Now is as good as any.
Prices are on the move, more and more people coming to Krabi to call this place home and there seems no shortage of new faces in this nature lovers paradise.
With the bigger brother and sister to Krabi being Phuket and Koh Samui one can see the potential for Krabi and where it can go if given the space and permission. Krabi still has yet to let itself run as its full fledged neighbours but it has seen it’s fare share of growth over the past 10 years. and it seems like the growth has only just started.
Hotels are shooting up in every plot of vacant land you can find but they all seem to be packed as soon as they open their doors. Restaurants are constantly opening new venues and sister branches, growing and expending their reach. Overall Krabi is booming and it doesn’t seem like it’s going to stop anytime soon.
Although the main beach front plots throughout Krabi are sporting some price tags many of us cannot stomach but there are a great number of land plots slightly removed form the beachfront and which offer stunning views and great investment opportunities.
If your interested in investing there are some things you should know about buying and selling before you start going down this road.
As a foreigner, Thailand tries to restrict foreigners directly owning land outright, (which is a good thing if you ask me). There is not really an option for foreigners to outright have their name on title land deeds, instead they must only rent the land from a Thai national for a period of 30 years (which can be renewed 2 additional times, giving a lease term of 90 years). There is another option and they is to set up a company which has a 51% majority of Thai shareholders, but foreigners can still be appointed to being the companies director and therefore having the vast majority of the power and direction of the company. Land can be purchased under a company such as this.
The last and final option for property ownership in Thailand is through one of the many condominiums throughout the kingdom. In 1979 the kingdom passed a law which allowed the ownership of condominium units for foreigners. Title deeds (Thai ‘Chanote’) can be issued in a foreign national’s name, as long as the total living area of the building is kept (51%) in Thai nationals names. This law has opened the door for numerous investors seeking to dive into a lucrative and growing real estate market in Thailand.
Buying a condominium is the safest and most straight forward means of buying property in Thailand
If you’re interested in buying a condominium or would like to know more we recommend you contact Krabi consultants located in Ao Nang at:
075 695 091
By Christopher Nolan