Real estate markets all over the world experience a turbulent period and it’s difficult to say what the end result will be in the coming months. It mainly comes down to how long lockdowns will be in place and for how long countries will keep their borders closed.
The Thai property market started to slow down in 2019 and the market was predicted to continue on that track even before the COVID-19 crisis started. Many homeowners will face challenges, at the same time as novice investors will look for a discounted property.
To keep you updated about the real estate market in Thailand during these uncertain times, we’ve written this article and where we will share updates weekly.
Thailand reported 11 new cases and no new deaths on May 28, bringing its total to 3,065.
The ban on Incoming International Flights remains until June 30. My personal guess is that this will be extended and travelers will have issues visiting Thailand for months to come. Maybe the government will select certain areas where travelers will be allowed to visit, yet, screening and checks will be implemented.
Thailand only had 3 new cases on May 21st, bringing the total number of affected to 3,037. The death toll remains at 56.
Yet, on May 18th, the Civil Aviation Authority of Thailand (CAAT) extended the ban on Incoming International Flights Until June 30th.
Thai Airways suffer hard and the government will reduce holdings in the airline and petition for restructuring through the bankruptcy court.
On May 13th, the government reported no new corona cases in Thailand. On May 14th, the country recorded one new case.
Emergency Decree remains until May 31st. This means that unless you meet certain criteria, you’ll be denied to enter Thailand as a foreigner.
Thailand saw 3 new coronavirus cases and a total of 2,992 as of 2020-05-07, according to senior officials.
The country has started to gradually lift restrictions as of Sunday, May 3rd. People are visiting parks, get haircuts at salons, and dine out for the first time in more than a month.
Thailand’s Property Market in the Past Years
Increasingly more foreigners, particularly from mainland China and Hong Kong, have entered the Thai property market during the last decade. The real estate market has grown slowly but consistently, breaking new record-levels in Bangkok. Continue reading COVID-19’s Impact on Thailand’s Real Estate Market