How does the Phuket real estate market feel after the closure of the borders?

When will the borders of Thailand be opened? Sea lovers are very concerned about this issue! After reading the article from Sky Property, you will find out when it will be possible to buy tickets and pack your things, looking forward to a trip to a tropical paradise.

Let's take a look at the prerequisites for opening the border and fully restoring the flow of those who want to relax in the same volume. In addition, we will address the issue of restoring consumer demand for real estate. This will be especially important for people who are interested in buying or selling real estate in Phuket

In principle, even today the borders are not completely closed.

You can enter the country with a certain type of visa through a quarantine that lasts 14 days (in practice, this is exactly 15 days, since the countdown starts from day zero). Preparations are beginning for the opening of a special program of long-term tourist visas, also through quarantine.

Mass tourism is looking forward to the full opening of the borders and the removal of all restrictions. And Thailand expects a reduction in the tension associated with the pandemic in other states. As we know, Thailand today ranks first in the world in terms of the effectiveness of the fight against coronavirus. At the moment, there are no cases inside Thailand for several months. But the coronavirus is detected in foreign citizens arriving in the country and local residents returning from abroad. For this purpose, you need a quarantine on arrival to protect yourself from another wave of the epidemic.

It is obvious that we should expect the lifting of the quarantine on arrival and an increase in the categories of foreigners who will be able to get to Thailand, after the general improvement of the situation in the world. Now almost everywhere has started vaccination of the population, which will take about a year to complete. Apparently, the full recovery of the flow of tourists can be expected by the beginning of the next season in 2021. Everyone will, of course, be happy if this happens earlier, but I would like to believe that not later.

Following the restoration of the usual volume of the flow of tourists, the sale of apartments in Thailand will also return to the previous volumes. In Phuket, prices never fall. In times of crisis, the market simply freezes waiting for the previous volumes. The number of incomprehensible proposals for "anti-crisis cost" is very much exaggerated by some agents. Really good objects with a big discount are not often found. Mostly in cases of extreme need for sellers. And as you know, in Phuket, most people do not buy real estate with their last funds. As a result, sellers simply wait out an unsuccessful period, which lasts no more than 1-2 years, and the property saves their investment for the future. 90% of the options that are currently offered allegedly with large discounts are options that could not be sold at a good price before. A profitable option will be appreciated only by a professional.

Our company has been working with any real estate for over two decades and will be happy to help you choose a worthwhile offer on the market.