Deputy Managing Director for Commercial Operations of Visa Group Co., Ltd. said that after the government opened up the country, lifted restrictions and lowered interest rates on lending, the market started to recover. In particular, a set of these measures helped stimulate the Thai economy.
According to preliminary forecasts of the Real Estate Information Center (REIC) and the Housing Bank of Thailand (GHB), the real estate sector will return to normal life by 2023. The situation in the Phuket real estate market has also begun to improve thanks to the launch of the Phuket Sandbox program. However, the recovery remains very slow, and more detailed forecasts will only be possible in early 2022. According to preliminary estimates, the Thai housing sector will return to its previous state by 2025-2027.