News
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The Ministry of Transport has published an investment plan for 2022 and a long-term investment plan. One of the key projects is high-speed railways. Currently, it is planned to build roads covering the entire country, with a total length of 1,673 kilometers. The two main projects are a high-speed railway invested by the Thai and Chinese sides and...
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Foreigners are either unwilling or unable to visit the country due to the COVID-19 pandemic and international restrictions. According to local analysts, in 2019, Phuket had the highest number of visitors — 5.3 million. In 2020, after the pandemic outbreak, the number of visitors decreased to 1.1 million — by 80%. The situation worsened in 2021....
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The Ministry of Finance announced that 100% property tax will be levied in Bangkok from 2022. In 2020, due to the outbreak of COVID-19 pandemic, the Ministry gave a 90% discount on real estate tax to owners of both residential and commercial premises. The tax reduction was also in effect in 2021. This led to a significant decrease in cash receipts...
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Market experts have singled out the pandemic with new viruses as risks for the market but have also noted several other factors that may affect the Kingdom’s real estate. The outflow of foreigners, especially Chinese citizens, is the blow to residential and commercial real estate. The situation will not change soon, so the country’s market and...
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The Central Real Estate Information Agency REIC shared figures on Chinese buyers and their impact on the Kingdom’s housing market. In the first nine months of 2021, Chinese nationals purchased about 60% of condominium apartments. Moreover, the buyers were nationals of Vanuatu, the USA, the UK, and France. In the first half of 2021, Chinese...
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The Kingdom’s Cabinet has approved a 10-year visa for foreign investors, highly skilled professionals, and wealthy pensioners. Local experts say that the motivation for new long-term visas is to attract new specialists and foreign capital to the IT sector. This will help prevent the projected labor shortage in this industry. The same experts argue...
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Thai authorities believe that with low demand, local developers will suffer from the expansion of quotas. The Kingdom's economy and its real estate market have always relied on the tourism sector. Housing, hotels, and commercial properties depended on the influx of foreign visitors and buyers into the country. With the record drop in the number...
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The Thai real estate market has set a course for recovery. The reason for this was the government's measures to stimulate and restore the economy, such as the recent reduction of bank commissions to 0.1% for mortgages until December 31, 2022. Utai Utaysansuk, Chief Executive Officer of the Operations Department of Sansiri Public Company Limited or...
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The Bank of Thailand stands its ground that it will not support cryptocurrency or digital money to pay for goods and services in many areas. The reason for this is high volatility, the risk of cyber theft, and the potential risk of money laundering. Despite this, the real estate market considers blockchain technologies in housing purchase and sale...
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In 2022, PPREB will increase revenue by 20% compared to previous years and launch several new projects that will stimulate the recovery of the Thai housing market. Many contractors in the Thai real estate market revived in late 2021 and early 2022 and began planning new projects, but many of them have not yet recovered from the impact of the...
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