From June 1, Thailand will be fully open to tourists, Thai Pass system will be canceled. The level of COVID-19 continued to decline, all this will lead to a full recovery of the real estate market and the economy of the country as a whole.
The government is discussing possible options for attracting foreign capital to stimulate the economy. The possibility of attracting foreign buyers with the opportunity to obtain a residence permit or a green card for the purchase of real estate is being considered.
Previously, investors could get Thai Elite Visa with the need to renew it every 10 years, which did not particularly attract foreigners. The long-term possibility of foreigners living in the country will bring income and revive the economy. At the moment, new customers are emerging from India and Arab countries. While Chinese buyers have not yet returned to the market. The number of foreign buyers has been extremely low for 2 years.
Thai Condominium Association states that one of the strategies to stimulate the real estate market, in particular the condominium market and the real estate market in the resort area, is to attract foreign buyers by providing them with a residence permit or a green card.