Foreign buyers are expected to drive growth in Thailand’s property market in the second half of 2023, while domestic buyers continue to face hurdles. Despite rising interest rates, inflation, and political uncertainties, the country’s real estate market is rebounding thanks to foreign purchasing power and the reopening of China. The Real Estate Information Center reports a significant increase in condominium transfers by foreigners, reflecting a positive recovery trend. Real estate agencies have observed a healthy growth in foreign buyers, with most coming from China, Hong Kong, Taiwan, Myanmar, Singapore, and Japan. However, there is a cautionary note about the rise in speculative investments and the potential for a property slump.
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