Where to Look for Luxury Real Estate in Thailand?
Thailand is one of the top five resort destinations globally, and real estate in Thailand continues to attract investors. Today, many foreign nationals choose the country as their primary residence, drawn by the possibility of acquiring affordable properties in a paradise with sea views. The favorable visa conditions further enhance Thailand's appeal for investment.
The most popular regions among foreigners are also the most expensive to buy property. These include the islands of Phuket and Koh Samui, the capital city Bangkok, the royal retreat of Hua Hin, and Pattaya, a coastal city loved by tourists.
CONTENT:
- Phuket
- Koh Samui
- Hua Hin
- Bangkok
- Pattaya
Before we dive into the details of each region, here are the average apartment prices for each area at the beginning of 2023:
| Area | Average cost per m² | Price range for apartments |
|---|---|---|
| Bangkok | $4,250 | $41,290−$14,864,573 |
| Phuket | $2,576 | $30,586−$4,991,876 |
| Hua Hin | $1,872 | $68,817−$1,272,481 |
| Pattaya | $1,590 | $18,237−$10,704,939 |
| Koh Samui | $834 | $54,308−$1,281,381 |
PHUKET
Phuket is a dream destination for many affluent individuals. This resort town offers an international airport, international schools, kindergartens, hospitals, entertainment venues, and stunning beaches, providing everything needed for a comfortable modern life.
Most of the real estate on the island is located along the coast, as the central area is a nature reserve where construction is prohibited. Phuket has numerous private houses and villas, with prices starting at $122,000 for a modern 3-bedroom house with a swimming pool and a 108 m² plot.
For those seeking ultra-luxury, Phuket offers exclusive properties, such as a 4-bedroom villa with a plot of over 10,000 m², listed at $21.35 million in February 2023. This villa is situated on a hill with breathtaking sea views and lush greenery, just a short walk from the beach. You can also find luxury properties along the beachfront.
Elite apartments are also available in Phuket, such as a penthouse priced at $5 million, located less than 100 meters from the sea. High-rise buildings are not allowed on the island, with a maximum of 8 floors. Prices for affordable 1-bedroom apartments in complexes with amenities like swimming pools start at $30,500.
Real estate in Phuket is highly sought after for investment purposes, offering potential passive income. Many foreigners purchase apartments, villas, or properties managed by hotel companies. In these cases, the hotel management takes care of the property, and the owner earns rental income. In recent years, branded residences (larger than typical hotels) have gained popularity among investors.
Property values on the island increase each year due to limited available land, providing investors with future opportunities to profit from reselling their homes.
KOH SAMUI
Koh Samui is the second-largest island in Thailand, after Phuket. The island has an international airport with flights both within the country and to nearby destinations. Although Koh Samui has less infrastructure compared to Phuket, it is perfect for those seeking privacy and pristine natural beauty. The island's terrain is mostly mountainous, giving way to white sandy beaches and coconut palm groves.
On Koh Samui, you can find beautiful villas. The most expensive property available is a 5-bedroom villa with a large swimming pool, luxurious furnishings, and stunning views from the windows. Located near a golf course and just a 15-minute drive from the airport, this mansion is priced at just over $9.15 million.
For those looking for more affordable options, prices for townhouses and villas on Koh Samui start at around $67,000. For example, in February 2023, a 2-bedroom townhouse of 94 m² was listed for $67,288.
Currently, the island offers over 100 apartment options in low-rise buildings, just a minute’s walk from the beach. Prices start at $54,308 for a studio of 25.9 m² in a complex with amenities. The highest-priced apartments on Koh Samui reach $1.2 million for a spacious leasehold property in an elite residential complex in the central part of the island.
HUA HIN
Hua Hin is a small coastal town on the mainland, known for its relaxed pace of life. Its proximity to an international airport makes it easily accessible. Hua Hin attracts families, as the town has little nightlife but offers a wide variety of daytime entertainment and good social infrastructure. The town features a 5 km long white sandy beach.
The local residential complexes are mostly 7-storey buildings, which are quite new, having been constructed only a few years ago. The starting price for apartments in Hua Hin is $68,800 for a 42 m² unit with 1 bedroom. Coastal real estate can reach up to $1.2 million, for example, a luxurious 3-bedroom apartment near a pristine beach.
Villas in Hua Hin start at around $45,000, for example, a 2-bedroom townhouse. The most expensive property in Hua Hin, as of February 2023, is a 200 m² mansion with 4 bedrooms and panoramic sea views, priced at $2.4 million.
BANGKOK
Bangkok, the capital of Thailand, has two international airports. The city offers a vibrant lifestyle with numerous amenities and entertainment options. Bangkok is rapidly developing with new skyscrapers and office centers being built, and it has become a favorite for foreign freelancers. In 2022, Bangkok was ranked in the top 10 cities worldwide for ex-pats.
The city offers a wide range of luxurious properties, from apartments and penthouses to duplexes. In February 2023, Bangkok had several thousand properties listed for sale, including over 400 luxury options priced from $1 million. Foreign nationals can purchase a 1-bedroom studio of 38 m² for $41,000. The most expensive property in Bangkok in the first quarter of 2023 is a two-storey penthouse with 4 bedrooms, a terrace, and stunning views of the city and the Chao Phraya River, priced at $14.8 million.
Bangkok also has single-family homes for sale, though the selection is limited. Prices start at $88,500 for a modern 2-bedroom townhouse and go up to $6.25 million for a 4-bedroom house with 2,376 m² of living space.
PATTAYA
Real estate prices in Pattaya, when measured by price per square meter, are generally lower compared to the other locations mentioned. However, Pattaya still offers luxury residences that are in high demand.
You can purchase a modest home for as little as $45,878, for example, a 100 m² house with 2 bedrooms. For wealthier buyers, Pattaya has a range of properties priced at $1 million or more. The most expensive villa in the city is a custom-built 5-bedroom mansion of 2,900 m² located on the coast, priced at $11.78 million.
Pattaya also offers a variety of apartments, from newly built luxury mid-rise complexes to skyscrapers. Apartment prices start at $18,300 for a 26 m² studio, with the most expensive option being a two-storey penthouse of 1,260 m² with 7 bedrooms, a large private terrace, and a pool, located just a 5-minute drive from the beach.