Buying property overseas is one of the biggest investments many foreigners make. Before you buy assets in a developing market, you must do thorough research and understand what you can expect from the market in the coming years.
Thailand is undoubtedly one of the most popular choices foreigners have when buying property overseas. In this article, I will explain what our predictions are for Thailand’s property market in 2020.
Topics covered in this article:
- Thailand’s Property Market in Previous Years
- Pattaya’s Property Market
- Bangkok’s Property Market
- Chiang Mai’s Property Market
- How will Thailand’s property market perform in 2020?
- Are there any other positive aspects of investing in Thai property?
- New Property Projects in Bangkok
- Thailand’s Demographic Issues
Thailand’s Property Market in Previous Years
Thailand’s property market has been in a slow but consistent upward trend for over a decade now. The main reason is the increasing number of foreigners that visit and live in Thailand.
Around 88,000 foreigners applied for work permits in Q2 2018 in Bangkok alone and the number continues to rise. To put it in some context, in Q1 2015, 78,000 foreigners applied for work permits. That’s an increase of 10,000 expats per quarter, or 40,000 yearly.
A better economic outlook, higher take-up, and occupancy rates have resulted in this upward trend. Still, the market performance differs much between cities.
For example, Bangkok and Chiang Mai have experienced higher growths, while places like Cha Am, Hua Hin, Khao Yai, and Pranburi have seen slower growth, or even stagnated. Continue reading Thailand Property Market Outlook 2020: A Complete Overview