"CBRE" believes that the tourism market and the long-stay residential market in 2023 will return to vibrancy from the second quarter until the fourth quarter, boosting foreign demand for luxury residences for long stays. particularly high in the Chinese

"CBRE" looks at real estate in 2023, showing a positive signal after foreign demand to buy properties in Thailand rose from the second quarter to the fourth quarter, especially from the Chinese. Winch to buy a luxury residence pushing up condominium projects, single-detached houses and vacation homes

Ms. Artitaya Kasemlawan, Head of Residential Project Trading Department, CBRE Thailand revealed that Foreigners turn to be interested in buying luxury residences in Thailand. Both condominium projects, detached houses and villas located in prime locations. Since the start of foreign tourists returning to travel in Thailand In the second half of 2022, sales through CBRE exceeded 200-300%.

The project developers are moving to respond to the increasing demand. Prepare to launch many new luxury and super luxury projects in 2023. Especially detached houses. New projects that are about to launch and have a residential project trading department. CBRE represented this year with a total project value of over 15 billion baht.

“According to the analysis of the project data that CBRE represents to manage marketing and sales. From 2022 to early 2023, 89% of people interested in purchasing residential projects from CBRE are Thai and 11% foreigners, with the majority of foreign customers looking for condominiums and houses coming from Asia. namely China, Hong Kong, Taiwan, Burma, Singapore and Japan. Most of the customers who want to buy villas come from Europe, namely Russia, England, France and Germany.”

Comparison of sales of CBRE residential projects in 2022 and 2021

Foreign customers bought a 383% increase in condominium projects and a 233% increase in house projects, with the majority of foreigners buying housing projects from foreigners already living in Thailand. Moreover, CBRE has found that foreign customers have returned to buying holiday villas after the previous hiatus.

Behavior of foreign buyers

Most of them are groups with relatively high purchasing power. Or have a credit line to buy a condominium at the price level of 15-30 million baht, wanting a condominium in a central location Especially in business areas such as Silom, Sathorn, Lumpini, Sukhumvit, Pathumwan and the location along the Chao Phraya River. which 87% of this group of customers buy for their own living

for home project Most foreign customers have a purchase budget of 51-80 million baht, especially in Eastern Bangkok, the heart of the city, and the eastern suburbs. By buying for living by himself up to 85% and for that vacation home Foreign customers tend to buy at a price of 15-30 million baht, with interest in Phuket and Hua Hin. Most of them buy for their own living, 71%.

luxury market Chinese still have the highest demand for housing in Thailand.

Most of them want to buy luxury condominiums with 1-2 bedrooms in the price range of 15-30 million baht on Silom and Sathorn locations and mainly buy them for their own living. in the part of the house project Chinese people want to buy a 4-bedroom house in eastern Bangkok. And have a budget to buy from 30 to 100 million baht, most of them want to buy for living by themselves as well

The interesting foreign market is Burmese Buyer's Market

Last year, many Burmese clients living in Burma, Singapore and Thailand entered into contracts with CBRE. in the price range from 5 million baht to more than 100 million baht, especially luxury 2-bedroom condominiums in the price range of 15-30 million baht on Lumpini and Sukhumvit areas. for home project 91% of Burmese buyers want four-bedroom houses in eastern Bangkok and the city center for their own use.

Ms. Prakaipetch Meechoosarn, Head of Phuket Real Estate Trading Division, CBRE Thailand, further revealed that the Phuket housing market saw sales of vacation rentals in 2022 through "CRE" increase by 24% compared to The previous year, the most popular type of accommodation was villas or vacation homes. which has increased sales by 69%, with the foreign market interested in residential projects in Phuket starting to become active again

However, domestic customers are still in the same proportion as the previous year. While a 93% increase in foreign customers came from a diverse mix of nationalities investing in Phuket condominiums, including Russians, Canadians, Italians, French, Chinese and British.

“Demand in the Phuket villa market remains strong among buyers familiar with the island. Whether it's the original buyer from the previous project. Or from friends and family who recommend it, causing the Phuket villa market to continue to have customers who come to invest and buy continuously, such as Russia, China, Italy, England, Germany, Australia, America, India and Ireland for their own residence and rental.”

"CBRE" believes that the tourism market and the long-stay market in 2023 will be bustling.

This will increase more than ever during Q2 to Q4 and will continue to have a positive effect on demand for second homes and investment properties. Buying housing from foreigners covers a multi-level market. and spread to locations in Bangkok and provinces that are leading vacation destinations Including covering the rental market as well

Source:https://www.thansettakij.com/real-estate/565890

Date 23/05/2023