Thailand Second-home Market Gathering Pace

For second home buyers and property investors, the property market in Thailand is ripe with opportunity as the post-pandemic rebound gathers pace.

While limited travel during the pandemic meant many purchasers decided to wait before buying, there are now clear indications that high-net-worth individuals (HNWI) are returning in numbers to take advantage of favourable market conditions.

These include the relaxation of travel restrictions, government incentives for foreigners to obtain visas and the ongoing gradual expansion of the economy. Bangkok in particular, remains a key business hub with seamless access to other regional and global hubs, while the luxury property market still offers considerable value for money.

Magnolia Quality Development Corporation (MQDC) is one of Thailand’s leading property developers and continues to build on its reputation as a trusted partner for thousands of international purchasers.

The company’s property portfolio includes influential and award-winning landmarks on the Bangkok skyline, including the latest addition, Magnolias Ratchadamri Boulevard. Ratchadamri is well known as Bangkok’s most luxurious neighbourhood, a prime location in the central business district with fine shopping, dining and entertainment on the doorstep.

According to MQDC, high-end, mixed-use properties have been trending in the Thai capital this year, and the developer’s aim is that Magnolias Ratchadamri Boulevard’s prime location, and the level of attention to its design, will help the property to become a landmark in Bangkok and a centre for retail, hospitality and luxury residences. It will also “enhance the potential of the Ratchaprasong-Ratchadamri area to become one of the global key business districts”, says Keerin Chutumstid, chief operating officer of MQDC.

Inbound interest is also coming from European investors who have business connections to Southeast Asia. Part of this, is from professionals who are finding themselves untethered from desks and able to capitalise on one of the Thai government's two visa programmes for foreigners, the Thai Elite Visa and the Digital Nomad Visa.