Billion Baht Bonanza in Thai Residential Sales Market
It’s great to read some good news for a change, not of loss, but of gain. Particularly of gain in the Thai residential real estate market. Two stories caught our attention in the past week, both showing that there is demand to the tune of a few billion baht in the residential sales market. The first story appeared on the EdgeProp website, under the title, “Minor International rakes in THB2.5 bil from sales of eight Phuket villas,” on March 4th. The Phuket luxury villa market moved very slowly prior to the pandemic, however in the past 12 months, luxury villas have moved faster than at any other point in recent memory. The demand is real, driven by wealthy Thais.
The second story we found on The Bangkok Post website, “New sales hit B2bn at The Forestias.” The Forestias, a project in Bangkok, features an amazing 30 rai forest. At 398 rai, The Forestias is currently the largest development project in Thailand.
We hope to continue reading good news in the Thailand real estate market. Slowly but surely the market will recover and Thailand will be well on its way to growth.