Places to Buy Property in Thailand

With more than 14 million vacationers arriving in Thailand each year, tourism continues to be the main driving force behind the continued growth of the Thai property market.

The resort locations of Pattaya, Phuket, Koh Samui and Hua Hin are the locations of 30% of the country’s luxury apartment inventory, and have as a whole experienced annual growth of 9.5% in international arrivals since 2003. 

Currently Russians top the list of nationalities buying property in Thailand, followed by Thais, British and Australians.  Property in Thailand offers investors the opportunity to achieve good annual appreciation, rental yields of 6-10% and the ability to buy off plan projects with financing.  In this article we take a look at the best places to buy property in Thailand at the moment…

With it’s proximity to Bangkok and the new Suvarnabhumi airport, Pattaya is the most popular area to buy property in Thailand outside of Bangkok, with 66% of all new development launches for the nation in 2007. 

The average price per m2 for luxury property in Pattaya is around £2,000 per m2 - but studio apartments can be found in the centre of Pattaya from around £20,000.  In East Pattaya properties are cheaper, and a 90m2, 2 bed 1 bath house within a village development with communal pool is currently on the market for £25,000 with a rental value of £200 per month.

Due to fears of property acquisition restrictions for foreigners buying property in Thailand, new developments in Phuket have been slow over the last couple of years.  This has been more from a fearful development sector rather than buyers, who continue to snap up properties on the island as they come available.  Obviously this shortage of available property has had an effect on prices.  A 2 bed 2 bath apartment within Phuket town will start at around £38,000, and this includes communal facilities such as gym and swimming pool.  Outside of the town, inland properties can be had from £25,000 for a small 2 bed house. 

There are a large range of properties on the island within the £50,000 to £100,000 price range.  Rental prices start from £300 per week for properties within complexes.

The island of Koh Samui is another destination popular with foreigners buying property in Thailand.  With 2 golf courses, beautiful beaches and a range of attractions including temples, Golden Bhuddas, butterfly and snake gardens and an active nightlife, Koh Samui can keep the most hard to please expat amused.  Building plots with sea views on the island start from £14,000, and studio apartments start at £24,000.  For those wanting to do more than just retire in Thailand, bars and businesses start from around £35,000.

Just 200 kilometres south of Bangkok on the Gulf of Thailand is Hua Hin, an old fishing village.  Hua Hin offers those buying property in Thailand a more relaxed pace of life from other beach resorts, although it doesn’t lack for facilities and nightlife, it’s also the location of the King´s summer residence.  House prices start from £30,000, currently a 200m2 townhouse with 3 beds and 2 baths and a sea view from the top floor is on the market for £33,000.  Modern apartments with shared facilities such as swimming pools and gyms start from £38,000 and an apartment with a sea view can be had from £58,000.

All in all, buying real estate in Thailand can be seen to be a rewarding way to invest in property.  With similar prices to Bulgarian property you get sun, sea, sand and sophistication in Thailand instead of dodgy weather, gulags and vodka!