Why do Russians choose Thailand for living and investing in real estate?

Thailand as an investment gem

Thailand is considered a true treasure trove for Russian-speaking travelers and those interested in real estate investments. Since the early 2000s, Russians have actively been purchasing apartments and villas in this magnificent kingdom, and between 2000 and 2010, their numbers significantly increased.

Changes in the real estate market

However, since 2015, due to the depreciation of the ruble against the Thai baht, the number of Russians in the real estate market has decreased as Chinese investors have taken the lead. Nevertheless, interest in sunny Thailand, famous for its stunning scenery and pleasant vacation climate, remains high.

The impact of the pandemic on tourist activity

During the COVID-19 pandemic, there was a sharp decline in demand for trips to Thailand. While 40 million tourists visited the country in 2019, that number dropped to 428 thousand in 2020 and 6.7 million in 2021.

Nevertheless, at the very beginning of 2022, when restrictions started to be lifted, both tourists and investors began to return to popular resorts like Pattaya and Phuket, and among them, of course, were citizens of Russia.

Although air travel was delayed, in the first quarter of 2022, Russians once again began actively purchasing real estate, ranking second in activity after Chinese buyers.

Political factors and changes in the market

The complex political situation and the sanctions imposed against Russia have made real estate transactions in Europe nearly impossible, which has significantly increased the interest of Russians in the opportunity to invest in Thailand once again.

This country is not included in the list of "unfriendly" states, which greatly simplifies the process of completing transactions. Moreover, the exchange rate of the ruble against the Thai baht has become more favorable; it is currently 1.4-1.6 rubles per baht, which is significantly better than in 2020-2021.

Resumption of air travel

Since the beginning of November 2022, direct flights from Moscow and Irkutsk to the Kingdom of Thailand have resumed, although ticket prices are still significantly higher than pre-pandemic levels, at least twice as expensive.

At the same time, connecting flights via Bahrain or Qatar were the most favorable option for travel. As of October 1, 2022, all coronavirus restrictions have been lifted and travelers can enter the country unimpeded, as they did before the pandemic began.

Increasing interest in permanent residence

In recent months, there has been a noticeable increase in the number of Russians looking to purchase apartments for permanent residence in Thailand. During the high tourist season, which lasts from October to March, the visa-free stay for citizens of Russia and Ukraine has been extended from 30 to 45 days.

Similarly, for Belarusians, Kazakhs, and Uzbeks, the duration of the visa on arrival has been extended from 15 to 30 days. This creates more convenient conditions for those wishing to enjoy a longer stay in Thailand and consider the prospects of integrating into the life of this amazing kingdom.

Tourist visa application

At the Thai consulate in your home country, you can apply in advance for a tourist visa for up to two months. This visa can be extended for one more month.

As an alternative, you have the option of using visa-free entry: you can travel to Laos and apply for a tourist visa at the Thai consulate there.

If you plan to stay in the Kingdom longer, you should consider obtaining a residence permit. Keep in mind that simply purchasing property in Thailand does not automatically grant you the right to a permanent residence visa, except in cases of an investment visa.

Types of residence permits and how to obtain them

If you intend to extend your stay, one way is to get a full year visa, which can also be extended.

• A visa is issued to those foreigners who can provide a job invitation from a Thai employer.
• The visa is also available for those who have started a business in the country, as well as for retirees and students.
• If your child is studying at a local or international school, this can serve as a basis for obtaining a visa for your entire family.
• Enrolling in language courses also allows you to obtain a student visa.

10-year visa (LTR)

This year, the Thai government introduced new conditions for obtaining a 10-year visa, known asLTR"(Long Term Residence), but for now this visa has not yet become widely accepted."

It is expected to be eligible for this visa:

• qualified specialists in high-tech fields,
• digital nomads,
• people with passive income and their families.

It is important to note that the minimum income level required to obtain this visa is significantly higher than in most other countries. For example, digital nomads must demonstrate an annual income of at least80,000 dollars.in the last two years before submitting the application.

It is also assumed that the visual...LTRIndividuals with financial assets in excess of1 million dollars.

Investment programs and Thai Elite Visa

It should be noted that in the post-pandemic period, Thailand is actively working on attracting wealthier foreigners and building the country's reputation as a "premium brand." In this context, the program for obtaining residency through...real estate investments(investment visa), however, according to experts, this initiative is not widely popular.

The minimum amount to participate in the program is10 million bahtabout270,000 dollars), and it's important to know that the apartment purchased for the application cannot be sold, otherwise you will lose your residence permit.

In recent years, considerable attention has been drawn toThai Elite Visawhich provides you and your family with the opportunity for unlimited stay in the country (but without the right to work) for up to five years, with the possibility of extending it to 20 years.

Participation in this program requires a budget of600,000 bahtApproximately16,000 dollars.This visa program has attracted many foreign citizens eager to enjoy life in Thailand for an extended period without excessive administrative hurdles.

Thus, there are many options for legal residency in Thailand for those who are willing to comply with local rules and regulations.

Investing in real estate in Thailand can be an effective way to legally arrange residency for those who are seriously planning to move to this warm country. An important aspect that concerns many is the choice of the optimal place to live in Thailand. The main popular destinations are Pattaya, located on the mainland, and the island of Phuket. These two regions are key for purchasing real estate, both for personal use and for future rental. Each of these places has its own specifics and attractive features.

Pattaya

Pattaya, located on the eastern coast of the Gulf of Thailand just one hundred and fifty kilometers from the capital city of Bangkok, is famous for its vibrant atmosphere, lively nightlife, and a wide range of entertainment options. Skyscrapers stand alongside local markets and eateries, creating a unique urban landscape. This resort attracts a large number of tourists, contributing to an international and multicultural atmosphere in the city.

Phuket

Located in the southwest of Thailand, Phuket is the largest island in the Andaman Sea, offering breathtaking natural landscapes and tranquility. About eighty percent of its area is mountainous, creating truly picturesque views. Phuket is famous for its magnificent beaches, where the sand is pristine white and the water sparkles in various shades of blue and green under the sun. Additionally, the island boasts a rich flora and fauna: there are five national parks established on its territory, which reflects a high level of environmental protection.

Phuket Resorts

The most famous resort in Phuket is Patong, which attracts many vacationers due to its vibrant nightlife. However, if you are looking for more tranquility, it's worth considering the less crowded beaches:

• Kata
• Crown
• Kamala

For those seeking privacy, the neighborhoods are suitable:

• Nai-Kharn
• Nai-Yang
• Ravai

Less attractive neighborhoods

It should be mentioned that Phuket Town and quieter areas such as Chalong on the east side of the island are not known for good beaches, making them less attractive to tourists. Phuket also has strict building height regulations: no more than seven to eight stories, and in mountainous areas the height should not exceed three stories. This creates a harmonious coexistence of residential objects and natural surroundings, which, unlike Pattaya, contributes to the preservation of ecological balance.

Transport accessibility

As for transportation accessibility, Pattaya has its own international airport that serves flights to various countries in Southeast Asia. However, most tourists prefer to land at the capital's airport, which is about an hour's drive from the resort. In turn, Phuket has its own international airport, which is the second most important after the capital.

Climate

The climate in Pattaya can be characterized as sub-equatorial. The dry season lasts from November to April, and then from May to October, the rainy season arrives. This gives the region a unique atmosphere and attracts tourists year-round, creating favorable conditions for real estate investment, whether for personal living or for subsequent rental. Based on this, the choice between Pattaya and Phuket largely depends on personal preferences and the lifestyle you wish to lead in this charming tropical paradise.

Location and climate

Pattaya is located in a vast bay, which provides protection from strong waves and the threat of tsunamis. The water in the Gulf of Thailand off the coast of Pattaya remains at a comfortable temperature of 27-28 degrees Celsius throughout the year, and the highest number of tourists arrives in this region in December.

The weather in Phuket is characterized as tropical, with pronounced monsoons. The low tourist season on this island lasts from April to October or early November, while the high season starts from November and lasts until March. Temperatures in this beautiful place usually hover around 30 degrees Celsius. However, Phuket is more prone to winds and during the rainy season, there can be heavy rainfall and high waves, which affects the vacation.

Beaches

Phuket's beaches are renowned for their beauty and cleanliness, offering white sandy shores for vacationers.

Quality housing in Pattaya

Experts note that in Pattaya, it is possible to find quality housing even with a limited budget if you focus on developing areas. However, it is important to understand that the variety of offerings in the real estate market at this resort can complicate the process of reselling an apartment later on. The same applies to renting in the future.

Pattaya is full of investment property offers that foreigners purchased before the pandemic, and Thai investors were able to buy them at a significant discount during the lockdown. This circumstance should be carefully considered when choosing real estate at this time.

Interesting projects in Pattaya

One of the objects worth paying attention to is the complex.Grand Solaire Pattayawhich includes two high-rise towers — 67 and 48 floors, built by one of the leading developers in the region. The project is expected to be completed by the end of 2024. Studios in this complex are offered at a starting price of 70,000 euros.

Furthermore, it is worth notingEmpire Tower Pattaya— another high-class project from the renowned developer Matrix Developments, which is at a more advanced stage of completion. Prices for studios in this complex start at 60,000 euros, and while the finishing touches are being applied, buyers can take advantage of an installment plan of up to one year.

Choosing real estate in Phuket

Phuket also offers a wide range of real estate options for both personal living and future rental. However, unlike Pattaya, Phuket lacks large high-rise complexes. The market here is more focused on small and cozy apartment projects.

In the luxury real estate segment, it's worth considering options like boutique condominiums.HarmonyorSky Parklocated in the Bang Tao area.

Rental in Phuket

When it comes to rentals in Phuket, villas priced at 20 million baht and above (approximately 500,000 dollars) are in the highest demand. It is recommended to pay attention to offers in the area.Laguna.

Apartments in complexes with hotel management are also great for rent, for example:

• A complex by Kamala Beach, managed by the international hotel chain MGallery.
• Layan Green Park, located near the secluded Layan Beach in Bang Tao

According to experts, the average rental yield in Phuket ranges from5 to 7% per year.

Trends in the real estate market

Experts emphasize that about70%Most real estate transactions in Thailand occur during the construction phase. This allows buyers to take advantage of interest-free installments from developers, which is a significant advantage. However, for those with a sufficient budget, there are also interesting options available in the secondary market.

Conclusions

In conclusion, it can be said that both main resort centers in Thailand have their dedicated groups of fans. Here, the financial aspect is not the only important factor, although it is certainly significant. Pattaya is more suitable for lovers of urban life and admirers of Asian culture. Moreover, the unique atmosphere of these places attracts people from all over the world, offering a variety of lifestyles and opportunities for real estate investment.

Conclusion

In concluding our detailed discussion about Thailand as a priority destination for investment and living, I want to emphasize that this friendly and open country still offers unique opportunities for Russian-speaking citizens. Despite the challenges posed by the pandemic and changes in the global market, interest in real estate in Thailand is only growing.

Since 2022, when the restrictions were lifted, Russians have been actively returning to the country. Thailand has become accessible again, and the opportunities for real estate investment seem better than ever. Consideringfavorable exchange rate of the ruble to the bahtand the absence of direct restrictions for Russian citizens, we can see how the demand for housing is growing and how Thailand is now showing more openness to foreign investors.

Visa options

An important point is also the abundance of visa options, which makes this process much more accessible. And new programs, such asThailand Elite VisaThey offer the opportunity for long-term stays, which is great news for those who want to make Thailand their new home. Despite the strict income requirements for obtaining long-term visas, the government is focused on attracting highly qualified specialists and wealthy individuals, which opens up additional horizons for future investors.

Benefits of living in Thailand

• Access to a favorable climate and beautiful nature.
• A variety of options for real estate investments.
• A variety of visa options for long-term stay.
• Pleasant living conditions for Russian-speaking citizens.

In conclusion, it seems that for many years this sunny country has remained a reliable choice for Russian tourists and investors. The attractive climate, beautiful nature, and lifestyle features, combined with an open real estate market, make Thailand one of the most preferred places to live abroad. I confidently assert that the future for Russian-speaking citizens in Thailand looks promising, and I would recommend it to anyone considering a new life in this country.don't miss your chances.