Property prices in Krabi, Thailand
Krabi is a province of Thailand and is located on the Andaman coast. It is an area that is popular with investors who are interested in real estate in Thailand. The province is divided into eight areas. Krabi is the number one destination in Thailand for tourists who want to do rock climbing but are also interested in beach holidays.
The real estate market of Krabi attracts Chinese residents, in particular. They are the most numerous buyers in Krabi, followed by Europeans. Real estate in Krabi attracts foreign citizens with its loyal prices, which are significantly lower than in other Asian cities such as Hong Kong and Singapore. The Central Bank of Thailand says that over 10 years, the real estate prices have increased by 40%. However, due to the 2020 COVID-19 pandemic, real estate prices have decreased by 3.1%. For potential investors, this means there are opportunities to buy apartments in Thailand on more favorable terms, at the moment.
The capital of the province is Krabi Town, where new residential condominiums are located. Active construction is underway in the area of Ao Nang – the most popular, and developed tourist location of Krabi. Real estate for sale in Krabi is represented by houses and villas. The residential condominiums are less common here. In the residential regions of the province, you can also find large houses with spacious rooms, as well as small cozy villas for one to two people.
When buying property in Krabi for foreigners, the pricing policy of Krabi caters for potential buyers who are looking for budget real estate but also those looking for luxury properties. So, on average, Krabi real estate prices 2022 are about THB 4 300 000. If you invest in real estate in Krabi from developers and agencies a sum like this, you can become the owner of good-quality, comfort-class apartments with 70 square meters of living space. In contrast, there are smaller, identical condominiums and townhouses of 30 square meters for THB 1 318 380 - THB 1 753 840. There are also fantastic villas that offer the highest level of comfort and spaciousness. These cost THB 17 538 400. When buying property in Krabi for expats, for example, a villa, you will have an area of 200 square meters and three spacious bedrooms. Very often these properties are sold with top-end designer finishings and impeccable furniture, already in place.
Property for sale in Krabi
Investors in Krabi are most commonly interested in new buildings, as it is more profitable to buy property in Krabi under construction. According to experts, real estate, which is bought during the construction phase, will increase in price by 15-30% through commissioning. The developers in Thailand are happy to meet foreign buyers and will offer a convenient payment system, but you should know that you will not be able to get a mortgage if you are not a Thai citizen.
Investment property in Krabi
Investing in real estate in Krabi is attractive because there is no seasonality: tourists come to this region throughout the year. Besides, Krabi is less noisy than, and not as touristic as Pattaya and Phuket, which is the reason the province is the first choice for winter holidays with family or just a group of friends.
According to the World Bank, at the beginning of 2020, Thailand ranked second in the world, as the most promising country in terms of property investment in Krabi. In the same nomination, Thailand took eighth place. At the end of 2021, it is worth focusing on those data, given that from early 2020, the government has maintained the strictest restrictions in connection with the COVID-19 pandemic. These restrictions have been put in place to protect the citizens of Thailand from the spread of the virus, but have come at the cost of the tourism sector. Nevertheless, it is worth noting that for 5 consecutive years before the pandemic, Thailand broke records for the number of tourists and investors visiting the country annually to make a real estate investment in Krabi, and experts unanimously agree that this trend will begin again once the COVID-restrictions have been removed.
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