Attractive corners of Thailand: The perfect home for dreamers and investors
The key decision of foreigners in buying residential real estate in Thailand is based on many attractive factors. The variety of benefits attract buyers from different countries and create unique living and investment opportunities.
One of the significant motives for choosing Thailand is the low cost of living, delicious cuisine, cordial hospitality and comfortable living conditions. All this makes Thailand an attractive destination for foreigners, and many of them, having already had a positive experience of visiting the country as tourists, decide to stay here for a long term by purchasing their own homes.
In modern times, new factors have been added to the main reasons, further increasing the interest of foreign buyers. These relate to relocation, the provision of competitive education for children and investment prospects.
The increased interest from Russian citizens stands out in particular. Over the past few years, they have become the leading buyers in the Phuket real estate market. Family values are important to Russians, and villas with a pool and two or more bedrooms provide them with their favorite attributes of home comfort. Interest is also driven by the opportunity to provide a good education for children thanks to the variety of international schools on the island.
On the other hand, Chinese buyers hold a significant share of the real estate market in Thailand. Their interest in this country is due to the potential return on investment as well as the availability of smaller properties. Chinese prefer Thailand as a second home after visiting this country as tourists. The main destinations of their interest are Bangkok, Phuket, Pattaya and Chiang Mai.
Chinese: deal leaders
Over the past few years, Chinese investors have taken the lead in the number of real estate deals in Thailand. They account for between 49% and 63% of all transactions, and the reason for this activity is the desire to invest. However, Chinese buyers also show a preference for compact apartments, suggesting that it is more favorable in terms of investment. On average, they buy properties with an area of 39.2 m2, with one property costing around 5.1 million baht.
Tourist areas such as Bangkok, Phuket, Pattaya and Chiang Mai remain the most popular with Chinese investors. Their desire to purchase a second home in Thailand after visiting as a tourist, accounts for the attractiveness of real estate in these regions.
Koreans: new players in the market
Korean investors have also shown significant interest in Thai real estate in recent years. Their share of the market is increasing, and by 2023, they will rank second among foreign buyers. Koreans are also looking for investment opportunities, but the main motives behind their purchases are not only to secure their finances, but also to get medical services in Thailand and provide education for their children.
The average cost of a condominium purchased by Korean buyers is around 6.8 million baht. Their preferences range from sea view condos to modern apartments in urban centers.
Factors affecting the Thai real estate market
In addition to the Chinese and Koreans, other international investors are also influencing the Thai real estate market. The opportunity to buy a second home in a stable and attractive country attracts the interest of wealthy buyers from all over the world who want to secure their finances and get additional opportunities for vacation and investment.
Author of the article: Ekaterina Antonova
