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ResourcesThailand Real Estate & Property LawConveyancing and Property TransferBuying Thai Property in the Aftermath of Coronavirus (COVID-19)

Buying Thai Property in the Aftermath of Coronavirus (COVID-19)

Transcript of the above video:

We are making this video in the midst of the COVID-19 outbreak and I am making it at a time that would seem sort of counterintuitive to think about these things but to me it makes sense.

My job generally speaking, consists of looking at the worst-case scenarios. When we are dealing with our clients we try to apprise them of exactly what they are getting into or what they are dealing with and what the possible worst-case outcomes could be in whatever their endeavor is.  That being stated, at the same time I tend to kind of be a contrarian as well so while all this Coronavirus stuff is going on and while this outbreak is upon us and we are dealing with the sort of lockdown for lack of better term and everyone is sheltering in place here in Thailand, I have thinking about what happens when this is over. Because this is going to end. Coronavirus (COVID-19) is not going to last forever. This too shall pass, as they say.

Well what are we going to do after that? One thing that I really thought about is the Thai property market is going to be ripe for some major bargains in the aftermath of this and those who are interested in enjoying Thai property, for example long-term leases in Thailand, I suspect commercial property in Thailand is going to be something that will be very lucrative if one is looking at a “buy cheap and go long” kind of perspective; I think the Thai property market is going to be something to  really look into it in the aftermath of this.

Those who are looking into getting into Thai property, it is a good idea to contact a legal professional to do the requisite due diligence on the property in question be it Thai real estate, a Thai condominium or some other type of property including like a long term lease, a commercial lease, perhaps a commercial property, property in the industrial estates here in Thailand; any of these types of things. It is a good idea to conduct due diligence. It is a good idea to have legal advice and advisory services in order to fully ascertain the benefits and the obligations associated with the Thai property in question and understand exactly what one is buying. It is not uncommon for certain type of property rights to be held in a corporation, in a Thai company, and under those circumstances we oftentimes see situations where people buy into those types of entities and they don't really understand exactly what they are getting into and that can lead to real problems for those folks down the road. 

So, the thing to take away from this video in my opinion is, Yes, there could be serious bargains to be had in the Thai property market especially in the latter half of 2020 here in Thailand but it is not a terrible idea to conduct property diligence and have solid legal advisory services so as to best ascertain the benefits one is getting when purchasing property rights here in the Kingdom of Thailand.