03/04/2023
🏝️ Phuket's property market is thriving, driven by 🇷🇺 Russian and 🇨🇳 Chinese investors. Chinese buyers are acquiring villas, shophouses, and orchards to cater to Chinese tourists, while Russian investors prefer pool villas and homes. The demand for Phuket properties is expected to rise further, with Russians buying properties to live in and Chinese investors expected to come in seven to eight months after the flow of tourists.
🏢 The Phuket Real Estate Association reports huge demand, with all finished condo units and villas with pools being sold out. 2023 is expected to be a "golden year" for Phuket's real estate market, with high demand from Russians for the next year or two. Western Phuket has seen prices spike 15-20%, with buyers targeting villas in popular beach locations.🌴🎉
🏬 The condo sector has not fully recovered, but Knight Frank predicts that it will regain pre-pandemic levels within the next few years. Meanwhile, the rental apartment market in Bangkok is also booming, with occupancy levels increasing from 10% during the pandemic to 40% now and rental units fetching over 50,000 baht per month in popular locations.💸💰
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