Property in Thailand
When investing in real estate it is obvious that you want the best deal possible. Searching for various discounts is one of the ways to make your deal quite profitable. So if you have been looking for property for sale in Bangkok, check out the sales first, and maybe you will find the offer that will suit you. Are discounts always a guarantee of a seller’s reliability? Is it possible to get an installment plan or is cash back more profitable? How to start paying back real estate even before the end of construction and what “goodies” you can count on – about this in our article.
Types of discounts
Everyone loves discounts. But, are they always justified and speak of the reliability of the seller? Everything depends on the situation. Consider different scenarios:
· Discounts at the construction stage
When a developer buys land, develops a project and submits documents for obtaining permits, he already starts pre-sales at the lowest prices. At this stage, the most profitable deals are made and each agent has several clients waiting for such offers. Purchase decisions are made quickly, sometimes such transactions are carried out remotely.
Buying at the initial stage of construction will provide you with the minimum price and maximum installment payments until the end of construction. You will be able to choose an apartment or villa with the best layout and views, which will make it easier for you to rent or resell.
In addition, you will significantly increase your rental income, because the management company rents the same apartments at the same price and divides the profit equally among the owners. But with respect to a neighbor who bought the same apartment more expensive, as a percentage of the invested funds, you will earn more!
· Post construction discounts
By the end of construction, real estate prices usually rise by 30-40%. In complexes with an excellent location from large reliable developers, everything is already sold out at this stage. But it happens that some more apartments remain and the developer is ready to sell them at a good discount, because usually at this time he already opens sales in a new project.
This is especially suitable for those who want to buy a ready-made home, where they can live and receive rental income immediately, but do not want to overpay.
· Low season discounts
Bangkok and Phuket are highly seasonal. Usually from June to September the number of visitors is reduced and the activity in real estate transactions is reduced as well. To attract customers, developers often offer discounts on some properties. At this point, they are especially interested in buyers and are more flexible than ever.
· Discounts when paying the entire amount before the end of construction
There are situations when a client chooses a project under construction that suits him in all respects. In this case, payment must occur according to the payment schedule for the stages of construction.
But few people know that if you can pay the entire amount at once, you can get a significant discount from the developer. Some developers are even willing to offer custom payment plans tailored to your needs.
· Discounts when buying several apartments at once
Usually, when buying several apartments at once, the developer is also ready to discuss discounts. Some developers even have special ready-made offers for large investors. It all depends on the amount of the transaction.
Today in Thailand it is very difficult to get a mortgage for a foreigner. But when buying an off-plan property, you get an interest-free installment plan until the end of construction. In addition, there are developers who provide additional financing.
For example, you can pay 50% of the cost until the end of construction, use your home personally or receive rental income, continuing to pay the remaining 50% for the next 3-5 years at a rate of 5-7% per annum. This funding is provided by the developer.
Real estate in Thailand
Thailand-Real.Estate provides you with a catalog of the real estate in Thailand. Decide on your requirements and the website will help you find a property that will meet all of them.