The economic slowdown and increasing inflation and interest rates prevented a complete recovery in Thailand’s real estate market in 2022. It hasn’t helped that there’s been fighting in Ukraine. The rebound was not as strong as it might have been, but things look suitable for 2023.
The current reading of 47.9 on Thailand’s Consumer Confidence Index indicates a return to spending optimism for Thai consumers for the first time in 20 years. The easing of lending requirements by the Bank of Thailand, which is about to expire, has prompted clients with a genuine interest in real estate to make purchases.
In addition, this need is absent in significant tourist hotspots. Homebuyers in Thailand continue to prioritize Bangkok over all other cities. This is followed by Nonthaburi, Samui Prakan, Pathum Thani, and Chon Buri. Chiang Mai, Prachuab Khiri Khan, and Phuket, all popular tourist destinations, ranked sixth, seventh, and eighth, respectively.
Bangkok’s rail connections to Greater Bangkok have made the areas around the city more appealing to potential homebuyers (Nonthaburi and Pathum Thani). Because of its convenient access to the city’s other parts, Suan Luang in Bangkok’s eastern half has become the city’s most desirable locale. In the middle of the year, the Yellow line (Lad Phrao-Samrong) is expected to open to the public. Both the Airport Rail Link and the Eastern Railway go through the neighborhood.
The inner city is no longer one of the best places to purchase a property in Bangkok because of the sky-high costs and limited availability of properties there. Bangchak in Bangna, Khlong Tan Nuea in Wattana, and Lad Phrao are among the best places to visit in Thailand after Suan Luang.
Condos in Khong Tan Nuea are the best in Thailand, says ThaiPBSWorld. Although Bangchak is the most popular place to rent in Bangkok because of its proximity to the BTS Skytrain, there are still reasonably priced condominiums and flats available.
Burmese nationals made the top 10 for the first time last year, coming in at number 7. Chinese purchasers dominated condo transfers despite travel restrictions on the mainland.
According to Karlo Pobre, managing director of CIM Property Consultants Co in Yangon,…
For example, “There are three main reasons why many households in Myanmar have decided to buy second houses in Thailand. Money might be saved and invested for future use. Thirdly, to spend it on their children’s future education and improved health care.
From 30 units in all of 2021, 188 condominiums were transferred to persons from Myanmar in the first nine months of 2022. Most people who bought vacation houses in Thailand chose Bangkok.
