Thai real estate deemed as one of the most promising markets in Southeast Asia

Investors are already gearing up and preparing for future transactions in the kingdom 

Wat Non Kum in Nakhon Ratchasima, Thailand. apiguide/Shutterstock

Like any other real estate market around the globe, the COVID-19 pandemic has caused real estate activity in Thailand to significantly drop, but investors believe that the market sentiment will cool down soon, which is why they have already started to prepare for future investments in one of the most promising markets in Southeast Asia. 

Before the onset of the pandemic, Business News Asia revealed that these investors expected a five to seven percent growth in 2020, particularly because the kingdom is renowned for being a tourist hub and a thriving centre for manufacturing activity, making it a popular real estate investment hotspot.

By the end of 2019, real estate consultancy CBRE predicted promising future for Thailand’s real estate in 2020, thanks to the rising investment in lifestyle real estate and the growing attention given to cutting-edge facilities such as automation. 

But since the outbreak, investors had to postpone making big purchases and foreigners who owned resorts found their properties difficult to maintain during the economic climate, which led to several of them pulling out of the market and closing up shops. 

More: Thailand sets smart cities in motion in the ASEAN region

Despite this gloomy market update, experts foresee that the economy will soon bounce back, driven by investment flux from Chinese and European investors. “Foreigners who are looking to buy a property in Koh Samui, Bangkok, or Pattaya in Thailand, will find many interesting opportunities to make the right investment,” added Business News Asia.

Since international tourism will remain at a standstill for several months or even a year, experts noted that most of the major investments will be focused on lifestyle condominium apartment segments that can also serve as a permanent residence. 

As Thailand’s real estate market slowly overcomes the impact of the pandemic, winning developers of the 14th PropertyGuru Thailand Property Awards 2019, including Best Developer Siamese Asset Co., Ltd. And Best Boutique Developer Habitat Group Co., Ltdwill definitely have something to look forward to in the near future. 

Winners of the upcoming 15th Thailand Property Awards will be presented on 20 November 2020 via an exclusive gala dinner. To find out which developers or projects will receive our prestigious titles, visit asiapropertyawards.com/en/award/thailand-property-awards/.