Thailand Weekly Vol. 60
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Good evening from Bangkok, Thailand! Coming at you from a VERY tame city these days… all thanks to low season. I gotta say though, I sort of like it. Anyways, Volume 60 inbound. Cheers! 🇹ðŸ‡
Foreigners Driving 200% Surge In Luxury Property Sales
Since the latter half of 2022, there has been a remarkable surge in foreign interest in Thailand's luxury property market, leading to a significant increase of over 200% in sales transactions through CBRE, who represents a diverse portfolio of 30 prestigious residential projects, collectively valued at over 40 billion baht. Notably, 58% of these projects cater to the luxury and super-luxury housing segment, while 40% are dedicated to luxury condominiums. The remaining 2% focuses on villa developments. Asian buyers, particularly from China, Hong Kong, Taiwan, Myanmar, Singapore, and Japan, are prominently interested in condominiums and houses, while European buyers, including those from Russia, the UK, France, and Germany, exhibit significant interest in purchasing villas. The resort property sector also experienced substantial growth, with CBRE reporting a 24% increase in sales in 2022 compared to the previous year. Of particular note is the exceptional sales growth of 69% observed in villas and resort homes. Looking ahead, CBRE foresees a thriving long-stay market in Thailand.
Our Take
This is no surprise as more and more high-end/high net worth foreigners continue to come to Thailand not only as a vacation destination, but also as somewhere to call home. The push and pull factors that ultimately lead people to this magical place have never been so strong and I suspect that this is a trend that will continue to play out for the foreseeable future.
Thailand Voted 3rd Most Popular Country For Digital Nomads
Thailand has secured the third spot as one of the most favoured destinations for digital nomads based on data provided by resume.io, a platform offering resume and CV-building tools. In the rankings, Thailand follows the United States and Spain to claim the third position. Some of the most popular Thai destinations among digital nomads include Bangkok, Chiang Mai, Koh Pha Ngan, and Krabi. According to the report, the most sought-after destinations for remote workers living and working in the Kingdom are those that also function as marquee tourist spots (surprise surprise), offer up an affordable cost of living, have the necessary amenities to facilitate for remote work, and have minimal crime.
Our Take
Forget the actual ranking component of this story. I say that because I find it hard to believe that the US is ranked higher than places like Portugal, Indonesia, Thailand, Georgia, etc. as a digital nomad hotspot.
The point of this story and my reason for including it is the fact as soon as I read it (specifically the locations that were keyed in on), it made me think of how much opportunity there must be in places like Krabi, Chiang Rai, or Koh Chang for those wanting to serve remote workers and start businesses in that space. I’d say that as of right now, aside from Bangkok, Chiang Mai, and Koh Pha-Ngan, there’s still ample opportunity to jump in and start companies here in Thailand that cater to this growing crowd. High end co-working spaces Krabi. Think tanks in Chiang Rai. SEO conferences in Koh Chang. The list of things you could do to serve these people goes on and on and I suspect that this scene will continue to mature in the coming years.
Thailand Travel Tip - High Season Vs. Low Season
I get a lot of emails every week from those of you wondering what the best time of the year to visit Thailand is, so I decided to do a little breakdown of the different seasons and some of the pros and cons of each. Hopefully it’ll help you decide when to visit next!
High Season: This season runs from November to February and is the most popular time for tourists to visit Thailand. During this time, the weather is cool and dry, making it perfect for outdoor activities and sightseeing. However, it's important to note that this is also the busiest time for tourism, so prices for accommodation, flights, and attractions can be MUCH higher.
Shoulder Season: The two shoulder seasons fall on March and April and then September and October. It’s a transitional period between the high and low seasons where the weather starts to get extremely hot (in March and April) or extremely rainy (in September and October). During this time, there are fewer tourists, which means lower prices and less crowds.
Low season: The low season runs from June to September (with a slight uptick in July) and is characterized by heavy rain and high humidity due to the regional monsoons. While this may not be the best time for outdoor activities, it's a great time to experience Thailand without the crowds and also save lots of money on accommodation and flights.
Overall, the best time to visit Thailand depends on your preferences and what you want to do. My favourite time of the year here is November, because you start to get the cooler weather that’s always such a treat while also avoiding massive crowds and crazy traffic. Prices on hotels are also nowhere near peak levels yet.
New Yellow Line Monorail Gets Positive Reviews
Thailand's Yellow Line monorail trial run delighted commuters who gathered at Samrong station in Samut Prakan this past weekend to take the inaugural ride. The 30.4-kilometer line connects Lat Phrao in Bangkok to Samrong, with 23 stations. During the trial, service is available for 13 stations from Hua Mak to Samrong, providing a 30-minute travel time. The new Line aims to alleviate congestion on Srinakarin Road and enhance transportation convenience into the city. The monorail, operated by Eastern Bangkok Monorail (EBM), will begin commercial operations next month, with fares ranging from 15 to 45 baht. The Yellow Line integrates with the Green Line, Airport Rail Link, and Blue Line, while a future connection to the Orange Line is in progress. The trial run, offering free service until the end of June, operates from 9am to 8pm daily.
Our Take
I was actually planning on heading out to the Eastern Suburbs on opening day but wasn’t able to make it. From what I have heard and read though, it seems like it’s a great addition to that part of the city, and will be especially awesome once it’s fully connected to all of the other lines in the area based on the expansion map.
Only In Thailand 🇹ðŸ‡
In a bizarre clash on the streets of Bangkok, a food delivery rider decided to take justice into his own hands, quite literally. After illegally riding on a pavement, he gave a good ‘ole slap to the pedestrian who refused to move and blocked his path. The incident was caught on camera and went viral when the victim shared the footage on Facebook. While the rider made a swift getaway, the police are hot on his trail, scanning security footage to bring him to justice. Remember folks… Thai pavements are for strolling, not motorbike acrobatics! Stay safe out there and keep the slap fights to the boxing ring. Only in Thailand 🇹ðŸ‡