The Covid-19 pandemic has virtually turned the world upside down. The economic forecast is cloudy with little certainty about when it will end and what the world will look like.
Virtually every industry sector has been impacted but few have been hit quite as hard as tourism with international travel at a virtual standstill. Thailand in particular has taken a big hit, along with the buoyant property markets of Phuket and Koh Samui Real Estate whose fortunes are closely linked with Thailand’s tourism success.
Still, even in this uncertain world, every challenge presents a potential opportunity. While many businesses are focused on reducing costs and consolidating, this is arguably the best time to make a play in the real estate market.
Rental revenues have all but dried up for holiday villas right now with deep discounts being offered by motivated sellers. Owners have a valuable real estate asset but they are going unrented. But borders won’t stay closed forever, so astute buyers can drive a hard bargain.
Now is a good time to buy below pre-pandemic market prices and simply wait for prices to rise as the world reopens for business. This will start taking effect once international borders reopen and especially when the Chinese start becoming confident with international travel again. Once that happens you will be sitting pretty with a valuable property asset that continues to rise in value and the opportunity to benefit from a resurgent tourism market through steady holiday rental income.
Property investment in Thailand has always been a safe haven while stocks, bonds and commodity trading can be volatile at any time. It’s a market that has traditionally retained its value well despite various crises over the years, but there are ample opportunity to secure high discounts for luxury villa properties right now. Browse our Covid discount properties in Thailand.
A fundamental difference in the immediate short term is the lack of access to Thailand for prospective buyers with borders closed to all but essential business travel. Still, there are ways to do business by tapping technology.
Virtual property tours are being conducted with potential buyers via Zoom, which is the nearest thing to actually being there. By starting your hunt virtually while stuck at home puts you ahead of the queue for when restrictions ease and Thailand becomes flooded with would-be investors again. Now is the time to score favourable discounts which will surely evaporate once the world gets back to normal.
The pandemic could change the way we live and travel forever. The emergence of remote working is an opportunity for professionals to recalibrate the work-life balance and being able to work offshore away from crowded cities will become appealing for a larger proportion of urban-dwellers around the world.
The space and security of a semi-rural luxury villa in Koh Samui or Phuket offers that peace of mind and a more tempting lifestyle choice.
Remote working is a trend that will likely become the norm for a much larger proportion of the population – opening up a wider pool of long term villa rental customers. You can find a collection of different options for Koh Samui Property for Rent.
For any advice on Real Estate in Koh Samui, feel free to Contact Us!
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