From September 25, 2023 to February 29, 2024, Thailand will introduce a visa-free regime for Chinese and Kazakh tourists visiting the country. Under the new rule, they will be able to stay in Thailand for up to 30 days without the need for a visa. This initiative was announced by the Public Relations Department of the Government of Thailand. The measure is aimed at boosting the tourism season, which...
Foreign investor interest in the Thai property market continues to grow. According to the Real Estate Information Center (REIC) of the Government Housing Bank (GH Bank), in the first six months of 2023, sales of condominium housing to foreign customers increased by 14.7% compared to the same period in 2022, reaching 10.8% of the total. sales Also, the cost of transactions with non-residents increased by...
Thailand remains a sought-after destination for foreign tourists and long-term visitors, including expatriates and retirees. The number of expatriates increased to 156,596 in the first quarter of 2023, with half choosing Bangkok as their home base, according to data from Colliers and the country's employment department. The main sources of relocation to Thailand remain Japan, China and India. After the...
In 2022, foreigners registered 723 condominium units in Phuket, double the number in 2021 and 2020 and 26% more than in 2019. Our colleague from Phuket notes that these statistics reflect only transactions with finished housing, only completed condominiums fall into it, and according to her observations, the vast majority of transactions in 2022 took place at the construction stage and they will be...
In the first 10 months of 2022 alone, 480 foreign companies received a business permit, which have an authorized capital of 106.4 billion baht ($3 billion). What led to this result? The Business Development Authority said that in the first 10 months of this year, 480 foreign firms with registered capital of 106.4 billion baht ($3 billion) received permission to operate in Thailand. Trend. Deputy...
Previously, foreigners actively purchased property in Phuket as an investment. This was understandable, since local properties provided a relatively high and often guaranteed income. However, during the pandemic, we are seeing the emergence of a new trend: families from Russia, Kazakhstan and other countries are thinking about moving to the island in order to spend most of the year there, conduct business...
Phuket is one of the most sought after resort destinations in Southeast Asia. In the past, foreign investors have successfully invested in local hotel properties and profited from the many tourists visiting the island. However, there is now a change in trends. There is a huge demand for branded residences. What is branded real estate? Branded residences are complexes of apartments or villas located in...
