Chiang Mai
Chiang Mai is a part of North Thailand and is a place worth investing in. The main reason people resort to investing in real estate in Chiang Mai is its low cost of housing. With the right money, you can easily buy a luxurious apartment around the city or perhaps a home, with garden in the suburbs of Chiang Mai.
However, it is important that you approach the right real estate agents for help in choosing the real estate for your investment sakes. This is because there are many agents here that take advantage of the fact that foreigners are not aware of the real estate rates of Chiang Mai. These agents dupe the foreigners into paying more than they should for the real estate. Foreigners also end up fighting over clauses in their contracts relating to terms of payment and upkeep of the property. The internet provides information on the reliable real estate agents that can be confronted for real estate dealings in Chiang Mai.
The most common areas foreigners invest in are the western parts of Chiang Mai, near the mountains. Even the areas near Nimminhemin Avenue, Huay Kaew and Central Mall are areas that are more in demand amongst foreigners. Some people invest in moo baans, the housing villages of Chiang Mai where you can find modern, well kept and comfortable houses for investment. However, you may not get the privacy you were looking for in Chiang Mai over here.
There are many foreigners who prefer owning condos here, though it is better to invest in houses with gardens with the availability of land here on the rise. These condos may have noisy neighbors, but offer great sceneries for you to spend time relaxing and admiring. There are even some condo townships having gyms, pools and cable TV connections. Basically, foreigners are not allowed to own land in Chiang Mai, or in any part of Thailand, for that matter. However, it is permissible to invest in apartments in buildings where majority stakes in the building is from a Thai. This proves to be a safer and more popular option for foreigners, and with the real estate prices in Chiang Mai on the rise, it proves to be a profit making investment.
In fact, it is estimated that property prices in Chiang Mai have a 10 percent increase every year. However, it is advised to do some research on the management of the apartment building before investing in it. This helps you to make sure that the building is legal and property documents are in order. Thailand is famous for the issuing of bogus and scam property papers; so look into this matter before making any investment.
However, if you have a Thai spouse, it is possible to invest in property in Thailand. It is also possible to lease property here for a period of 30 years. This lease term can be extended for another 30 years on termination of the period. With a Thai spouse, the land has to be bought in the name of the spouse, while declaring that the investment is from the spouse. However, in case of divorce, or the death of the spouse, it proves to be difficult to reclaim this property Chiang Mai to your name.
However, it is important that you approach the right real estate agents for help in choosing the real estate for your investment sakes. This is because there are many agents here that take advantage of the fact that foreigners are not aware of the real estate rates of Chiang Mai. These agents dupe the foreigners into paying more than they should for the real estate. Foreigners also end up fighting over clauses in their contracts relating to terms of payment and upkeep of the property. The internet provides information on the reliable real estate agents that can be confronted for real estate dealings in Chiang Mai.
The most common areas foreigners invest in are the western parts of Chiang Mai, near the mountains. Even the areas near Nimminhemin Avenue, Huay Kaew and Central Mall are areas that are more in demand amongst foreigners. Some people invest in moo baans, the housing villages of Chiang Mai where you can find modern, well kept and comfortable houses for investment. However, you may not get the privacy you were looking for in Chiang Mai over here.
There are many foreigners who prefer owning condos here, though it is better to invest in houses with gardens with the availability of land here on the rise. These condos may have noisy neighbors, but offer great sceneries for you to spend time relaxing and admiring. There are even some condo townships having gyms, pools and cable TV connections. Basically, foreigners are not allowed to own land in Chiang Mai, or in any part of Thailand, for that matter. However, it is permissible to invest in apartments in buildings where majority stakes in the building is from a Thai. This proves to be a safer and more popular option for foreigners, and with the real estate prices in Chiang Mai on the rise, it proves to be a profit making investment.
In fact, it is estimated that property prices in Chiang Mai have a 10 percent increase every year. However, it is advised to do some research on the management of the apartment building before investing in it. This helps you to make sure that the building is legal and property documents are in order. Thailand is famous for the issuing of bogus and scam property papers; so look into this matter before making any investment.
However, if you have a Thai spouse, it is possible to invest in property in Thailand. It is also possible to lease property here for a period of 30 years. This lease term can be extended for another 30 years on termination of the period. With a Thai spouse, the land has to be bought in the name of the spouse, while declaring that the investment is from the spouse. However, in case of divorce, or the death of the spouse, it proves to be difficult to reclaim this property Chiang Mai to your name.
posted by JP | 10:57 AM
1 Comments:
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