5 Hot Spots to Invest in Thailand in 2024!

2024-08-13

Thailand

Your property is one of your biggest investments. So you'll definitely want to know if that place is good for investment. Today, we'll talk about Thailand!

Do you know why Thailand property is popular for investing?

Upgrading from a low-income to an upper-middle-income country, Thailand has come a long way over the last few decades while making noticeable development in social and economic sectors.

You can potentially live a lot cheaper, more so, leading a desirable lifestyle at the same time.

However, choosing a proper location is key to valuable real estate. The homebuyers who choose the best spots are usually benefitted from the most valuable property, considering the accessibility, outlook, and amenities of a neighbourhood.

Let’s have a look into the five HOT spots to invest in the property market of Thailand in 2024.

Table of Content

Bangkok

Phuket

Chiang Mai

Pattaya

Hua Hin

1. Bangkok

Bangkok

Arguably being acknowledged as the economic hub of Thailand, Bangkok is a popular destination to stay and work for both local Thais and Expats.

It is the capital of Thailand, which is located on the delta of the Chao Phraya River.

With an estimated population of more than 8 Million, it opens up opportunities in the real estate market for investors and as well as homebuyers.

The remote working flexibility in Bangkok has successfully managed to get the attention of foreign buyers, particularly the Chinese.

Why buy property in Bangkok?

Bangkok
Property Market	In Q1 2024, single detached house's demand remained robust, leading to a 2.4% y-o-y increase in selling prices, fueled by escalating material and labor costs. For condominiums, luxury projects continue to see strong demand, especially for larger and duplex units priced at approximately THB 300,000 per square meter.
Average Rental Yield	5.07% in 2024
Geography	Thailand is geographically well-positioned. The capital city, Bangkok is a business hub and get benefit out of the profit that creates positive economic fundamentals.
Urban Development	There has been consistency in Bangkok’s urban development with top-notch residential projects, modern road networks and links to main industrial and commercial centres.
Global Appeal	Bangkok attracts major foreign buyers from China and Singapore, demands is expected to continue growing.

2. Phuket

Phuket is an internationally celebrated travel destination, which is known as the ‘Jewel of the Andaman Sea’. It is one of the southern provinces of Thailand.

Locating on Thailand’s biggest island, this place has gained popularity with its blissful beaches, dreamlike lifestyle, and properties having wonderful beach views.

Why buy property in Phuket?

Phuket
Property Market	The Phuket residential market is anticipated to stay strong in 2024, with prices forecasted to rise by 10-15%. Condo unit sales surged from 500-600 units per year to 2,000 in 2023.
Average Rental Yield	6.36% in 2024.
Speedy Development	Development in Phuket is taking place at full speed. An excellent road network stabilizes the residents’ connectivity with other venues around the island. Also, the transport capacity of Phuket International Airport has been expanded to receive a healthy number of passengers annually.
Stable Vacation Rental Accommodation Demand	Renowned as a famous travel destination, Phuket greets millions of travelers every year. The strong accommodation demand is found in Phuket for the whole year. From the fascinated tourists, number of property investors or permanent residents keeps growing.

3. Chiang Mai

Chiang Mai

Known as the ‘rose of the north’, oftentimes considered as the ‘cultural heart of Thailand’ as well, Chiang Mai is an essential part of the economic growth of Thailand.

It is the capital of Chiang Mai Province, and also the largest city in northern Thailand. The city presents a unique landscape having many mountains. Traditional buildings and numerous old temples also resemble Chiang Mai.

Why buy property in Chiang Mai?

Chiang Mai
Average Rental Yield	6.32% in 2024.
Urban Development	Several new ring roads and highway projects have been completed or are underway, easing traffic congestion and improving access to and from the city. Construction of the Light Rail Transit (LRT) system has begun to improve connectivity within the city and surrounding areas.
Stable Vacation Rental Accommodation Demand	The attention from Chinese tourists has taken Chiang Mai’s real estate market into a higher position.
Living Experience	The place provides a harmonious living experience.

4. Pattaya

The resort city – Pattaya is a very well-liked leisure destination of Thailand, which is situated in the eastern part of the country.

Only two hours of being away from the capital city, Pattaya has become a great escape plan for the residents of Bangkok. This city even has accessibility to the Eastern Seaboard Industrial Estates.

Why buy property in Pattaya?

Pattaya
Property Market	The average selling prices of condos in Pattaya remained relatively stable. Last year, Jomtien was the top location for new condo supply, making up 43% of launches, followed by Phra Tamnak at 28% and Pattaya City at 16%.
Average Rental Yield	6.11% in 2024.
Urban Development	Four monorail lines are planned for Pattaya to alleviate traffic congestion, including a 9.9km Green Line starting at Pattaya station for the Bangkok-U-Tapao high-speed railway, with 13 stations, expected to be finished by 2026.
Potential Tourist Destination	Pattaya offers a lot of breathing and entertainment spaces, attracting local and foreign tourists to visit.

5. Hua Hin

The very old beach resort of Thailand in Hua Hin, which is one of the eight districts of Prachuap Khiri Khan Province in the northern part of the Malay Peninsula.

This place is just about three hours away from Bangkok. It was once a fishing village that with time transformed into a fashionable destination for both residents and expats after the Thai royal family built summer palaces here.

Why buy property in Hua Hin?

Hua Hin
Property Market	According to data from the Thai Real Estate Information Center (REIC), the average price of residential properties in Hua Hin has increased by 5-7% annually over the past five years. Pretty sensibly priced residential properties like condos, villas and houses are found in this destination.
Average Rental Yield	5.26% in 2024.
Urban Development	The operations of the new elevated train station in Hua Hin have started in 2023.
Retirement Spot	It is a popular destination for retirees since it offers a laid-back living environment.
Potential Tourist Destination	For Bangkok’s holidaymakers, Hua Hin is an escape from the monotonous life and embracement of a perfect beachside lifestyle.

So what are you waiting for? Start the year off right with an investment in one of those hot, new properties in HOT spots of Thailand!