WORLD EXCLUSIVE: Hot on the heels of yesterday’s news about the prominence of Chinese buying in Thailand, a new survey has revealed a decrease in the number of Russian property buyers looking at Thailand during the first five months of this year.
Data from an annual survey from Tranio.com, a Moscow-based international property portal, surveyed 476 real estate agents in 33 countries that work with Russian buyers.
The survey, whilst including residential information, also focused on commercial property.
Thailand appeared outside the top ten popular locations for Russian buyers in 2017.
For Russians buyers and those from the CIS, cafes and restaurants were the most popular commercial property investments during 2017.
Average prices for Russian property and real estate buyers in Thailand was noted as being up to € 150,000 (THB 5.6 million) for residential properties, and up to € 1 million (THB 37.5 million) for commercial property
The survey also noted that Russian investors expect higher yields in Thailand than in other countries. In Thailand they expect 8.7 percent returns versus the global average of 6.7% percent.
In our opinion that’s only possible with short-term investments that offer guaranteed returns, which themselves are gaining in popularity in Thailand.
Tranio.com also reported that Russian investors plan to resell their Thailand properties in just 4.9 years, while the global average is 6.8 years.
Managing Partner of Tranio.com, George Kachmazov, told ThailandProperty.News in a statement: “There is a lot of speculative development in Thailand. Investors want to build fast, sell fast and earn a lot of money all at once.”
“It is an active market, but there is little liquidity. Those who invested can hardly sell their properties now”.
He added that about 40 percent of Russian investors participate in value-added projects in Thailand which is much higher compared with other counties where the average number is 12 percent.
When it comes to residential property, and solely from our own experiences, and based on the statistics we get from our enquiries, we can say that from Tranio.com leads statistics, the number of enquiries for Thailand property during the first five months of 2018 from Russian-speaking clients is down about 30 percent compared with the same period in 2017.
This could be a result of fewer Thailand property agencies and developers marketing to this apparently declining demographic.
Currently the portal has just less than 1,000 property listings for Thailand property.
He added that, right now, the median budget for Thailand residential property based on enquiries is € 130 000 (THB 4.8 million.
The most popular locations for Russian buyers in Thailand are currently Phuket, Pattaya and Koh Samui.
Pictured: A Phuket furnished condo listed on Tranio.com priced at US$ 118,000 (THB 3.7 million).