Dwelling Construction to Witness Significant Growth in Thailand's Major Tourist Destinations

Thailand: In contrast to Bangkok, which only managed to introduce 2,300 condo units, Phuket and Pattaya both surpassed the 3,000-unit mark. With a total value exceeding 56 million baht (US$ 1.52 Million), this transition surpassed Bangkok's real estate market for the first time in fifteen years. Phattarachai Thaweewong, director of research and communications at Colliers Thailand Company, emphasised the substantial influx of investment capital, which was concentrated predominantly in Phuket, Pattaya, and Hua Hin, three popular tourist destinations. Phuket witnessed the debut of twelve new condominium projects in the first quarter of 2024, totaling 3,338 units and valued at over 25 billion baht (US$ 682 K).