May 27, 20233 yr From the Thaiger A surge in foreign interest in luxury property in Thailand has been observed since international tourists began returning in the latter half of 2022, according to property consultancy CBRE. Sales transactions through CBRE have risen by over 200%, indicating a clear trend. In response, developers are preparing to launch new luxury and super-luxury residential projects in 2023, with a focus on single houses. CBRE Thailand represents approximately 30 leading residential projects with a total project value surpassing 40 billion baht, stated Artitaya Kasemlawan, head of residential sales projects. Among these projects, 58% are luxury and super-luxury housing, 40% are luxury condominiums, and the remaining 2% are villa developments. In 2022, foreign travellers returned to Thailand in significant numbers, with 11.2 million arrivals. Among the projects CBRE represents, 89% were purchased by Thai buyers and 11% by foreigners from 2022 to early 2023, said Artitaya. “The majority of foreign buyers looking for condominiums and houses come from Asia, particularly China, Hong Kong, Taiwan, Myanmar, Singapore and Japan. Most of the clients interested in buying villas come from Europe, such as Russia, the UK, France and Germany.”
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