The Thai real estate market is very familiar to international buyers as many have invested in the country recently. This is a trend that could continue for years to come due to a number of reasons, according to Sansiri’s Global Luxury Property Market Research 2017 report.
“For international real estate buyers and investors, Thailand has all the same favourable fundamentals as other major real estate markets around the world – the geographic location as the gateway to Asean, readiness of transportation infrastructure for both living and investment in diversified industries as well as the high number of real estate on offer in the market. More importantly, Thai property law has provisions that do not allow foreigners to buy and own freehold land. Bangkok is also the capital with high demand and supply for real estate among major cities in the Asean region,” says Uthai Uthaisangsuk, Senior Executive Vice President at the Business Development and Project Development Division of Sansiri.
The country has enormous potential and remains attractive to international investors with the report finding property prices in the world’s top real estate markets, such as the US, UK and Hong Kong, are 2 to 6 times more expensive than Thailand. In particular, the high-end segment has the best prospects with growing demand and price aligned with the country’s advancing economic competitiveness.
“Purchasing super luxury property at a prime location is a popular investment alternative of ultra-high net worth individuals [UNHWIs]. Normally UNHWI investors, both in Thailand and overseas, prefer property investment in world-famous cities due to their remarkably high capital gains rate,” says Uthai to the Nation.
Superluxury property in prime location is significantly cheaper in Bangkok than other major cities in Asia and other parts of the world. In addition to this, units for luxury condos in Thailand tend to be bigger than in cities such as New York and London making them more attractive to international buyers.
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