Increase in Thai Vacation Rental Property Market Increases the Potential for More Foreign Investments
The Thai vacation rental market is expanding and options for financed and part ownership of resort properties are constantly emerging. Holidaymakers and investors in Thailand are now on the lookout for more luxurious and larger accommodations, they are increasingly choosing private rental properties over hotels and beach resorts.
The market for private villas has diversified, with rich clients from China and Russia being drawn to Thailand. This influx has helped maintain and develop both the property rentals as well as sales market. There has been a dramatic increase in the number of last minute bookings for villa rentals and this is good, as the revenue from these larger, more extravagant villas is quite high.
Experts predict that Phuket will see a 25% increase in property sales to foreign clients this year. Phuket is Thailand's second largest foreign investment destination after Bangkok, followed by Pattaya, Chiang Mai, Samui, Hua Hin and Krabi.