You might be aware that real estate is a booming business in Bangkok and getting a home in a prime location can prove to be expensive. Investing in an upcoming project if you plan on purchasing a property is a great way to save on money as you can get properties at a discounted price.
The Pre-sale and Flip Strategy
When it comes to properties, you cannot blindly purchase one. You need to do your research. There are many real estate companies such as Homeday headquartered in Nonthaburi, Thailand that give a genuine home review (รีวิวบ้าน, term in Thai) of the properties you wish to purchase.
They even have upcoming properties listed on their website wherein you can click on the same and get detailed information on the same. Here you will be able to see the number of units available, the project type, starting price, and the project highlights.
The “Pre-sale and Flip Strategy” is a common method applied by many investors to make a quick profit. The process is quite simple. You invest in an upcoming project property, pay 20 – 30% of the total price of the condo for a few years and then re-sell the same for a profit.
The balance amount of the condo will be paid by the buyer who has purchased your condo. The added benefit here is that you are waived off from government sales taxes.
You need to sign a contract with the buyer stating that you would be transferring the condo in their name. If you are the buyer, then you might need to ensure that the agreement is genuine. You can have the contract vetted with the developer’s legal team to check if all the conditions are in place before signing the agreement.
If you are a foreign national, then you need to pay the full price of the condo as per the Thai Foreign Exchange Laws. The amount that has already been paid by the seller will be refunded to your account.
Ensure that you proceed cautiously when it comes to any type of properties that come under the pre-sale and flip strategy. This is a high-risk investment and if all goes as per planning, you can be assured of higher returns.
Bangkok – The Booming City for Real Estates
If you have already visited Bangkok, you would already be known what a cool place it is. There is never a dull moment in Bangkok. The city is lively and is popular for its nightlife. Many expats plan to settle in this city due to its work-life balance.
The reasons why you need to invest in properties in Bangkok include:
- Bangkok has many upcoming projects near BTS and MRT system making it easier for you to commute to places
- You can purchase a property and rent it out for personal or commercial purposes
- If you are a foreigner, you can directly purchase a condo without any restrictions
- All residential projects in Bangkok come with modern facilities like car parks, gyms, and swimming pools
You can invest in any property that you want, provided you know your budget. Secondly, you need to go through credible real estate companies that are well versed with properties in and around Bangkok.