The current outlook in Thailand’s economy isn’t as positive as it once was. With the recent problems in Thailand and the fact that the new prime minister is going to be decided on by the military means that the property market is somewhat unstable.
However, Thailand is such a beautiful country and it still remains as popular as ever with tourists and ex-pats, which means real estate in the country should at least be relatively stable and not subject to too much volatility.
While the property market has been slowing somewhat, it’s not actually in decline. It’s only growing at a slower rate than in the past, so Thailand, especially koh samui remains a great place to buy real estate in. You can find the absolute best holiday accommodation in ko samui if you’re going to travel there to determine the current state of the economy yourself.
Thai developers remain extremely optimistic about the future of the property market in the country, and the major players are still investing heavily into property development, so we take that as a very positive sign. If the largest developers are still positive about the future, then we believe that’s a good enough indicator that Thailand is still a lucrative country for property.
There are a couple of changes to the building tax law in Thailand that you should be aware of too. The first is that there’s a change in how you go about a cost approach assessment and the second is that the tax is levied based on the land its self.
With the new way of doing things the tax is calculated from the appraisal of the property which is determined from the total price of the building and land prices, which are set by the government.