The Thailand real estate market as compared to other Asian capitals such as Hongkong and Singapore is fundamentally different. Thailand is driven by domestic demand and a thriving economy. Hongkong and Singapore are developed from former colonial cities and they are now major international and regional trading centers looked on as icons by emerging South East Asia’s market, according to CBRE Thailand CEO David Simister.

Simister said the breakdown between domestic and foreign buyers in the residential sector is over 80 percent of buyers are Thais. Although there is a significant foreign interest, the rise in value is still driven by domestic prosperity.

Simister’s future outlook for Thailand’s real estate market remains positive saying Thailand is a base of excellence. He said although time and management are the two major improvements that need to be made to build a stronger real estate market in Thailand, generally Thailand is just going up. “We are in a reasonably weak global economy, but Thailand is taking up more of its share” Simister said.

Foreign real estate buyers interested in acquiring ownership of any Thailand property may need to consult a Thailand real estate attorney concerning the legalities of buying a property inThailand.

Related Documents:

Thailand Land Code

Buying Land and Property in Thailand

According to a recent report in The Nation, there are a number of economic bubbles that pose a danger to the Thai economy, one of which is in real estate.  Other bubbles noted include: artificial demand for automobiles created through credit easing; higher salary scales of government officials and increased mortgage lending for first time home buyers.

However, according to a differing report in the Bangkok Post,Thailand real estate prices are set to rise. Further, the Bangkok Post article claimed that the Thai real estate industry is experiencing healthy growth and there is consumer demand in all regions and with many properties already available for rent or for sale in 2012, the number is set to rise this year with more properties in the pipeline for launch by big and small developers.

Caution and obtaining assistance from qualified attorneys is important when dealing with the Thai real estate market. The law firm of Chaninat and Leeds has recently published the English translation of the “Thailand Land Code , which comprises the full text of an Act on Ministerial regulations prescribing the rules, procedures and conditions of land acquisition for residential purposes by foreigners. For those seeking information of condominium purchase, Chaninat and Leeds also published the complete English translation of the “Thailand Condominium Act”.

 Related Articles:

• Buying a Condominium in Thailand
• Thailand’s Condominium Bubble a Reality or Myth