Property and real estate in Thailand has been ranked in first place in the annual HSBC Expat Explorer Survey 2015, a global report looking at the best places in the world for expatriates to live and work.
Although ranking in 21st place overall of the 39 surveyed countries, where Singapore topped the overall list for the best place to live and work, property in Thailand was ranked as the best in the world of the survey countries in this annual report.
The report noted: “Thailand is renowned for its low cost of living. It came out as one of the best destinations for expats looking for an improved lifestyle at a low cost in the 2015 Expat Explorer Survey, with over two-thirds of expats saying they associate Thailand with a higher quality of life and have greater levels of disposable income.
“Thailand is renowned for its low cost of living. Although prices for everyday items are rising, most expats still describe their financial circumstances as comfortable. Grocery shopping is cheap, as are restaurant meals and street food. Clothing, transport and accommodation costs are also low.”
Highlighting the real estate sector in the Kingdom, the report said It’s difficult to buy property in Thailand, but the country has a vigorous rental market so expatriates will be spoiled for choice whatever their budget.
In terms of types of accommodation, it reported there’s a diverse range of property available in Thailand, from studio apartments to serviced condominiums, luxury villas to bamboo beach bungalows.
It added that most expats heading for Bangkok choose serviced apartments in the city’s business district, close to the skytrain, metro and nightlife. Families may prefer a suburban townhouse near an international school. Retirees are often drawn to the tranquility of an island villa or a traditional home in the quiet north of the country.
In terms of renting property in Thailand, the report said that most Thai properties are let furnished so expats should ask for an inventory to be signed before moving in. While renting, expats have to pay for things like phone lines, Internet, water and electricity separately.
“Letting agents and landlords in Thailand expect a deposit of two or three months’ rent. You’ll also be asked to sign a contract of between three- and six-months. You’ll need your passport, a copy of your work permit and proof of income to apply for a long-term rental,” is said.
Dean Blackburn, Head of HSBC Expat, said: “Living abroad allows people to realise a whole range of ambitions. Learning new skills, enjoying a different culture or growing closer to loved ones through a shared adventure. These are just some of the rewards expats tell us they have enjoyed through their time in another country.
“As global mobility continues to increase, expat life is more attainable than ever before.
“Expats need services that keep up with their changing needs, as managing money overseas remains a challenge. Indeed, 74 percent tell us their finances have become more complex in some way since moving, which highlights the value of seeking help with this aspect of life.”
The Expat Explorer survey was completed by 21,950 expats from 198 countries through an online questionnaire in March, April and May 2015.
A minimum country sample of 100 expat respondents and at least 30 expat parents is required for that country to be included in the league tables in this report. In this edition of Expat Explorer, 39 countries qualified for those league tables.
https://www.expatexplorer.hsbc.com/
