Thailand Property Market with Damian Sung

Thailand Property Market with Damian Sung

This is one part of the full interview we had with Damian at Asia Bankers Club, a physical asset investment club with an extensive focus on the overseas real estate market in Southeast Asia. In this part, we are going in-depth in Thailand. Thailand has been known to be one of the top tourist destinations and the country’s economy is strongly tied to tourism. As COVID has lingered around for more than a year, Thailand’s real estate market has been deeply affected. Is that a good time to invest? You can find the other interviews from Damian and more about him in the show note or our blog –

這是我們跟Asia Banker’s Club 的Damian Sung 完整訪問的其中一部份。Asia Banker’s Club是一個實體資產投資社,專注東南亞的房地產投資。我們會在本集深入探討泰國。泰國一向以旅遊業揚名,泰國的經濟亦與旅遊業息息相關。當新冠肺炎持續了超過一年,泰國的房地產業亦深受影響。這是一個投資的好時機嗎?你可以在我們的影片介紹及網誌 中找到和Damian的完整訪問。

Key Discussions

  • Why Invest In Thailand
  • Need to be aware of when buying a property in Thailand
  • Underrated & overrated regions in Thailand
  • Invest now or later

I get the feeling that you need to have good relationships with the locals or have the locals be part of the investment in order to get some potentially good projects. Also, there may be markets that only locals would be able to weave out. This is an important factor if you are interested in investing in Thailand. I’d suggest to start studying the market and explore potential opportunities as there might be more distressed projects to explore. Be patient and start building relationships with the agents to find good projects.


▶ About the guest:

Damian Sung is a Sales Director at Asia Bankers Club. They are a physical asset investment club with an extensive focus in the overseas real estate market in South East Asia including Vietnam, Cambodia, and Thailand. They have a pipeline of exclusive projects in these countries throughout the year, and host a series of weekend seminars.

▶ Connect with the guest

▶ Source & Supporting:

Rental yields: Rental yields is the amount of profit earned from renting a property one invested in.,will%20earn%20on%20your%20investment.

▶ Transcript [English & Chinese]

English Transcript:

Darren Wong :

So Damian, you know how we talk about 

different parts of Southeast Asia? So what’s going on in Thailand right now?

Damian Sung :

I’m in Thailand, because of COVID, the tourist market just 

died. So the rental actually has been affected, you don’t have a lot of people coming in. So the rental markets are 

down. People can travel there to buy properties, so the property markets is a little bit down. 

COVID really put them on a stop right now.

Darren Wong : 

I see. For Thailand real estate market, for people who want to invest in Thailand, 

what are a couple of key points that they should know that why they should invest or not invest.

Damian Sung : 

So for Thailand market for Hong Kong buyers, 

usually they look for their second home. If they had to move out of Hong Kong, they look for Thailand. There’s good food, 

good environment, very good public transportation, very good network of international schools, and good health care. 

And it’s easy to get retirement visa in Thailand.

Darren Wong : 

I see. When people invest in Thailand, 

what are things to be aware of? Again, what are differences between other countries in Southeast Asia? Is there a different way to look at or evaluate a 

project in Thailand compared to other countries?

Damian Sung : 

Yes, so people have the conception of that Thailand, especially Bangkok, is very 

oversupplied, which is true in the sense where they do have a lot of developments going on. But if a good project here at BTS or MRT 

near a very good public transportation area, the project gets sold out. We had a project back in q4 of 2020. Right next to be BTS about 200 metres 

away for 98% sold out. Another thing is foreigners are allowed to buy up to 49% of the net area of 

the building. So a lot of foreigners are able to buy these nice projects. The downside is the developer usually 

sell out to the locals, especially the projects near the BTS but very good location. So people still read 

articles saying that Thailand’s oversupply, why should I buy? The local Thailand people are still buying good projects, and it gets sold out.

Darren Wong :

I see. At the same time is that is there any 

area you think is overrated or underrated?

Damian Sung : 

Right now, I’d say Phuket has been hit the hardest, because 

of no tourists. So people that invest in Phuket probably four or five years ago, they’re just feeling it right now 

because the whole town is empty. It’s good and bad, people that want to buy Phuket now, they could probably get a very good deal. 

For people that bought four or five years ago, I’m sure the capital gain is up there, but the rental yields are not there for the past, I’d would say, eight to nine months. So that’s 

the downside.

Darren Wong : 

I see. So obviously foreigners always looking to Phuket and Bangkok, right? Is there any other 

hubs that you think there’s a potential there?

Damian Sung : 

So there’s a area called Hua Hin. So Hua Hin is about three-hour drive from Bangkok. That area 

is very known for a weekend getaway for the rich Bangkok, local Thai people. So the foreigners, they go to Pattaya, or they go to 

Phuket. But the local Thai people, they’ll drive to Hua Hin. That’s where the king had his cat, the castle. Very 

nice beach, very relaxing, nice golf course. Even a lot of the Koreans are actually, before COVID, they’re actually flying to Hua 

Hin. They’re going to Hua Hin, they can’t fly directly. They have to go to Bangkok and take a three hour car ride. But they’re looking into Hua Hin one of the probably 

next weekend.

Darren Wong : 

And that’s our next retreat together, right?

Damian Sung :

If we can go.

Darren Wong : 

If we can go and we have some cocktail on the beach and everything like that.

Damian Sung :

The project that we sold was maybe 200 

something metres from the beach.

Darren Wong :

Really? Oh, okay. Where’s my invite? 

Damian Sung :



Darren Wong :

So add on to the answer you have just now, which obviously it’s good to know about what things are going on and unfortunately the market’s going down. 

However, from a different point of view, do you think now’s a good time to really consider because now everything’s going down, and obviously, there might be distressed assets to look into, right?

Damian Sung : 


people look for distressed assets. A lot of developers are probably putting a lot of development on hold. They’re not launching projects, 

some developers very aggressive, they’re pushing. But if done so well, project sold out. They have another project that’s nearly sold out. 

So it all depends. Distressed asset, there’s a reason why they’re selling for cheap.

Darren Wong : 

I see. 

Damian Sung :

There’s a reason why the projects that 

we’re selling, there’s no big discount, because it’s a good project. We’ll have a good capital gain in the future.

Darren Wong : Well, speaking of 

projects, do you have any project in your hand right now?

Damian Sung :

For Thailand, the one that we had last quarter, that one’s nearly sold out. We do have 

other projects that’s off plan. 

Darren Wong : 


Damian Sung :

Again, only selected weekends are the year that we can have seminars, so 

if a client wants to get to know more about the project, they’ll contact us. We’ll do a one-on-one private consultation.

Darren Wong : 

That’s great. Thank you so much for your time. 

Thank you.

Chinese Transcript:

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