Foreigners are often told they cannot own land in Thailand, which is true to some extend. However, there are ways that foreigners can set up a company thorough which to buy and own land. This setup is perfectly legal and used in many parts of the kingdom. Foreigners can also own land and property through renewable 30 year lease structures, a method proving particularly popular in popular tourist areas, where villas and holiday homes are now widely available.
As the tourism industry on Koh Phangan has matured and seen growth, especially the high end of the market, more and more investors are looking to buy land, build property and own their own piece of paradise. As a result, there is an increasing amount of land for sale on the island and professional agents like Koh Phangan Holiday Homes are extending their services on the island to cater for the demand.
Before buying a piece of land on Koh Phangan or anywhere else in Thailand, buyers should take care to conduct due diligence and familiarise themselves with the local laws and regulations. Having a clear strategy for the land will also make a potential investment less risky. Is the purchase made for pure investment and capital appreciation, or will there be a development on the land? In the latter case, what kind of development? For villa purposes, land with sea views is the most popular, while for hotels and especially resorts, beach access is paramount.
The areas around Had Rin have typically been popular for tourist-related development such as restaurants and resorts due to the full moon party, which attracts thousands of people and dictates demand in that area. However, prices have skyrocket there and very little good land remains for sale. Most investors find the better option is to move north and opt for more affordable, yet no less popular locations such as those around Chaloklum on the north side of the island, Haad Yao on the west coast, or Tong Nai Pan on the east side of the island, commanding exceptional sunsets.
With the support and advice of a professional, well established agent like Koh Phangan Holiday Homes, long term investors and short term guests looking for rental properties can source the best land and properties, safe in the knowledge that their investment or rental expenditure will bring a rewarding, enjoyable and in the case of land purchases, profitable return.