The Coronavirus pandemic has impacted virtually every industry and turned the world on its head. Two years on, the future remains uncertain.
Few sectors have been hit as hard as tourism these past two years. The flourishing Phuket and markets fortunes have suffered as they have been so closely tied in the past to Thailand’s tourism boom.
Still, an upended and uncertain economy always presents potential opportunities. This is arguably the best time to dabble in the real estate market. Rental revenues are slowly rebounding after 18 months but holiday villas are still available with deep discounts from motivated sellers so savvy buyers can bag a deal.
It’s the optimal time to buy below market value and then wait for prices to increase again as normality returns. It’s a waiting game. Tourism will creep back up to pre-pandemic levels once the Chinese start travelling overseas again. This is the post-pandemic driver, creating a valuable asset for you and the prospect of profiting from flourishing tourism market again with steady rental income.
Historically, Thailand property investment has always been a safe bet. It’s a resilient market that has traditionally recovered well after various economic and political challenges over the years.
There are attractive luxury properties with deep discounts right now. Browse our Covid discount properties in Thailand.
How has the pandemic impacted the market?
Although Thailand tourism is taking small steps on its recovery path, there are still restrictions putting off prospective buyers viewing properties in person. This is where technology can bridge the gap.
Virtual property tours are taking off with viewing via Zoom, which is as near as you can get to actually being there. Starting your hunt from home via video viewing immediately gives you a head start before Thailand becomes crowded with would-be property investors again. Now is absolutely the right time to score an attractive deal before demand starts driving up prices again when the world gets back to normal.
There could also be some unintended long-term benefits brought on by the pandemic. It could fundamentally change the way we live and work forever. The rise of remote working is an opportunity for professionals to re-evaluate the work-life balance. Being able to work offshore away from crowded offices is becoming appealing and in some firm it’s becoming the norm.
A luxury villa in Koh Samui or Phuket offers a more appealing option, and a more alluring lifestyle choice.