Knight Frank real estate consulting agency shared analytics on the Southeast Asian countries.
While Singapore and Vietnam are recovering, Thailand, Malaysia, and the Philippines are struggling with the effects of the pandemic and worsening crisis trends.
The Kingdom of Thailand, the region's second-largest economy, will have to rely on domestic consumer demand in the coming years.
The population is aging rapidly, the birth rate is falling, and the young and able-bodied population is becoming unemployed. With low incomes, unemployment undermines the cost of labor in the country.
Returning to the topic of real estate in Thailand, you can pay attention to Bangkok as an example. The apartment segment in the capital of the Kingdom is having difficulty finding buyers. There are not enough foreign consumers and investors to meet the supply. The consumer postpones or refuses to buy or rent a new home, at least this year.
Thailand is a market of buyers, not sellers. It makes sense to enter the market, but those who have assets in real estate should hold them for the next few years.