{"id":4008,"date":"2023-10-21T15:31:25","date_gmt":"2023-10-21T08:31:25","guid":{"rendered":"https:\/\/arcadiaconsult.com.vn\/?p=4008"},"modified":"2023-10-21T15:46:38","modified_gmt":"2023-10-21T08:46:38","slug":"foreigners-account-for-18-8-of-new-property-bought-in-bangkok-agency","status":"publish","type":"post","link":"https:\/\/arcadiaconsult.com.vn\/en\/foreigners-account-for-18-8-of-new-property-bought-in-bangkok-agency\/","title":{"rendered":"FOREIGNERS ACCOUNT FOR 18.8% OF NEW PROPERTY BOUGHT IN BANGKOK: AGENCY"},"content":{"rendered":"<p><strong>The Agency for Real Estate Affairs (Area) projects foreigners will buy 27,741 residential properties in Thailand this year worth a total 161.56 billion baht.<\/strong><\/p>\n<div>In metropolitan Bangkok, foreign buyers accounted for 18.8% of new-property transfers in the first half of this year, up from 11.1% last year, said Area\u2019s president Sopon Pornchokchai.<\/div>\n<div>Before the Covid-19 pandemic in 2019, foreign buyers accounted for 15% of the value of residential properties sold in Bangkok and its suburbs.<\/div>\n<div>This year, the agency projects that foreigners will purchase 4,203 residential units in metropolitan Bangkok, totalling 20.36 billion baht.<\/div>\n<div>Chinese buyers are expected to lead the way with purchases of 1,937 units, amounting to 7.24 billion baht. The most popular areas for Chinese buyers are Ratchada-Huay Kwang with 731 units, followed by Bang Na-Thepharak with 625 units, and the central business district with 223 units, Sopon added.<\/div>\n<div>For properties nationwide, foreigners are projected to purchase 13,200 units, or 6% of the total. This forecast includes both new and second-hand units.<\/div>\n<div>Property transfer fees and taxes on the total 161.56 billion baht of purchases by foreigners this year would yield about 4.85 billion baht (3% of total value).<\/div>\n<div>However, the rise in foreign buyers may not significantly stimulate the Thai economy as many properties may be rented out to locals.<\/div>\n<div>Additionally, if these properties are rented out, the income generated might not go back into the Thai economy, Sophon said.<\/div>\n<div>Also, illegal purchases or property transactions made through nominees will deprive the government of property tax revenue.<\/div>\n<div>Meanwhile, temporary visa measures, particularly for Chinese nationals, are expected to boost the market. Some experts even believe that foreign buyers might contribute positively to Thailand&#8217;s tourism industry, though this would require efforts to enhance the country&#8217;s image and attract more tourists, Sophon added.<\/div>\n<div><a href=\"https:\/\/www.nationthailand.com\/business\/property\/40031977\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Agency for Real Estate Affairs (Area) projects foreigners will buy 27,741 residential properties in Thailand this year worth a total 161.56 billion baht. In metropolitan Bangkok, foreign buyers accounted for 18.8% of new-property transfers in the first half of this year, up from 11.1% last year, said Area\u2019s president Sopon Pornchokchai. Before the Covid-19&#8230;<\/p>\n","protected":false},"author":5,"featured_media":4009,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[93],"tags":[],"class_list":["post-4008","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/posts\/4008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/comments?post=4008"}],"version-history":[{"count":0,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/posts\/4008\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/media\/4009"}],"wp:attachment":[{"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/media?parent=4008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/categories?post=4008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arcadiaconsult.com.vn\/en\/wp-json\/wp\/v2\/tags?post=4008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}