In the period from the fourth quarter of 2022 to the first quarter of 2023, the real estate market in Thailand was actively developing. Purchasing power has also increased. Sales of condominiums in Phuket, luxury housing in Bangkok and its surroundings have increased. At the same time, there are many buyers from Europe and China in Phuket.
There are all prerequisites for the fact that the housing market in Thailand in 2023 will remain affordable, and prices will be equivalent to last year's figures. In Phuket, foreigners were most interested in houses as vacation homes. Condominiums were especially popular. Many clients preferred to buy ready-to-move projects in order to rent them out. It is established that the profit from renting out amounted to about 8-10% per year.
Prices for condominiums in the IV quarter of last year decreased slightly in all areas - on average, by 0.29%. As for villas as an elite segment of housing, they were also in fairly high demand.
It is worth noting that the return of Europeans has a positive effect on the real estate market in Thailand. In Phuket, the most popular destinations remain Kata, Karon, Laguna, Cherng Talai do Nai Thon. Europeans usually prefer to wait out the winter there.