Real estate in Thailand fell a little during the pandemic, but it has risen in price again over the past year and a half. Many foreign nationals are thinking about buying a home in this country. What houses and apartments in Thailand can you purchase for $1 million in 2023?
- Sought-after locations
- What to buy in Thailand in 2023?
- The cost of real estate in Thailand in 2023
- What influences prices?
These are the three most popular places for buyers and tenants of houses in Thailand:
- Phuket, developing beach tourism;
- Pattaya, a resort with excellent infrastructure;
- Bangkok, the capital of the country.
Both apartments and villas in 2023 remain popular with overseas investors in Thai real estate. Residential real estate is suitable for permanent residence, recreation and rental. Apartments are most popular with those who plan to live or set up a rental business in Bangkok, while villas, particularly in Phuket and other seaside locations, are best for lovers of a resort lifestyle.
The quarantine made people in many countries stay at home for a long time. During that period, they realized how difficult it was to live in their apartments. That is why many people began to think about moving to a house with its own land plot, where it would be possible to go out even under the strictest bans. Villas with private courtyards provide this opportunity.
In addition, villas in Thailand are growing in price faster than apartments. The cost of houses with sea views in the country is growing significantly. An important point is the sea view from the house on the first line. Villas and apartments with partial sea views will fall in price in 2023. A partial view of nature means that the sea and coastline are blocked by other real estate. When selling a house with a partial view of the seashore, discounts in the Kingdom can reach 40%. It is profitable for buyers who purchase housing for themselves and are not going to resell it. Investors making money on resale should only consider buildings on the shore or hills that offer endless sea views.
Real estate in Thailand grew in price in the first three quarters of 2022, but some of its types became cheaper at the end of the year. Nevertheless, experts expect further growth in housing prices in 2023 primarily through the return of foreign investors and the rise in the cost of construction materials.
For $1 million, you can buy a property of over 100 m2 with several bedrooms and bathrooms in various locations of Thailand. Here are examples of up-to-date prices at the beginning of 2023.
- A 161 m2 apartment with three bedrooms and two bathrooms in Khlong Tan Nuea, Bangkok, costs $1,049,000.
- 122 m2 apartments with one bedroom and two bathrooms are put up for sale there for $1,270,000.
- A residence with three bedrooms and three bathrooms in Watthana, Bangkok, can be bought for $1,120,000.
- A 221 m2 apartment with two bedrooms and two bathrooms in Cherngtalay, Phuket, is for sale for $1 million.
- A 195 m2 residence with three bedrooms and three bathrooms, located 150 meters from the seashore in Cherngtalay, Phuket, can be bought for $1 million.
It happens that the price of duplexes of the same area differs by several tens of thousands of dollars: the distance of the house from the sea or the center of the settlement affects the cost. Bangkok offers to buy duplexes for $1 million or more. In other locations of Thailand, duplexes are several times cheaper. Take a closer look at some duplexes that are for sale right away in Bangkok.
- A 445 m2 duplex with three bedrooms and three bathrooms in Khlong Tan Nuea costs $1,205,000.
- A 138 m2 duplex with one bedroom and two bathrooms in Watthana is for sale for $1,300,000.
- A 342 m2 duplex with three bedrooms and three bathrooms in Watthana can be purchased for $1,120,000.
- A 150 m2 duplex with three bedrooms and four bathrooms in Khlong Tan Nuea costs $1,034,000.
- A 242 m2 penthouse with three bedrooms and three bathrooms in Khlong Toei, Bangkok, is put up for sale for $1,160,000.
- A 355 m2 penthouse with four bedrooms and three bathrooms in Yan Nawa, Bangkok, costs $1,167,000.
- A 267 m2 penthouse with three bedrooms and four bathrooms in Watthana, Bangkok, can be bought for $1,120,000.
- A 110 m2 penthouse with three bedrooms and four bathrooms in Khlong Toei, Bangkok, is for sale for $1,115,000.
- A 474 m2 penthouse with three bedrooms and five bathrooms in Khlong Toei, Bangkok, costs $1,063,000.
- A 218 m2 penthouse with three bedrooms and two bathrooms in Jomtien, Pattaya, can be bought for $800,000.
You can find condominiums in Thailand of different sizes for $1 million.
- A 285 m2 residence with two bedrooms and two bathrooms in Angsana Residences, Amphoe Thalang, the north of Phuket, costs $1,150,000.
- A 507 m2 condominium with three bedrooms and four bathrooms in Isola Phuket, Thalang, the north of Phuket, is put up for sale for $1,140,000.
- A 229 m2 condominium with two bedrooms and two bathrooms in Angsana Residences, Amphoe Thalang, the north of Phuket, 150 meters from the sea, can be purchased for $1,100,000.
- A 600 m2 residence with four bedrooms and five bathrooms in Botanica Bangtao Beach, Thalang, Phuket, costs $1,034,000.
- A 295 m2 property with four bedrooms and four bathrooms in The Exclusive Sky, the Kathu area of Phuket, can be purchased for $1,022,000.
- A 238 m2 condominium with three bedrooms and three bathrooms in Na Kluea, the northern part of Pattaya, is for sale for $1,180,000.
- A 174 m2 condominium with three bedrooms and three bathrooms in Na Kluea, Pattaya, costs $1,120,000.
- For a 210 m2 condominium with two bedrooms and two bathrooms in Chateau Dale Thabali, in the Pattaya suburb of Nong Prue, the seller asks for $1,078,000.
- A 400 m2 property with three bedrooms and five bathrooms on the beach, in the Pattaya suburb of Jomtien, can be bought for $1,080,000.
- A 310 m2 residence with two bedrooms and two bathrooms on the beach, in Jomtien, Pattaya, costs $1 million.
- A 190 m2 condominium with one bedroom and two bathrooms in the Chateau Dale Thabali residential complex, in the Pattaya suburb of Nong Prue, can be purchased for $1 million.
- A 115 m2 property with three bedrooms and three bathrooms in Muniq Sukhumvit, Watthana, Bangkok, costs $1,180,000.
The cost of housing in Thailand is influenced by many factors:
- Location. The cost of the property depends on the location. In Thailand, such places as Bangkok, Pattaya and Phuket are the most popular with foreign buyers.
- Area. Real estate with developed infrastructure and beautiful views from the window will cost more than housing in areas, where there is no railway line or metro, few shops, restaurants, schools and so on. The center of Bangkok and developed areas of resort cities are in great demand among investors.
- Apartments in residential complexes with swimming pools, fitness rooms, spas and secured parking are more expensive than apartments without these amenities. This means that the quality of the infrastructure of the residential complex also affects the price of real estate.
- Renovations. If we talk about secondary real estate, then housing with a brand-new stylish renovation is more expensive than real estate in need of repair.
- The total area of the property.
- The property has or does not have furniture, household appliances and plumbing.
In 2023, luxury real estate for $1 million is in high demand in Thailand. You can get acquainted with villas and apartments in Thailand right away. We will help you choose and buy a home in the Kingdom, depending on your requests about the location of the property, its value and other parameters. Contact our specialists in an online chat or leave a request on the website to get answers to all questions about real estate transactions in Thailand.