National—
On March 11th, 2024, Mr. Simon Lee, the Chairman of the Board of Directors of Angel Real Estate Consultancy Co. Ltd., publicly revealed an increasing number of investments in real estate in Thailand by Chinese, Taiwanese, Russian, and Burmese nationals.
The foreign investors reportedly invested in an estate for private residences and renting out with an average return of 5%. According to Simon, Chinese and Taiwanese nationals invested the highest amount in real estate, especially in developed areas including Bangkok, Phuket, and Chiang Mai, starting from 5 million to 100 million baht investment in one unit to ten units.
Furthermore, Russian nationals tended to invest in Phuket condominiums starting from two to five million baht per unit and villas starting from 20 million baht with a long leasehold right of 30+30 years, said Simon.
Meanwhile, Burmese nationals invested in estates in Phuket and Chiang Mai starting from 20 million baht and Bangkok, Chiang Mai, and Phuket condominiums starting from two to five million baht. According to Simon, most Burmese investors were wealthy and reportedly were for political asylum and conscription evasion purposes.
Foreign investors viewed Thailand as a safe zone for investment and chose to purchase estates near public transportation and educational institutes. It would take time for Russian and European investors to eye Thai real estate, meanwhile, Chinese investors were increasing steadily, said Simon.
