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Planning to sell overseas property in Thailand in 2020? Is this the right time to be selling overseas property in Thailand? Read on!
State of the Overseas Property Market in Thailand in 2020
Thailand is a top overseas property destination, hugely popular with international property investors, especially from China.
The Thai economy was in the middle of a recession until recently, but has somewhat recovered from that. The property market in Thailand has always been insulated from the mainstream economy, but this is still good news.
Also, politically Thailand is more stable than before. The government has acted strongly against Islamist terrorism which at one stage looked to disturb peace in the region.
For sure, there has always been a major interest in overseas properties in Thailand from British, American, Scandinavian and Australian buyers – but not the kind we see from wealthy Chinese investors.
Chinese buyers are the biggest investors in the Thai overseas property market, and it is easy to see why. Thailand is China’s neighbour and there are many cultural similarities between the two countries.
Chinese buyers feel right at home in Thailand, which is why it figures high among the top 10 overseas property destinations favoured by wealthy Chinese investors in 2019.
There is a particularly high demand for second homes in places like Phuket and Bangkok. Bangkok, as everyone knows, is the most famous holiday spot in Asia, and one of the most popular tourist destinations in the world. Every year, you have millions of foreign tourists visiting Bangkok, looking for fun and excitement and perhaps a hint of mischief.
Phuket is totally different from Bangkok – less raucous, less noise, less crowded, and not as many nightclubs! It is a peaceful and tranquil region, surrounded by natural beauty, and home to a large expat population. Phuket has emerged as a top overseas property destination, even more popular than Bangkok, and attracts a large crowd of digital nomads or people who travel and work out of their laptop.
Things You Should Know About Selling Your Overseas Property in Thailand in 2020
A typical overseas property in the Thailand should fetch anything from $50,000 to $250,000 depending on factors such as location, availability of modern amenities and distance from the nearest markets, restaurants, beaches, etc.
But if you really want to sell your overseas property in Thailand fast in 2020, then your best bet is to get in touch with a wealthy Chinese buyer. These are serious cash rich buyers, who are more than happy to pay in full and in cash for your house. They don’t take too long to decide whether they want to buy or not.
However, you cannot really expect a local Thai estate agent to put you in touch with such high net worth buyers from China, or for that matter from Europe, Australia and the rest of Asia.
You should, in fact, get in touch with an overseas property expert. An overseas property specialist is a high-profile estate agent who has connections with wealthy buyers from China, Russia and other emerging economies.
They know how to market your property online and offline and promote it effectively in order to catch the attention of the right buyer, someone who will pay good money for your overseas home in Thailand.