Thailand Real Estate Market Winners & Losers of 2023

[@michaelcooksey7232]

Using the broader definition of real estate. What about just land? How are the prices of land (specifically single-family homes) outside of the normal Farang areas of interest?

[@Pattayaman999]

Excellent report. I purchased a resale condo recently. The new condos were very small compared to a 10 year condo for the same price. Anything less than 75 sqm is uncomfortable.

[@BadboyMax1986]

75 sqm are very big, if you are a single person or just two people.

[@warrpedd]

I'm not buying property when my legal status is dependent on yearly visa approvals.

[@JettGunther]

If you didn't do anything to warrant getting deported, this yearly process you're referring to is an extension filing. There are hundreds of thousands of expats happily spending their professional or retirement lives in Thailand.

[@MikeTangMoke]

Ramintra, Minburi and Nong chok are still affordable areas that are steadily being developed. Buy land and build or buy an existing home?

[@calky360]

I heard in the past that the government was considering allowing foreigners to buy land/house package in subdivision type developments potentially. Any word on this? Or your thoughts on if this is something that might occur in the future?

[@JettGunther]

Was met with heavy opposition from the public. The new govt is revising the proposal but let’s see. Land sovereignty is something that is very dear to Thailand and its history.

[@Nordic_Sky]

Jett, good video. It is informative to follow supply/demand and sales volume trends. But the most important data point is what is happening to the prices of individual properties. The criticism I hear most often about property in Thailand is that it is largely flat over time, and in general the market has a strong preference for new product, so used condos can be hard to sell. Based on what you see, are prices going up?

[@JettGunther]

Zooming in on individual condos becomes anecdotal. I know people who've made money, and I know people who've lost money. At the overall market level, have a look at 04:08 Nationwide condo transactions, specifically transaction value. Regarding whether second hand condos sell, refer to 05:30 Second hand property listings

[@Shannbkk]

Nonthaburi and Samut Prakan are not suburbs of Bangkok.... they are separate 'changwat' or provinces. They are however part of the area referred to as 'greater bangkok' by the BMA.

[@Toddv5968]

Would have like to have seen data for Hua Hin. New homes are going up and selling like crazy! My development of around 50 new homes sold out in just a few months and now Phase 2 is already sold out. We see similar demand in other developments. It seems everything that’s nice going up for sale is selling quickly. We aren’t as big a condo market as other areas compared to homes but surprised we weren’t included.

[@JettGunther]

My take is that Hua Hin is very hot for foreigners who account for just around 6% of total transactions. For Thai's, there are more popular cities and provinces. See 02:13 Top 10 provinces by residential transactions.

[@G3Z44]

Any data on Samui?

[@johntheaccountant5594]

Phuket seems to be crazy.

[@bigwaidave4865]

It will be interesting to see how this new tax law affects the real estate market. Does Thailand intend to tax money coming into Thailand to purchase a condo?

[@JettGunther]

No one knows, even the govt. It was a very sloppy announcement and they still need to figure out all kinds of details.

[@markadler8968]

Every foreigner that buys over there is taking an unnecessary risk. Keep your assets in your home country where they actually appreciate and where you can actually own the property outright. That way you do not have to buy in a building that is majority Thai owned or buy land/house through a company which is controlled by a Thai.

[@buckles303]

Can buy a condo without a Thai company no problem.

[@Beachbumbaby]

@@buckles303he referenced that by saying the building still needs to be 51% Thai owned .

[@MrTopcop3003]

Hahaha, no thanks.

[@BadboyMax1986]

@@buckles303 But there is no freehold land. And why buy in Thailand, if you have much bigger rent yields in the USA.

[@tom-d1s]

Thai real estate is and has been in the doldrums for many many years aleady. Money laundering is one reason, overbuilding to facilitate the above is another. Empty condos, houses all over the country. Real estate is a foolish investment in this country. It's a much better idea to rent and you won't loose money that way.

[@JettGunther]

You think it’s just a Thailand problem? All purchases by foreigners must be done by transferring from a foreign bank into a Thai bank, in which the Thai bank must issue a receipt of transfer that is then registered at the land department. Other payment means are not accepted. Are there some cases that slip under the radar? Sure. But to accuse an entire country’s market? I’d like to see you back that up with some proof.

[@blueprint8901]

Thanks!

[@JettGunther]

Thank you so much!

[@blueprint8901]

So ur saying it's a buyers market. Sweet

[@JettGunther]

I'm glad this video was valuable to you.