Mr. Prasert Taeduliyasatit, Chief Executive Officer Real Estate Business Division Ananda Development Public Company Limited (ANAN) Honorary President and Advisor Thai Condominium Association said at the Property Inside 2022 seminar “The way to survive the real estate After the Covid-Fire War” on the topic Foreigners…how to survive Thai real estate? that following Covid-19 and the fire of war, more foreigners came to buy real estate in Thailand and there should be a continuous increase in demand good for the Thai economy Therefore, it is recommended that the government set up a structure to support the demand for Thai real estate of foreigners in 4 matters as follows:
1. Can foreign ownership such as condominiums be held more than 49% to 70%?
2. Long-term leasehold rights Please be clearly stated in order to conduct business. or industry, for living
3. Reform the Thai real estate information system, whether it is freehold ownership, short-term leasehold rights, long-term lease rights, sources of funds, loans, etc.
4. Benefit structure such as Longterm Visa, tax system
According to information from the Thai Real Estate Information Center pointed out that the real estate market in Thailand has begun to recover It can be seen from the presale sales in 1Q12 that grew 23.6% compared to the same period last year. The condominium market grew approximately 40% from the same period last year. There are also opening new projects. which reflects the consumer confidence has returned.
Regarding the transfer of ownership of townhouses, detached houses, and condominiums in the past did not affect Because there are sales pending transfer (Backlog) of foreigners that have been bought before Covid-19 transferred in and there are still transfers continuously. mostly Chinese accounted for 70-80%, followed by the United States, reflecting that foreigners have returned.
While ANAN’s presale figure in 2Q22, which has already closed. with a share of foreign sales growing 800% from the total sales of 3,909 million baht, growing by leaps and bounds compared to the first quarter of 2012, with the majority of foreign customers returning, 87%, being Chinese in luxury, different from the original who are general customers
The factor that foreigners are interested in buying real estate in our home is the stability of the baht. Compared to other countries in the region such as Myanmar, Cambodia and Laos, good health system and the availability of private hospitals, international school education systems in countries that are rapidly developing and the friendliness of the Thai people
“The demand for foreign real estate in Thailand It currently accounts for 10-15% of the total market value. which we have to return in more importance to foreigners Because foreign demand is a permanent demand for Thai real estate. We also need to organize conditions, laws to reduce the impact on foreigners, such as the structure of the tax system. to meet foreign demand,” said Mr. Prasert.
