The Influencing Factors of Decision to Invest in Thailand’s. Real Estate Market: The Case of Taiwanese Investors

Abstract

The Thai real estate market has become an attractive destination for international investors, with Taiwanese investors showing growing interest due to Thailand’s stable economic growth, affordable property prices, and vibrant tourism industry. However, the factors influencing Taiwanese investors’ decisions, as well as the challenges they face in this market, remain underexplored. This study aimed to identify the key factors that drive Taiwanese investment in the Thai real estate. To provide a more comprehensive analysis of these factors, the study applied the 7Ps service marketing mix framework—Product, Price, Place, Promotion, People, Process, and Physical Evidence—as a guiding structure. This framework is especially relevant in the context of real estate investment, which involves service-oriented components such as property management, interpersonal interactions, and experience-based decision-making. By using the 7Ps approach, the study was able to systematically assess how both tangible and intangible service elements influence Taiwanese investor behavior. This research used a quantitative approach, relying on a structured survey to gather data from a sample of 192 Taiwanese investors interested in or currently invested in the Thai real estate market. Respondents were selected through a combination of online recruitment and referrals from real estate agencies. Data analysis included descriptive statistics to outline demographic profiles and factor analysis to identify significant influences on investment decision. The study concluded that Taiwanese investors prioritize long-term stability, legal transparency, and property management reliability over short-term financial incentives. Key findings indicate that location, rental yield potential, and property quality are the most important factors, while legal clarity on foreign ownership and reliable property management services also significantly influence investment decisions. Unexpectedly, investors showed considerable interest in suburban properties and placed less emphasis on promotional offers, highlighting a focus on stable, lifestyle-oriented investments. Additionally, environmental quality and access to familiar amenities were important for those considering long-term residency. In conclusion, the findings suggest that Thai real estate companies targeting I Taiwanese investors should emphasize properties with clear legal frameworks, strong property management services, and stable growth potential. Providing properties in suburban areas with a comfortable lifestyle environment, international community access, and reliable infrastructure could further enhance appeal for this demographic. Future studies should broaden the sample and examine less popular investment regions in Thailand to deepen insights into Taiwanese investment behavior and preferences.

Keywords: Taiwanese investors, Thai real estate market, investment decision.

6617190055 CHENG HSU-TING, Advisor: ดร.วรางค์รัตน์ นิติวนะกุล – Dr.Warangrat Nitiwannakul, สารนิพนธ์ (Independent Study), The Influencing Factors of Decision to Invest in Thailand’s Real Estate Market: The Case of Taiwanese Investors, นำเสนอในที่ประชุมวิชาการ (Conference), The 1st Thailand-Sino International Conference and The 17th National and International Academic Conference, ปริญญาโท (Master’s Degree), บัณฑิตวิทยาลัย (Graduate School), Master of Business Administration, International Business Management, Siam University, Bangkok, Thailand – มหาวิทยาลัยสยาม กรุงเทพมหานคร ประเทศไทย