The Motives Behind Overseas Investment in Thai Real Estate
Despite some restrictions on property ownership, Thailand continues to be an appealing location for international property purchasers, particularly those looking for a second home.
The appeal of Thailand’s real estate market is increasing as things begin to normalize and settle in the wake of Covid.
Despite the absence of Chinese purchasers, who played a big role during the 2018-2019 period, sales data from overseas consumers increased significantly for several property developers in the first quarter.
Foreign investors in Thailand’s real estate industry may see increased returns if and when Chinese tourists return to the country.
Attractive features include a low cost of living, tasty food, friendly locals, easy access to other parts of the world, and a unique culture.
Most international buyers of Thai real estate have already visited the country.
Several considerations, such as the ability to invest and provide a better education for one’s children, have been introduced in recent years to entice purchasers from other countries.
Also, in 2022, Russian purchasers surpassed Chinese buyers to become Phuket’s top market for condo transfers, moving up from second place in 2020 and 2021.
Since the beginning of the conflict between Russia and Ukraine in February 2022, the REIC reports, there has been a noticeable increase in property turnover.
After the epidemic, Russians have emerged as the leading purchasers in the Phuket property market, according to Artitaya Kasemlawan, head of residential sales — project, advice, and transaction services at property consultancy CBRE Thailand.
Many parents move their children to Phuket from Hong Kong and Singapore because of the city’s 13 international schools, which offer British, American, and French curricula.
These families were looking for a quieter, safer place to send their kids to school, and they found it in the area’s smaller population.
“This growing trend will fuel real estate transactions in the region.”
In 2015, Phuket was named the “City of Gastronomy” by Unesco because of its large range of restaurants serving a wide diversity of cuisines, from Southern Thai to Hokkien to other traditional Thai worldwide.
Due to COVID-19, The Antares Showflat is open for online bookings. You can now register online to receive direct developer discount offers and prices.