According to studies done by Juwai.com, one of China’s leading property buying websites and real estate portals, there are signs of recovery for the Thai real estate marketing within the upcoming years. The executive chairman of Juwai, Georg Chmiel, tracked the prices for rentals and sales based on surveys from Thai real estate agents at the beginning of 2020, with prices expected to drop first, before climbing back up by the end of 2021.

It is to no surprise that the residential prices and rental rates for nation-wide properties in Thailand would be on the decline for 2020. The forecast for rentals is generally negative, with a huge dip, as foreign buyers and renters account for a lot of the transactions in the market. The largest percentage swing is met for residential prices in Bangkok with prices dropping to as low as 4.9% decrease with hopeful recovery at a 7.4% increase in 2021. Chiangmai, however, is forecasted to grow even more significantly at 12.8%.