Thailand

Thai real estate market – Overview

Thailand’s real estate market has suffered a few setbacks, most notably in the 90s with the 1997 financial crisis. Construction boomed before coming to a screeching halt, leaving thousands of m2 unoccupied and owners in debt. The crisis took hold and spread to the countries of Southeast Asia. Even today, the ruins of these unfinished construction sites, known as ghosts, can be seen in Bangkok. Today’s Thailand’s real estate market is still driven by foreign investment, including in the hospitality industry; all the major international hotel groups are represented in Thailand. This is hardly surprising, since tourism is constantly on the rise, with a forecast of 40 million tourists by 2024 according to the TAT (Tourism Authority of Thailand). Since the Covid restrictions, Thailand has been breaking all records, with 4 million tourists in January 2024, confirming the TAT’s goal of recovering 100% of 2019 sales this year. After a forced pause, Thai real estate is showing signs of improvement as early as 2023, with a growing resurgence in tourism and numerous foreign investments from China, America, Singapore , Taiwan , Japan and the UK in particular. Investing in the Thai real estate market is a safe bet, and there’s a wide variety of properties for sale to suit different lifestyles and budgets, from very affordable units to ultra-luxurious properties, as well as real estate investment opportunities :

• Condominiums in Thailand: from studios to spacious 3-bedroom with private pools.
• Villas for sale in Thailand: from semi-detached townhouses to luxury beachfront villas with swimming pools and sea views, or both
• Commercial properties for sale: offices for sale or rent or purchase, mainly in Bangkok.
• Property Investment : real estate investments with a guaranteed return on investment in tourist locations such as Phuket or Pattaya.

Thailand’s real estate market is increasing every year, but remains affordable for the time being. Contact Keller Henson to find the best deal on the market. To find out more about how to buy property in Thailand and the regulations involved, please see our Guide to Buying Real Estate in Thailand.

Condominiums for sale in Thailand

Buying a condominium in Thailand, or a condo in short, is very popular among foreign investors and allows non-residents, thanks to the Condominium Act, to own a property in Thailand in freehold terms, which means in outright ownership. Buying a condominium in Thailand can match different choices : vacations, long-term stays, investments or settling in as an expatriate We list new condominium properties in Thailand offered by leading local and international developers. As an independent real estate agent, we can virtually recommend and assist with the purchase of a condominium from any developer in Thailand. Check all our condominiums for sale inThailand today.

Buying a condominium in Thailand

Once you have a budget and a preferred location in Thailand, you can browse the various condominium projects listed on our website. It’s also advisable to contact a real estate specialist such as Keller Henson for a selection of condominium projects to suit your budget and other requirements. We can advise and recommend cities, neighborhoods and localities in Thailand and guide you through the entire process of buying a condominium, from negotiating the price of the condominium to transferring ownership to the land department.

Villas for sale in Thailand

Buying a villa in Thailand is a life goal for many people looking for a peaceful retirement. Whether you’re looking for a villa for sale with a swimming pool, a villa for sale with a sea view, near the beach, in the hills or in the city (but this is rarer), the number of villas for sale in Thailand is enormous. In Thailand, most villas for sale are part of so-called “villages”, where security, gardening and maintenance are included for your convenience. This can also include a rental management service to let your villa when it’s not occupied. We list all the major new villa projects in Thailand to suit all budgets, many of which are off-plan, and we can help you assess the level of risk and take steps to minimize the associated risks when buying an off-plan villa in Thailand.

Buying a villa in Thailand

Buying a villa in Thailand will most likely take the form of a lease, as Thai law prohibits foreigners from buying land. Lease conditions allow for a renewable period of 30 years. If you have a budget and perhaps a favorite city or island in Thailand in mind, you can browse the various villas for sale listed on our website. It’s also a good idea to get in touch with a real estate specialist like Keller Henson for a selection of villa development projects to suit your budget and personal requirements. We can advise and recommend the best villa projects in Thailand, from negotiating the price and terms of the villa purchase to registering the lease with the land department.

Investing in Thailand

Thailand is undergoing rapid development and has achieved record figures in recent years. With economic growth of 3.9% estimated by the World Bank for 2023, and rates of between 3.4% and 3.6% forecast for 2024 and 2025, Thailand justifies its second place on the Southeast Asian economic ladder.

Off-plan projects in Thailand

Off-plan projects in Thailand are ubiquitous. In general, most popular off-plan projects are sold before the completion date is even close. Buying off-plan condominiums or off-plan villas is a good way to save money and get pre-sales prices, up to 25% cheaper than the average market with flexible payment terms over the course of the construction, and allows for potential capital gains over the years. There’s always some associated risks when buying Off plan in Thailand, Keller Henson is here to help you invest safely in an off-plan project in Thailand, from checking the developer’s background with due diligence to monitoring and handing over the property with a professional inspection.

Rental programs in Thailand

Thailand is home to major international hotel groups, particularly in Phuket and Pattaya, highly tourist destinations that attract many foreign visitors. New hotels are constantly being developed on these islands to increase the country’s overall tourism capacity. Hotel developers offer individual investors the opportunity to purchase a property within the hotel complex; they benefit from an annual return on investment and a certain number of days’ use of the unit. The rest of the time, the unit is used as a hotel room. Conditions vary considerably depending on the offer. Some promoters offer a guaranteed income per year, averaging 5-8%. This means you get a guaranteed annual return based on the unit’s purchase price. Others offer a pooled rental program in which income is shared and redistributed among owners on an equal proportional basis.