According to official data for 9 months of 2023, foreign demand for real estate continues to grow in Thailand.
Chinese and Singaporean investors have been very active in the Thai real estate market since the beginning of the 2000s, and a sharp increase in demand from home buyers from Russia occurred in 2022, when, against the backdrop of sanctions, Russians sought to protect their capital and were looking for alternatives to resort real estate in Europe.
Housing in Thailand remains in demand among relocants. In 2019, about 12% of buyers planned to move to Thailand, and in 2023 - about 10%. At the same time, over the same period, the number of clients who choose Thai real estate for rent, but do not rule out moving in the future and are preparing an “alternate airfield” for their family, has increased from 3% to 12%.
According to the results of 9 months of 2023, citizens of Taiwan increased their investments in Thai housing more actively than other foreigners - the number of apartment purchases from them increased by 182% compared to the same period last year. Next in the ranking are:
— citizens of Russia (increase by 129%);
- citizens of Myanmar (increase by 85%);
— France (63%);
— Germany (48%).
According to Tranio data for 11 months of 2023, the median budget of Russians’ applications for the purchase of real estate (apartments, villas and hotel units) in Thailand was about $150 thousand. The most expensive apartments were bought by citizens of Myanmar, whose average purchase budget exceeded $188 thousand.
By the end of 2023, Thailand had established itself among the top three countries most in demand among Russian real estate buyers. At the same time, over the past year, Russian demand in the Thai market has increased by 37%.
