Real estate in Thailand: investment opportunities for Russians

Introduction to the Real Estate Market in Thailand

The real estate market in Thailand is gradually opening up its horizons for Russians, although it is still relatively new compared to other destinations. This exotic country attracts with its wonderful climate, friendly people, and affordable housing prices. In our previous review, we explored in depth what real estate is available in Pattaya, and today we will focus on other popular resorts, analyze rental rates, and find out how profitable it is to invest in real estate in Thailand.

Pattaya and its infrastructure

Pattaya undoubtedly remains the most attractive resort for Russian tourists due to itsdeveloped infrastructureHowever, there are other cities, such as Bangkok, that may eventually reach the same level as Pattaya. Nevertheless, Bangkok is a noisy metropolis where it can sometimes be difficult to find a break from the hustle and bustle of city life.

Current offers in Pattaya

As of today, there are 683 real estate listings available in Pattaya, with prices starting at $54,000. For example, a new residential complex with an indoor pool and stunning sea views is set to open soon in Chonburi, with completion scheduled for 2026. There is also an opportunity to purchase one of 186 apartments in a high-rise residence with pools and lush greenery just 200 meters from Jomtien Beach for $112,000.

Premium offers

In Pattaya, you can find premium-class properties as well. In the very center of the city, there are 899 apartments in a low-rise residence with swimming pools, with prices starting from $56,000, and the completion of construction is scheduled for 2028. One of the most interesting offers is an elite high-rise residence that will feature a water park, restaurants, and a hotel, with apartment prices starting from $83,000.

Available options

It is also worth noting the more affordable options: in Pattaya, apartments are available starting from $75,000, featuring three swimming pools and a rooftop terrace. There are also exclusive apartments starting at $86,000, which will be ready for their owners in 2025.

Comparison with other resorts

Now, if we move on to other resorts in Thailand, we can notice that the prices for accommodation there are significantly higher. For example, a one-bedroom apartment with a picturesque sea view in Pattaya will cost between 120,000 and 150,000 dollars. In Hua Hin, which is famous for its popularity among wealthy tourists, for the same amount you will only get less attractive options, such as two-bedroom apartments far from the beach or one-bedroom apartments with a view of the neighboring building.

The housing market in Hua Hin

In Hua Hin, due to the limited number of available apartments with panoramic views, they have become a true luxury item, with prices ranging from 12 to 20 million baht, which corresponds to 400,000 to 670,000 dollars. These offerings represent unique opportunities considering that the exchange rate of the Thai baht is at the level of the ruble.

Conclusion

Thus, the real estate market in Thailand offers both budget options in Pattaya and expensive deals in other popular resorts, allowing Russians to explore a variety of opportunities for investment and creating comfortable housing against the backdrop of the warm ocean.

The popularity of Phuket among Russians

The second most popular vacation spot for Russians in Thailand is Phuket Island. This resort is famous for its well-developed infrastructure, aimed at foreign tourists and residents.

Real estate in Phuket

Elena Yurgenyeva, head of the luxury real estate department at Knight Frank, reports that Phuket ranks among the top in terms of housing prices. There are almost no condominiums on the island; mostly, townhouses and individual houses are offered for sale. As for apartments, the majority of them are of a high standard.

Examples of real estate properties

• The Holme Place complex:Located just 400 meters from Karon Beach, the two-bedroom apartments covering 127 square meters without a sea view are priced at around 14 million baht (470 thousand dollars). They are fully furnished and equipped with appliances.
• City of Phuket:For a more budget-friendly option, consider the city of Phuket, which doesn't have a beach area, or the Kata coastline. You can purchase a two-bedroom apartment with an area of 90 square meters in Kata Ocean View Condominium for 6 million baht (200 thousand dollars).

Current real estate listings

Currently, there are over 620 properties for sale in Phuket, with prices starting at $1,144,000.

• New luxury residential complex:In the Thep Kasattri area, completion is scheduled for 2025. It offers 45 villas starting at $789,000. One of them is a two-story villa with a pool, garden, and terrace, covering 488 square meters with four bedrooms.
• Three-story premium villa:A property priced at $683,000, covering an area of 228 square meters with three bedrooms, located near the beach and international schools.
• Elite residential complex:It will be within walking distance of Bang Tao Beach and is set to be completed in 2026, offering 789 apartments priced from $722,000.

Modern villas and condominiums

In addition, there are many modern villas with pools and relaxation areas on the island, with a starting price of $1,107,000. Other modern complexes with luxury villas and pools are also available on the Phuket real estate market.

• There are 51 housing options available with prices starting from $182,000.
• A large resort condominium on the beachfront of Naiton includes 251 apartments, built in 2023.

Prestigious offers

There is also an opportunity to purchase a two-bedroom townhouse in an elite complex located just 800 meters from Kata Beach for 12 million baht (400 thousand dollars). Prices for houses in Phuket start at 8 million baht (270 thousand dollars) and can reach up to a million dollars.

A special place on the island

It should be noted that there is a prestigious location on the island called "Laguna Phuket" (Banyan Tree, Phuket Resort), for which the exclusive sales agent is Knight Frank.

Information about the complex

The complex is managed by a well-known international hotel brand that offers premium services. Acquiring a villa in this complex grants access to a variety of restaurants, gyms, and other hotel amenities.

It is worth emphasizing that the villa can be rented out for a long term, which is an attractive offer for investors. The prices for villas range from1.8 to 4.2 million dollars— reports real estate specialist Elena Yurgeneva.

Real estate in Samui

In close proximity to the aforementioned complex, there is another property in Samui where, according to the information from the agency of Ernest Novik, certain conditions apply.height restrictions for buildingsThis limitation results in about 95% of the offers on the market being individual houses.

Currently available for sale in Samui are81 real estate property, the cost of which starts from115 thousand dollarsThis list features spacious apartments and villas with private pools, located just 900 meters from Lamai Beach in Thailand.

Other suggestions

In addition, 25 objects start with132 thousand dollarsoffering furnished apartments and villas equipped with private pools and sea views, in a secluded area by Lamai Beach.

Among the available options, there is also16 objectscost675 thousand dollars...which are magnificent villas with pools and panoramic sea views. Some of these villas have an area...320 m²and the land plots vary around700 m².

For275 thousand dollarsYou can purchase tropical villas with pools, located just a few steps from Plai Laem Beach.

Discounts on apartments in Thailand

Recently, there has been a trend in Thailand where many realtors are offering significant discounts on apartments—ranging from 15% to 20%. These offers pertain to properties registered under Thai companies. However, as real estate expert Ernest Novik emphasizes, such deals may complicate the process of reselling the apartment in the future.

The process of buying real estate

The principle of purchasing such real estate is that with the help of a Thai lawyer, the future owner creates a company in Thailand, which is registered as the new owner of the property. This means that the real estate is considered to belong to this company, while the management of it is carried out by the buyer themselves.

Rules for foreign buyers

It is important to note that in Thailand, foreigners are only allowed to purchase apartments in their own name, while land plots, houses, and townhouses can only be acquired through a local company. Additionally, the funding for the purchase must be transferred electronically to a Thai bank account or brought into the country through traveler's checks.

Rent and investments

It is also worth considering that investments in real estate for the purpose of subsequent rental may not always have a positive impact on the investor's financial situation. As Ernest Novik claims,“Net profitability, taking into account all housing maintenance costs and agency commissions, rarely exceeds 6-7%.”.

The popularity of renting among Russians

Renting property in Thailand is becoming increasingly popular among Russians, especially among those who have been living in the country for more than six months. Many prefer to rent accommodation rather than buy it, particularly new tourists visiting the country for an indefinite period – for example, during the winter or for vacation.

Rental housing prices

Rental prices for housing in Thailand often depend on the real estate market and fluctuate significantly depending on the season.

• In the low season, when the influx of tourists decreases, rental rates can drop by 20-30% compared to the high season, when there is increased demand.
• During holidays like New Year and Christmas, rental prices can increase by 10-20%.

Tourist areas and rentals in Pattaya

When looking at tourist areas, the highest number of rental offers can be found in Pattaya.

• A small studio with a microwave and internet, located a few kilometers from the sea, can be rented for 4,000 to 5,000 baht per month (approximately 130-170 dollars) if it's a long-term rental.
• For studios located right by the sea, with an area of 34 to 36 square meters, including a kitchen and internet, the rental price ranges from 10,000 to 15,000 baht (340-510 dollars) per month.
• A one-bedroom apartment with an area of 36 square meters, featuring a balcony, kitchen, and safe, can be rented for 10,000 to 12,000 baht (330 to 400 dollars) about a kilometer from the beach.
• If we are talking about housing located closer to the coastal area, the rental price can range from 13,000 to 20,000 baht (430-670 dollars).
• In the case of two-bedroom apartments located in the front rows by the sea, the rental price can reach 80,000 to 100,000 baht (2,700 to 3,300 dollars) per month, considering the designer renovation, expensive furniture, and stunning panoramic ocean view.

Housing rental in Pattaya

Renting a property in Pattaya, whether it's a three or four-bedroom house, depends on various factors such as the total area of the property and the size of the land, the presence of a pool, as well as its proximity to the sea.

On average, the rental cost for such properties ranges from 25,000 to 35,000 baht (approximately $830–$1,170) for a long-term lease of one year. In the case of short-term rentals, such as for a month or two, the price can vary from 40,000 to 70,000 baht (about $1,300–$2,300).

Features of renting in Phuket

Luxury villas are particularly popular in Phuket, with an average price ranging from 600,000 to 850,000 baht per month (20,100–28,500 dollars). However, there are also more budget-friendly options available in the region.

• In areas away from the beaches and in the city center, you can find studios and one-bedroom apartments priced from 3,000 to 6,000 baht (100–200 dollars) per month.
• The cost of the townhouse on Kata Beach will be 25,000 baht per month (840 dollars).
• Renting a separate house will cost 40,000 baht (1,300 dollars).

Renting in Samui

In Samui, the rental market structure is different. It's almost impossible to find apartments here, but the availability of affordable houses and townhouses provides a wide range of options for renters.

During the high tourist season, the possibility of renting a one or two-bedroom house with a total area of 50 to 60 m² in a residential complex will start from 9,000 to 15,000 baht (300–500 dollars) per month, depending on how close the property is to the sea. The rental cost for a standalone house with a private pool will be significantly higher, starting from 35,000 to 40,000 baht (1,200–1,300 dollars) per month.

Utilities

It's important to remember that utility costs are also added to rental expenses.

• The cost of electricity ranges from3.5 to 5 baht12 to 17 cents per kilowatt-hour.
• The price of water varies from25 to 30 baht(84–100 cents) per cubic meter.

The investment climate in the real estate market

Regarding the investment climate in the real estate market in Thailand, according to Igor Indriksons, the investment director at the international company IntermarkSavills, the growth rates are not very fast. Selling real estate can be a challenging task, but at the same time, property values show stable growth in the long term.

Ernest Novik emphasizes that the real estate market in Thailand is still perceived as undervalued, and there is significant potential for further development. At the same time, approximately90%All real estate properties are used for living or renting out, and only a small portion comes up for speculative operations, which has been noticed by Russians who have been actively starting to invest in such real estate since 2007-2008.

The essence of real estate investments

The essence of real estate investment is simple: you can buy an apartment for100 thousand dollarsin a construction project with partial payment. The initial deposit will be20%For two years, you will need to make contributions.50%from the total cost in equal parts once a quarter.

Through2.5 yearsWhen the object is ready, you will pay the remaining amount.30%When purchasing during the pre-sale stage, you can receive a discount.15-20%from the market price.

About inyearwhen the developer will raise the price by10-15%You will be able to sell the apartment contract for115 thousand dollars.

Conclusion

In conclusion, the real estate market in Thailand offers a wealth of opportunities for Russians seeking new horizons for living or investing. While Pattaya remains the most popular resort due to its developed infrastructure and affordable housing prices, other regions of the country also present interesting prospects.

It is worth noting that when comparing housing prices in various resorts, cities like Hua Hin and Phuket require more serious financial investments, and the choice of housing here may be limited. However, they offer their own charms, such as high-end complexes and picturesque sea views. Over time, I have noticed that interest in the Thai real estate market is only growing, which confirms the correctness of the choice to invest in such properties.

Prospects for investors

For those who are open to considering different options, besides Pattaya, it's worth paying attention to:

• Bangkok- a large city with a developed infrastructure;
• Phuket- a region with a high standard of living and plenty of sports and cultural events;
• Other resort areas with high investment potential.

Each of these regions has its unique characteristics and can meet the diverse needs of foreign buyers.

Final thoughts

Thus, I am confident that real estate in Thailand, with its warm climate and friendly atmosphere, presents an excellent opportunity for creating a new home or generating passive income from rentals. If you are considering investing, now is the perfect time to dive into exploring this multifaceted market and make informed decisions. I wish good luck to everyone who has decided to take a step towards new life opportunities!