Thailand’s property market is recovering thanks to demand from foreign buyers

First of all, a large contribution was made by clients from Russia, who in 2022 took first place in the number of transactions with new buildings in Phuket. In total, they purchased 240 new apartments worth over 25 million dollars. Of the total number of transactions on the island, their number amounted to 29%. The share of foreign investors in Phuket last year was 32.4%, significantly exceeding the figures of previous years: in 2019 – 28.6%, in 2020 – 27%, in 2021 – 24%.

It is important to note that the demand for housing began to recover as soon as the first positive developments in the tourism sector became noticeable.

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