Country Article / Postcards
Long Live the King
Date: 07/23/2005
Dear International Living Reader,
Earlier this month I was in Thailand, scouting opportunities for my Global Real Estate Investor group.
This country is much improved since my last visit two years ago. The local economy is doing better, infrastructure is improving, and communications, in some areas, are excellent. Expats, businessmen, and real estate professionals I spoke with are agreed: Thailand is open for business.
An attorney I met who works with real estate developments told me "it's easy to make money in real estate anywhere in this country."
I'm not as bullish as that, but you will find opportunity in Thailand no matter what type of real estate interests you: hotel development, raw land, a condo to live in, condo developments to invest in, city apartments, beachfront retreats, apartments for rental return or for a holiday home...
But the area I'm most interested in right now is Hua Hin, a growing local beach resort town on the west coast of the Gulf of Thailand, about three hours from Bangkok. There is a lot of building going on here. Some foreigners are investing in real estate, but it is mostly the destination for rich Thais coming from Bangkok.
The King of Thailand has a palace in Hua Hin and has taken up residence here full-time, since he finds the air in Bangkok so disagreeable to his health. For his 80th birthday (two years from now), the government has committed to improving the infrastructure in and around Hua Hin. The travel time from Bangkok will be reduced with improved train and road access; the highway is already being widened in some areas.
This could be the start of an early-in trend (see The Next Big Thing for more on identifying and profiting from local trends.)
In addition to two long beaches, the city has five golf courses with two more less than an hour away and several others planned or under way.
Yet real estate prices in Hua Hin ($1,200 per square meter) are no more expensive than sleazy tourist hangout Pattaya--described by IL's roving editor Steenie Harvey as "a sea of bars and brothels."
Where would you rather put your money?
Lief Simon
Real Estate Editor, International Living
P.S. International Living's first-ever Thailand Tour is scheduled for September 9-16. You'll find out why so many like-minded individuals have chosen to make a home...and make money...in Thailand. You'll learn how best to live and invest in this astonishingly affordable Land of Smiles. You'll discover real estate secrets (yes, you can own property here), learn how easy it can be to start a profitable business, and get the lowdown on how the well-positioned investor in Thailand can benefit from the China boom. For full details, read more here.
Rate this Postcard:
Rating: /5 ( votes cast)