Is this the time to buy? Thailand Focus 2023
The economic recovery and the tourism industry’s rebound in the last quarter of 2022 are positive indicators that the real estate market will recover from its slump in 2023.
At the beginning of 2023, there will be new supplies in the market as developers and owners of landed properties start reselling their properties to accommodate demand from consumers with strong purchasing power and foreign investors.
It’s worth noting that 2023 will remain a challenging year for buyers as real estate prices and interest rates continue to increase. Bank of Thailand’s measures to relax Loan-to-Value or LTV, which were implemented to benefit consumers, have already ended.
On the other hand, new land appraisal prices are currently enforced, which means those who plan to buy real estate in 2023 need to be financially stable and observe financial discipline in order to do so.
