Thailand real estate market to see post-pandemic boom by 2024
Real estate developers in Thailand should brace themselves for a post-pandemic boom, despite the current inflation and higher development prices, economists say.
After a 2 year slowdown during the pandemic, Thailand will enter a new economic phase from 2022 to 2024, according to Bangkok Bank’s Senior Executive Vice-President Kobsak Pootrakool in the Bangkok Post.
“We are getting close to the end of the tunnel. It is a transitional period with fluctuations. If we can make it through, we should be able to ride Asia’s economic growth wave, which can be prominent in the global economy after 2024.”
Thailand’s rate of inflation is low compared to other countries, and it’s expected to stay that way until the second half of the year.
Oil prices have led the inflation, which will impact the price of real estate development, while the prices of building supplies have increased significantly since last year.
“Before the crisis ends, which will bring a post-pandemic boom, developers should grab an opportunity in the final stretch.”
“They should digitise and improve their business, reduce costs and lock in interest rates for financial costs.”
The problems in the next stage will be different from the previous 2 years, he says. They include a change in the international trade and financial system, geopolitical tensions, technological change and increased rivalry in the so called “Asian Century.”
The Thai economy saw promising signs at the end of 2021, with improved indexes on major drivers such as manufacturing, exports and industrial investment — but not the tourism industry.
“The new Omicron variant will likely ease by the end of next month because of mass vaccination… It’s time to reinvest in the property sector.”
For the next 2 years, the Thai economy should grow, with tourism being the primary driver and a rebound expected by the end of this year.
“A target of 5 million travellers this year is possible, with the potential of reaching 20-25 million next year.”
SOURCE: Bangkok Post
Thailand Property FAQ
Can foreigners buy property in Thailand?
Yes. Foreigners can own condominium units freehold, as long as foreign buyers hold no more than 49% of the building's saleable area. Land cannot be owned directly by foreigners; houses are usually held through a 30-year lease — and since a March 2025 Supreme Court ruling, automatic “30+30+30” renewal structures are not enforceable beyond the first 30 years. Read the full foreign-ownership guide.
What is Thailand's 49% foreign quota?
In any condominium project, no more than 49% of the total saleable floor area can be foreign-owned. The quota applies only to condos — not houses, land or leaseholds — and popular buildings in Bangkok, Phuket and Pattaya can hit the cap. How the quota works in practice.
How much are property transfer fees in 2026?
The transfer registration fee is cut to 0.01% (from the standard 2%) and the mortgage registration fee to 0.01% (from 1%) for purchases where both the price and assessed value are 7 million baht or less — extended by the Cabinet on June 30, 2026. On a 6-million-baht home that saves around 120,000 baht. Who qualifies for the cut · Standard fees & who pays what.
Is it better to rent or buy in Thailand as an expat?
It mostly depends on your time horizon: for stays under roughly five years renting usually wins once transfer costs and resale friction are counted, while longer stays can favour buying — especially with 2026's reduced fees. The rent-vs-buy maths for expats.
How much does property cost in Thailand?
A little over 2 million baht buys a freehold one-bedroom condo in central Chiang Mai — the same budget covers only a studio in Bangkok's CBD. Prices vary sharply by region and city. Average prices by region, and what they buy you.
What taxes do property owners pay in Thailand?
Owners pay the annual land and building tax, and rental income is taxable; buyers and sellers split one-off costs like transfer fees, stamp duty or specific business tax depending on the deal. The go-to guide to Thai property taxes.
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