Real estate market forecasts in Thailand

The real estate market in Thailand continues to attract attention from both local and foreign investors. Considering economic trends, changes in legislation, and the increase in tourist traffic, it is important to consider what forecasts are expected for this market in the coming years.

1. Increase in Housing Demand

With the growing number of expats and tourists, as well as the recovery of the economy after the COVID-19 pandemic, an increase in housing demand is expected, especially in major cities and tourist regions. It is anticipated that:

• Condos and Apartments: The demand for apartments in Bangkok, Pattaya, and Phuket will remain high, especially among young people and professionals working in these areas.
• Villas and Holiday Homes: With more people looking for second homes or investment properties, there is a growing interest in villas and houses in resort areas.

2. Infrastructure Development

The Thai government is actively investing in infrastructure development, which will also positively impact the real estate market. Key projects include:

• Transportation Projects: The construction of new transportation routes and the expansion of existing ones, such as high-speed railways and new airports, will improve accessibility to various regions and increase attractiveness for investors.
• Urban Infrastructure: Improvements in urban infrastructure, including roads, schools, and medical facilities, will lead to rising property prices in the corresponding areas.

3. Tourism and Short-Term Rentals

Tourism, which is one of the main drivers of Thailand's economy, will continue to recover after the pandemic. It is forecasted that:

• Short-Term Rentals: Platforms like Airbnb will continue to grow in popularity, creating opportunities for investors in the short-term rental sector. Tourists will seek unique and convenient places to stay.
• Investments in Hospitality: An increase in tourist traffic will lead to higher demand for hospitality properties, opening new opportunities for investors in the hotel business.

4. Changes in Legislation

In recent years, the Thai government has been implementing reforms aimed at simplifying the process of purchasing real estate for foreigners. It is expected that:

• Streamlining Procedures: Simplifying legal procedures and reducing bureaucratic barriers could attract more foreign investors to the market.
• New Tax Initiatives: Possible changes in tax policy may affect the profitability of real estate investments, which should also be considered when planning investments.

5. Sustainable Development and Ecology

Considering global trends towards sustainable development and ecology, the real estate market in Thailand will also adapt to these changes. It is expected that:

• Energy-Efficient Buildings: Increasing interest in eco-friendly and energy-efficient buildings will contribute to rising prices for such properties.
• Green Spaces: The development of green spaces and parks in cities will become an important factor for buyers and renters, which will also influence the demand for real estate.

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Tatyana Nesterova