Thailand is among the top 5 resort destinations in the world, and real estate in Thailand is in constant demand among investors. Nowadays, foreign nationals choose the country as their main place of residence as Thailand makes it possible to buy an inexpensive residence in a paradise with a sea view. The acceptable visa conditions also ensure Thai real estate is more investment-attractive.
The most popular regions amongst foreigners are also the most expensive to buy a home. These are the islands of Phuket and Koh Samui, the capital of Bangkok and the royal residence of Hua Hin, as well as Pattaya, located on the coast and beloved by tourists.
Content:
Before describing each district in detail, here are the average prices for apartments in each area at the beginning of 2023.
| The area | An average cost per m2 | The range of prices for apartments |
|---|---|---|
| Bangkok | $4,250 | $41,290−14,864,573 |
| Phuket | $2,576 | $30,586−4,991,876 |
| Hua Hin | $1,872 | $68,817−1,272,481 |
| Pattaya | $1,590 | $18,237−10,704,939 |
| Koh Samui | $834 | $54,308−1,281,381 |
Phuket
Real estate in Phuket is the dream of many wealthy people. The amenities of this resort town include an international airport and everything needed for a comfortable modern life, i.e. international schools, kindergartens, hospitals, entertainment venues and beautiful beaches.
The real estate on the island is located on the coast, as there’s a nature reserve in the central part where it’s impossible to build housing. There are numerous private houses in Phuket. The island offers villas for sale in Thailand for $122,000. This will be a modern house with 3 bedrooms, a swimming pool and a plot of 108 m2.
There are also ultra-luxury apartments on the island. E.g., At the end of February 2023, the housing market put up for sale the most expensive 4-bedroom villa, with a plot of over 10,000 m2, for $21.35 million. This house on the hill has a beautiful sea view and is surrounded by lush green areas. Moreover, the beach is within walking distance. You can also find luxury real estate in Phuket on the first line by the sea.
Here, you can purchase elite apartments, e.g., a penthouse for $5 million - less than 100 metres from the sea. It’s forbidden to build high-rise houses on the island – the number of floors will not exceed 8. The initial price of an inexpensive 1-bedroom apartment, in a complex with amenities and a swimming pool, is $30,500.
Apartments and villas in Phuket are also highly in demand as investments for a passive income. Foreigners buy apartments or villas, as well as hotel-serviced properties. In the latter case, the hotel management company maintains the property, and the owner profits from the rent. In recent years, branded real estate (larger than a hotel), has become increasingly popular among investors.
The residential properties on the island are getting more expensive every year, as there’s a limited number of land plots in Phuket. Consequently, investors can, in the future, also receive income from the resale of housing.
Koh Samui
Koh Samui is the second largest island in Thailand after Phuket. There’s also an international airport here, offering flights within the country and to the nearest states. There’s less infrastructure on the island than in Phuket. However, Koh Samui is perfect for those appreciating privacy and want to enjoy pristine nature. The main part of the island is a mountainous area that turns into snow-white sandy beaches and groves of coconut palms.
On Koh Samui, you can pick up a beautiful villa. The most expensive property for sale is a 5-bedroom villa with a giant swimming pool, luxurious furniture and a magnificent view from the windows. A golf course is nearby, and the airport is a 15-minute drive away. The cost of this mansion is slightly over $9.15 million.
Prices for the low-cost townhouses and villas on Koh Samui start at about $67,000. E.g., in February 2023, a 2-bedroom townhouse of 94 m2 could be bought for $67,288.
Nowadays, the island offers over 100 apartment options in low-rise buildings located a minute's walk from the beach. Their cost starts at $ 54,308 per property. This is a studio of 25.9 m2 in a complex with amenities. The maximum price for apartments in Koh Samui reaches $1.2 million. This is the value of a spacious leasehold residence in an elite residential complex in the central part of the island.
Hua Hin
The small coastal town of Hua Hin on the mainland has a calm rhythm of life. The nearby international airport provides access to the resort. Hua Hin attracts families as there’s no nightlife in the city. However, residents can enjoy a wide range of entertainment during the day and a good social infrastructure. The city offers residents a 5 km long beach with snow-white sand.
The local residential complexes are 7-storey. There are few of them here, and they are brand-new, as they were built a few years ago. The initial price of apartments in Hua Hin is $68,800 for a 42 m2 apartment with 1 bedroom. Real estate prices reach $1.2 million on the coast. This is the value of a luxury 3-bedroom apartment with the cleanest beach nearby.
As for the villas, it’s possible to pick up a house for $45,000 or more. This is the price for a 2-bedroom apartment in a townhouse complex. The most expensive mansion in Hua Hin in February 2023 costs $2.4 million. This is a 200 m2 house with 4 bedrooms and panoramic windows overlooking the sea.
Bangkok
The capital of Thailand has 2 international airports. City life is rich in various amenities and entertainment for every taste. Bangkok is actively developing: skyscrapers and office centres are being built, and many foreign freelancers choose this city to live in. In 2022, Bangkok entered the top 10 cities worldwide for ex-pats.
The capital can offer luxurious options when it comes to apartments, penthouses or duplexes. In February 2023, Bangkok put up for sale several thousand residences, with 400 luxurious options priced from $1 million. Foreign nationals can purchase apartments in Thailand, in its capital, for $41,000. With this amount, they can buy a 1-bedroom studio of 38 m2. The most expensive real estate option in Bangkok in the first quarter of 2023 costs $14.8 million. This two-storey penthouse with 4 bedrooms, a terrace and a beautiful city view, and the Chau Phraya River, is located in the central part of the city.
Bangkok also offers for sale a house for 1 family, although the choice is limited. The cost of houses in the capital starts at $88,500 for a modern 2-bedroom townhouse and reaches $6.25 million for a 4-bedroom house of 2,376 m2.
Pattaya
If we compare real estate by the cost of a square metre, prices in Pattaya are lower than in other places of our choice. However, it cannot be ignored in this review, as it also sells luxury residences that are highly in demand.
You can buy a modest home in the city for $45,878. This is the value of a 100 m2 house with 2 bedrooms. However, wealthy citizens can choose a completely different property. So, there are several dozen properties for $1 million or more. The most expensive villa in Pattaya costs $11.78 million and is an author's 5-bedroom mansion of 2,900 m2, located on the coast.
There are numerous apartments in Pattaya, including brand-new luxury mid-rise residential complexes and skyscrapers. Apartments in the city cost from $18,300 for a 26 m2 studio. The most expensive property is a two-storey penthouse of 1,260 m2 with 7 bedrooms, a spacious private terrace and a private pool in a luxury residential complex, a 5-minute drive from the beach.
