In a market full of speculation about what changes are coming and when, the fact of the matter is that, at present, nothing has actually changed. Legally, there have been proposals to make certain alterations to the Foreign Business Act, leaseholds, condominium ownership and also the taxation laws surrounding real-estate. Changes are expected in these areas. But, regardless of any steps that are taken in anticipation of the changes, no one really knows at the moment what the final outcome will be, or when it will happen.

The general feeling is that any amendments to current legislation will result in the clarification of previously confusing issues. And hopefully, any new laws will be less open to misinterpretation. As for the timing, it seems highly unlikely that much will happen until after the general election, and even then the probabilities are that the new government will take some time to settle in before making any sweeping changes.

In the meantime buyer confidence has been knocked and fewer houses are currently being sold on Samui than in the last few years. But there are significant signs that things are still looking good for the future. And for an increasing number of investors the uncertainty is providing a very interesting opportunity.

Sellers are obviously more aware than anyone of the downturn in buyer activity. And therefore prices have become more flexible to encourage interest. Buyers are in a very strong position as there are definitely more properties available than buyers willing to make a purchase.

So, whilst it’s understandable that some people want to wait for clarification on the law, others have realised that all the signs are that, once clarified, the property market will go through a period of resurgence. And that means a further increase in demand, and therefore in value.

The island has an undoubtedly bright future as a tourist destination. New hotel groups and businesses continue to arrive. And it is tourists that fall in love with the island and buy homes here. Alternatively, investors acquire properties to satisfy the need of the constant flow of visitors. For years now it’s been both real-estate and tourism that have supported the island’s economy. Everyone on Samui is employed in, or benefits from, these two industries. And, as long as the tourists keep coming, there’ll always be a thriving Samui property market.

The time is right for those willing to take a chance on the market recovering. There’s certainly no suggestion that the real-estate industry on the island is over. It’s never even been implied that this situation will be a long-term problem; proposals have gone past the initial stages and are on the table to be considered once an election has taken place. So any changes should occur in a relatively short time.

Another confidence boost for buyers is the fact that the proposed changes have included procedures for existing owners to conform to any changes. Amnesty periods have been suggested to give current owners time to make legal amendments to their circumstances. No one has ever stated that anyone in breach of a newly-instated law would be immediately punished. So, whatever the final changes are, people will have time to become legal again, if necessary.

This present situation can work for all investors. If you’re a single person looking for an apartment; a young family hoping to make a new start; or retired and looking for a tropical environment to relax in and enjoy, then you’ll have a budget that will match your circumstances. If you consider the evidence that the island will continue to develop and attract more tourists, then you’ll probably also be confident that the market will recover and property values will rise. A new and improved airport, new hotels and so on will help support this theory, and lessen any potential risks of buying. So, if you were to buy now and, if necessary, make any legal alterations after the law changes, then you could probably get a lot more for your money than if you wait for everything to be sorted out first. Not only is it likely that prices will then rise dramatically, but the increase in buyer confidence will also lead to greater competition and it will switch back to being a sellers’ market.

Bigger investors have sensed this and they too are seeking to take advantage. You could argue that a big corporation can afford to take the risk and potentially lose out financially. However, it could also be argued that the bigger the corporation the less likely they are to be wrong. And, from a reputation perspective, the risk for them can be just as big. Take Karma for example, a very successful international company which has high quality resorts around the world, and a very highly respected reputation of picking the best locations for its investments. Karma is actively seeking failed or suspended projects on Samui, and in the rest of Thailand, to snap up, complete, and then profit when the market picks up again. And Karma isn’t alone; there have been a number of other large international organisations eyeing Samui for the same reasons.

Buying a property anywhere in the world presents an element of risk. In fact, just about every investment comes with the possibility of failure – otherwise we would all be millionaires! But the difference here is that the surrounding factors which minimise any such risk. Even in a time of uncertainty over the law and possible changes, the reality is that people will always want to live, or invest, on Samui. Of all the areas in the Kingdom, Samui attracts a disproportionately high share of residents and investors.

Nothing has changed yet and, even when it does, the basic principle that people will want to live on a relaxed tropical island with improving facilities; all the conveniences one needs; stunning natural beauty; and a great climate will never be affected.

So, if you want to buy a home on Samui, you can. Whether you buy now, or wait for the dust to settle, is a personal choice. And the only person who’ll be affected by that choice will be you.