WHY DO FOREIGNERS PURCHASE RESIDENTIAL PROPERTY IN THAILAND
The underlying reasons are no different from the reasons why foreigners choose to visit the country.
An affordable cost of living, delicious cuisine, warm hospitality, convenient travel options and distinctive culture contribute to the appeal.
Most foreigners who invest in real estate in Thailand have experienced the country as a tourist before.
In recent years, several factors have been added to attract foreign buyers, including relocation from their home country, education for their children and investment opportunities.
According to the Phuket Real Estate Association, the largest group of foreign visitors arriving in Phuket between Nov 1, 2022 and March 7, 2023 was Russian nationals, with 387,329 visitors in total.
At the same time, Russian buyers emerged as the leading market in terms of condo transfers in Phuket in 2022, up from second spot during 2020-21 when Chinese buyers still dominated the market.
