Israeli Real Estate Agency Opens Branch in Thailand
Anglo Saxon, one of Israel's largest real estate agencies, has expanded its operations internationally by opening its first branch in Phuket, Thailand. This strategic move comes as the Thai property market experiences significant growth, particularly in tourist areas like Phuket, Koh Samui, Bangkok, and Pattaya.
Market Growth and Israeli Interest
The Thai real estate market has seen remarkable development, with thousands of residential units under construction in projects targeting Western buyers. Tourism has nearly fully recovered post-pandemic, with approximately 40 million tourists visiting Thailand annually. This has created a growing community of Israeli expatriates and investors in the country.
Eitan Katzaf, Anglo Saxon's franchisee in Thailand, notes that the market is particularly attractive due to its combination of stability, growth potential, and business-friendly environment. "We're seeing significant interest from Israeli investors and families looking to relocate," he says.
Challenges and Considerations
While the Thai market offers opportunities, it also presents unique challenges:
- Complex local regulations regarding foreign land ownership
- Language barriers in property management and negotiations
- Need for thorough legal due diligence
- Active management requirements, especially for short-term rentals
Strategic Expansion
Ron Novotny, CEO of Anglo Saxon, explains the rationale behind the expansion: "In recent years, many Israelis have been purchasing properties abroad, either for relocation or investment purposes. This trend is particularly noticeable in Thailand, and we saw an opportunity to provide Israeli clients with a familiar, trusted partner in navigating the local market."
The company chose Thailand as its first international location due to the growing Israeli community and the potential for future expansion. The branch aims to bridge cultural and regulatory gaps for Israeli investors while providing comprehensive real estate services.
Read the full article on Ynet.