Thailand Real Estate

Even though the COVID-19 pandemic has significantly impacted the Thai economy throughout 2021, the Monetary Policy Committee estimates that the economy has passed its lowest point and that the country is taking steps towards economic recovery. The relaxing of COVID-19 measures, the reopening of the country, and the distribution of vaccines have all aided this. Nevertheless, the recovery rate still shows signs of uncertainty.

Overall, Thailand's economy is forecast to grow by 3.7%, thanks to the increase in domestic spending rate and the recovering tourism industry.

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. Chiang Mai, however, is forecasted to grow even more significantly at 12.8%.