Russians bought a quarter of all apartments and half of villas in Phuket in 2023. writes about this “Kommersant” With reference to data from Colliers International.
In terms of real estate purchasing activity in Thailand, Russians (25%) are in second place after the Chinese (60%) and ahead of the French (10%).
Firstly, Russians are attracted by relatively low prices. As experts state, apartments 400 meters from the beach can be purchased for approximately 100 thousand dollars, while villas with pools and gardens can be purchased for 700 thousand dollars.
The second is the opportunity to earn income by renting apartments to tourists. According to Irina Mosheva, managing partner of Intermark Global, such apartments with fixed income are in great demand.
In addition, direct flights to Thailand and the country’s stable jurisdiction attract Russians. According to data from Colliers International, Russians bought half of the 14.5 thousand apartments and villas in Phuket in 2023.
Mikhail Bulanov, managing partner of foreign real estate brokerage Tranio, estimates that the Russian share of the island’s apartment market is over 50%. He notes that interest in properties in Bangkok as a more professional investment is increasing among his compatriots.
Before that it was known how many spent Russians will buy housing in the UAE in 2023.
previously economist appreciated The idea of introducing subsidies for Russians to buy apartments.