After the foreign land ownership idea was withdrawn, the Thailand property market anticipated that increased uncertainty would attract wealthy foreigners, especially those from the US, Myanmar, Canada, and Saudi Arabia, to invest property abroad and not invest property in Thailand.
The foreign land ownership is about foreign investment into property in Thailand or Bangkok or any of the top regions in Thailand. Foreigners who visit Thailand frequently, fall in love with the country. Thailand has a decent standard of living, good public transportation, in a strategic location of Southeast Asia, fast internet connection, and more. There are various reasons for foreigners from the US, Europe, Middle East, and Asia to invest in Thailand properties.
The US, Myanmar, and Canada nationals, according to Artitaya Kasemlawan, head of residential sales for project, advice, and transaction services at real estate consultant CBRE Thailand, were active buyers in the luxury market condo in Thailand segment.
American buyers of Thai real estate continued to dominate, she said. But following the pandemic, active American purchasers switched from conducting business abroad to doing business domestically.
On the other hand Myanmar are active buyers in Thailand due the political crisis going on in the country. Myanmar citizens are active buyers for condos for sale in Bangkok and mainly in the mid-market. In all kind of condo segment, Asia market is open to trendy and stylish condos in Bangkok. Even pet-friendly condos in Bangkok and Pattaya main buyers are from China.
She claimed that these buyers were familiar with Thailand’s surroundings and condominiums. Before opting to purchase a property, they had taken multiple vacations to the nation. They spend approximately $100 million on property on average in Thailand.
CBRE observed an increase in demand for condos costing 50 million baht or more during the third quarter of this year.
Canadians, according to her, were also active buyers this year. They did represent the largest foreign buyer group in Phuket through CBRE, purchasing both condominiums and villas.
“Buyers from European nations have returned, including those from Scandinavia, the UK, and Russia, as Thailand continues to be a popular destination for …