Thailand's real estate market is waiting for a new wave of Asian investments, experts from Singapore believe. In particular, we should expect investments from China - their flow will grow as the Chinese economy recovers after the shocks of the pandemic.
Before the coronavirus threat, Thailand was the most popular destination in Asia for investors from China. For example, in 2019, out of 13,000 apartments sold to foreigners, 55% were purchased by Chinese citizens. Such data was collected by Thailand's Real Estate Information Center (REIC).
In the period from Q1 to Q3 2022, despite the incomplete recovery of the Chinese economy after the pandemic, investors from China made 49% of all transactions involving foreigners totaling $511 million.
Analysts note that investors from other countries should invest before air traffic between China and Thailand returns to the pre-pandemic level. Along with the recovery of Chinese demand for real estate in Thailand, prices in the market will also increase significantly.
It is not yet clear when the economies of both countries will recover 100%. According to experts, despite the positive trends, a full recovery and a return to pre-pandemic indicators will occur only by 2024.