Middle East buyers show growing interest in Phuket
Apisit Soonthronchukiat, chief executive officer of Origin Vertical Corporation, part of Origin Property (ORI), said inquiries from Middle Eastern buyers had increased over the past two months through property agents. Interest has been particularly strong in Phuket projects, which are proving more popular than Bangkok.
Some buyers are looking to purchase homes for long-term residence and to make use of Thailand’s long-stay visa privileges, reflecting the country’s continued appeal among buyers seeking a safe place to live and invest over the long term.
Large-scale government infrastructure investment is also seen as a key factor supporting Thailand’s long-term appeal as a regional centre for investment, residence and connectivity. These include the southern Land Bridge project, worth more than 1 trillion baht, and the development of the Eastern Economic Corridor (EEC).
Prasert Taedullayasatit, chief executive officer for property business at Ananda Development, told Thansettakij that demand remained healthy in the luxury and ultra-luxury condominium segments in central business district locations, especially among high-spending buyers and foreigners.
This has encouraged several property developers to continue looking for land for future projects.
Amid weaker domestic purchasing power and the conflict in the Middle East, Ananda is pushing ahead with a full-scale foreign-buyer strategy under the concept “Relocate to Thailand — We Handle Everything”. The approach is not limited to selling homes, but also seeks to sell the idea of starting a new life in Thailand.
The core idea is to simplify relocation so that buyers only need to make the decision, while the company handles the rest.
A key strategy is linking visa privileges with property investment. Qualified buyers can receive a one-year long-stay visa from an investment starting at 3 million baht.
This has led to increased interest among Middle Eastern clients in short-term stays through rentals of Ananda’s serviced apartments and hotels, with the potential to create long-term residential purchase opportunities.
Thailand positioned as part of global wealth ecosystem
Poomipak Julmanichoti, chief strategy officer at Sansiri, said Thailand was no longer merely a holiday destination. It is becoming part of a “global wealth ecosystem”, where investors can live, invest and plan for the long term in one place.
A key factor raising Thailand’s profile among foreign investors is what Sansiri calls its “Infrastructure of Life”. This includes world-class healthcare, international schools, food security and a high-quality lifestyle at a competitive cost compared with major global cities.
That view is in line with the assessment of several global analysts that have begun describing Thailand as one of “the world’s last safe havens” at a time of rising global uncertainty.
Pitchakorn Meesak, head of Global Network at SC Asset, said the company had partnered with Thai Longstay Management to launch a campaign aimed at foreign customers interested in living in Thailand over the long term.
Under the campaign, foreign buyers who purchase and transfer ownership of SC condominiums worth at least 3 million baht are entitled to apply for a one-year long-stay visa.