance of Engaging an Agent
The world of property investment can be daunting especially for first-time buyers, due to the wealth of information that they will have to sift through. Speaking to experts will help buyers reduce the overall stress as good property agents will be able to identify the best property for your needs and wants. Going straight to the property developer’s agents will also give buyers the added advantage of exclusive promotions, as well as getting the latest updates on regulations, processes and other important information.
Do Thorough Research
Investors should definitely do their own research, and not rely solely on their property agents for all the information. In addition to considering both the short-term and long-term market conditions, they should also study the real estate potential of the location that they want to invest in, such as potential rental yields, capital gains, average prices and market demand of prices in the location. Buyers should also do their homework on the best financing options available for their needs, especially for those investing overseas, as it will have a direct impact on the returns on their investment.
Have a Clearly-Defined Budget
It is important for investors to consider their budget and financing options, and plan for rainy day situations such as a loss of job, recession etc. with an emergency fund. The global economic slowdown brought about by the COVID-19 pandemic showed that many investors were left in lurch because they lost their main source of income and were not able to finance their investment due to poor planning. By having a clearly defined budget that takes into worst-case scenarios, investors will be able to quickly filter out properties that they cannot afford, making their search a more straightforward one.
Price is not Everything
That said, price should not be the only consideration when choosing your property. If investors are buying property as a long-term investment, they should consider its future potential when calculating returns. Buyers should do their research on the upcoming development plans the government has for the area or city they are planning to invest in e.g. upgrading transport infrastructure, family-friendly amenities, introduction of foreign visas etc.
Read the Contract Carefully
A common mistake that investors make is not reading and understanding all the terms in their purchase contract. Taxes, renovation periods, rental conditions, additional costs are just some of the terms and conditions that developers can spell out in the purchase contract. It is important to speak to experts (local property agents or lawyers) to get a deeper understanding of the contract and its important details before signing it.
Inspect Your Purchase
As with any new purchase, it is important for buyers to conduct a thorough inspection, especially for properties that have been bought off-plan. This will ensure that buyers would not have to spend extra to fix any defects. Overseas investors have also been known to engage local, third-party property inspectors to conduct these inspections, before the transfer is made from developer to buyer.
Have a Property Management Plan
Property management is another often overlooked aspect of owning investment property. From regular maintenance issues to tenant management, home owners need to have a comprehensive plan to take care of their property after purchase. Overseas property investors have it slightly tougher, as flying down to the property regularly can be tough and expensive. Engaging property developers’ comprehensive after-sales services will help to ensure that the property is well-taken care of when investors are overseas. Developers like SC Asset also have dedicated mobile apps that give homeowners real-time updates and notifications on administrative matters such as outstanding payments, repairs, tenant management etc.
Drop us a line if you’re thinking about taking that first step into investing in Thai property, and we will be with you every step of the way.
Thank you for contacting us, we will get back to you as soon as we can.
For the company to collect, process or use your personal data for the purposes as follows:
Communication and provision of various information relating to products and services of the Company and offer of any projects in which customers may be interested
Preparation of marketing plan and analysis, process, development and improvement of products and services of the Company
Transmission of information to any third party or business alliance of the Company in relation to products and/or services of the Company
This policy shall be used for personal data protection for clients of SC ASSET Corporation Public Company Limited and its affiliated companies (the "Company") which you provide personal data through online and offline channel such as site visit, website, mobile application, social media (“Platform”), allowing you to search for, visit, use products and services of the Company and/or its business partners such as:
Residential projects, i.e. condominiums, detached houses, townhouses, commercial buildings and other projects.
Baan RueJai Application by SC Asset.
News and promotions of products and services.
Any operation regarding products and services.
Before you use this website, please read the terms and conditions and the Privacy Policy for personal data protection. If you do not accept these terms and conditions and Privacy Policy for personal data protection in this website, we would like you to stop using this website immediately, and your continuing use of website will indicate your consent to the terms and conditions and Privacy Policy for personal data protection of the Company as follows:
"Personal Data" means personal information that enables an individual to be identified, whether directly or indirectly.
"Cookies" means information that is sent from a website to each visitor’s computer while accessing such website.
2. Personal Data collection
2.1 The Company will collect your Personal Data that the Company received whether directly or indirectly which consists of;
Personal data such as name, last name, gender, age, nationality, date of birth, marital status, address, occupation, place of work, postal code, email address, telephone number, credit card, personal income, car that you are driving.
Data on your interests such as products and services, hobbies, social networking activities, sports, travelling, etc.
Data on your decision whether or not to choose products and services, such as reason of purchase or selection of residence, budget, purpose, other products that are used for comparison, comments and site visit information regarding products and services.
Data that specifies your location while using the website. If you enable the GPS system, you consent the Company to collect and process your location information. However, if you would like to conceal this information, you can install programs or turn off GPS on your mobile phone.
Information searching behavior on website where the Company will use cookies as a tool to collect data such as:
Necessary information to be provided to the Company and the Company is entitled to process such personal data as stipulated by law without consent as follows:
Data to be provided for complying law or performance or execution of a contract or other data as stipulated by law. If you do not give your personal data, the Company may not be able to proceed with such action requested by you or as the Company informs you or other consequences pursuant to the applicable law.
Data that is necessary for any lawful interest such as the collection of photo from the Company’s activities and etc.
Other Personal Data subject to your prior consent
2.2 The Company will collect your Personal Data only as necessary or for the purpose of collection and in accordance with the law. However the Company may collect and anonymise any data.
In case you access to the website or advertisement which are not operated by the Company, the privacy policy on personal data will be governed by the one of that website, for which the Company shall not be held responsible.
2.3 Method of Personal Data Collection
through the Company’s channel, e.g. electronic means, documentation, verbally, depending on circumstances etc.;
or through channel of the Company’s business partner / other service providers, e.g. Facebook, Instagram, Twitter, Tiktok, Line, etc., for the purpose of creation of your profile or agent. or
2.4 Children
The Company has no intention to collect any Personal Data of a child whose age is less than that stipulated by law (the “Age Limit”). If you are younger than that of the Age Limit, please do not use the service of the Company or give any Personal Data to the Company.
In the event that you are a parent of a child whose age is less than the Age Limit and is aware that your child is giving Personal Data to the Company, please contact the Company and you may request to exercise your right instead.
In the even that you are a child of age that is less than the Age Limit and need to receive services and products of the Company, you are required to have a consent of your parent in place for the provision of your Personal Data.
3. Purpose of collection / use / disclosure of the Personal Data
4.Potential Receivers of Your Personal Data
4.1 The Company, business partners of the Company or any employee of relevant companies.
4.2 Agents of the Company who has been authorized to offer and sell the Company’s products and services, including agent or person hired by such person.
4.3 Other persons, including agent or person hired by such person who is arranging in connection with the Company’s products and services, the conduct of the marketing activities, the offer of the Company’s information, the development of the Company’s products and services, e.g. payment method, documentation system, technology, delivery of documents, research, etc.
4.4 Any governmental authority or supervision organization or any person to which the Company is required to disclose such data whether by laws, regulations or order in relation to the Company or pursuant to the Company’s agreement with any governmental authority or any other person.
5. Security of Information
6. Owner's rights
7. Marketing Activities and Promotional Activities
In the event that the Company has send any information relation to its marketing activities and promotional activities, including those concerning products, services or any interesting activities and if you have agreed to receive such information but would like to cancel such receipt, you may proceed by Call Center at 1749 .
8. Exceptions to the Confidentiality of Personal Data
Any of the following actions shall not be deemed an offense to the Privacy Policy:
9. Personal Data Retention
The Company will retain your Personal Data only for such period of time as necessary to fulfill the purposes outlined in this Privacy Policy.
10. Changes to our Privacy Policy for personal data protection / Contact of the Company
