The relationship of the condominium real estate market with foreign consumers is determined by two factors: the arrival of foreign tourists (rental housing) and money from foreign direct investment (FDI) (purchase of housing).
TOP-5 countries from where tourists come to Thailand now: Malaysia, India, Laos, Singapore and Vietnam. Which is very different from the period before COVID-19, when the main tourists were Chinese citizens.
As for the FDI index in 2022, it was found that over a 9-month period it amounted to 275,651 billion baht. The main countries that invested in Thailand in 2022: China 59%, Russia 5%, USA 3%, UK 3% and Germany 2%. Chinese citizens bought real estate in Thailand for almost 15 billion baht in the 3rd quarter. The average purchase price is 5 million baht.
In addition, if you look at the change in the dollar and the baht, the strength of the dollar generates purchasing power. Get a discount when buying real estate Thailand now about 10%.
As for the area of condominiums owned by foreigners across the country, it was found that Bangkok was the main location, followed by Chonburi, Chiang Mai, Phuket, Samut Prakan and Prachuap Khiri Khan.
The real estate information Agency reveals the factors influencing the choice of Thailand for foreigners to invest: the low cost of medical care, condominiums offer all the conditions necessary for a comfortable life. There are 6 international airports in Thailand. Electric trains run on routes all over the country.
Apartment prices vary from district to district – which can provide demand from foreign investors with different budgets.
Foreigners are attracted by real estate prices in Thailand. For example, in Hong Kong, real estate is 2.5 times more expensive than a house in Thailand.