Thailand, “the land of the free”, is quickly becoming the next big thing for overseas property investors and those seeking a destination property, a developer says.

Cashing in on the popularity of the Southeast Nation’s beaches, nightlife and weather, a Vancouver-based company is planning to attract Canadian and American real estate dabblers to Thailand.

“Boomers from Japan, Korea, China and Europe are flocking to Southeast Asia. The resorts there are ideal holiday destinations and the spectacular real estate is the resort buyers’ idea of paradise,” says Sid Landolt, President of S&P Destination Properties. “Our goal is to take our design, marketing and sales expertise into these markets and Thailand is our first choice.”

Good weather and affordable property is making Thailand an attractive place to buy property overseas, he said.

“The low cost of living and a good selection of direct flights takes the sting out of the distance. Thailand is a country that seems to tick all of the right boxes for the overseas property buyer.”

The real estate firm founded in 2004 in Vancouver opened a corporate office in Bangkok, its first outside North America recently.

S&P will work in partnership with Destination Properties of Thailand to service the growing demand for resort real estate in Southeast Asia.

Its first project is the 358-room golf resort Doubletree Gold Resort and Spa in Chon Buri’s Si Racha district.

The company also has four projects under contract in Hua Hin, Phuket, Ko Samui and Krabi.

“In every market, the strategy of S&P Destination Properties is to offer the world’s finest real estate to those who appreciate the experiences that come with ownership,” said Landolt. “Given that we can now offer title insurance, American-style mortgages and five-star real estate, Thailand is a natural market for us to grow into.”

He said fine resort properties offered investors a handsome return on investment, as well as the chance to stay in highly attractive properties. He added that this type of investment was popular in North America, where the company’s headquarters had pioneered the concept and now had a strong market foothold.

The Thai Government recently presented an attractive option for ownership of Thai property by foreigners called the Vacation Investment Program.

While companies like S&P are singing the praises of the residential property market in Asia, a recent report by the Global Property Guide is not that optimistic.

“Asian real estate markets would have been stronger had it not been for government mistakes,” says Prince Cruz, chief economist for the Global Property Guide. “If it is not a coup, a protest rally or runaway inflation, then it is government meddling in the housing markets that has killed performance”.

Cruz’s study points to the housing markets of Singapore, Hong Kong and South Korea as victims of government subsidies and intervention, while the housing markets of the Philippines, Indonesia and Thailand have suffered from political instability.

“There have been few less profitable investments than Asian residential property over the past decade,” says Matthew Montagu-Pollock, publisher of the Global Property Guide.

“And if the present construction boom continues across Asia, the next decade isn’t going to be much fun for property investors either.”

Meanwhile, Thailand was recently named “The Best Country Brand” in terms of value for money in a global study by FutureBrand, a global brand consultancy. The study involved a survey of more than 1,500 international travellers, travel industry  experts, and hospitality professionals as part of a broader Country Brand Index.

Tourism Authority of Thailand Deputy Governor for Marketing Communications, Mr.Suraphon Svetasreni said, “It is heartening to see that Thailand has such a high level of recognition in one of the most important decision-making criteria for global travellers.”

More than 1,500 people from around the world took part in the survey in which the criteria included both practical needs (safety, value for the money, ability to easily communicate, proximity and weather) and experiential wants (natural beauty, authenticity, art/culture, lodging and resort options, and outdoor activities).