Discover a golden opportunity to invest in resale real estate: "Invest little, gain big," defying the economic slowdown.
Chatchawal Wattanachot unveils his "Small Investment, Big Returns" strategy using BAM's asset management tools to overcome the limitations of soaring household debt. He highlights the strengths of undervalued NPA (Non-Performing Asset) properties in prime locations, capitalizing on the growing demand from young professionals and expat workers. He reveals a secret formula for renovations to increase value and generate 35-60% profit, emphasizing that real estate is a profession that AI cannot yet replace.
9 May 2569 – Chatchawal Wattanachot, a real estate investor. I had the opportunity to share my vision on the topic. "Investing in real estate doesn't require a large sum of money." At the booth of Bangkok Commercial Asset Management Public Company Limited (BAM) inside...The 26th Bangkok Money Expo (MONEY EXPO 2026 BANGKOK) They stated that currently, the general public may perceive the real estate market as filled with negative signals and bad news, including declining property transfer figures, unsold inventory, and high levels of household debt that impact purchasing power.
However, from an investor's perspective, Chatchawal points out that even in weak economic conditions, it presents a golden opportunity for real estate investment. Property prices fall to very low levels, allowing for high profits with minimal investment. This is a crucial "golden opportunity" for those who understand market conditions, especially if they have effective tools like BAM to support them. This allows them to significantly generate high returns with minimal investment.
Real Estate Insights 2026: Low Interest Rates and Long-Term Loans – Positive Factors in the Last 10 Years
Compared to 10 years ago, current investment opportunities are significantly more attractive. The average interest rate is currently around 2-3%, and loan terms can be extended for up to 30-40 years, a stark contrast to the 5-6% rates soaring 10 years ago. This lower interest rate environment, coupled with lower property prices, has resulted in higher rental yields.
Furthermore, even though most people today face high household debt levels that make it difficult or impossible to obtain housing loans, the demand for housing remains real. This has led these groups to opt for renting instead, especially young graduates who tend to prefer renting properties in central city locations for convenience in their careers or office areas.
Non-performing assets (NPAs) are a rising star in the era of tight bank lending regulations.
Although the overall real estate market today doesn't look very bright, some clear signs of growth are beginning to appear. One notable trend is the steadily increasing number of second-hand properties in the market. Previously, the ratio of new to second-hand sales was approximately half and half, but now the second-hand market is experiencing remarkable growth. This is due to their more affordable prices and tendency to be located in better locations than new projects.
Due to the economic downturn, many people are facing debt problems and need to sell their properties. This has resulted in a surge of attractive second-hand properties in prime locations available for prospective homebuyers and investors. Furthermore, real estate in Thailand remains relatively inexpensive because over 70% of the population currently struggles to secure loans, coupled with stricter lending criteria from commercial banks, leading to a decrease in property transfers.
This situation has resulted in a large amount of outstanding assets in the system, both in the form of non-performing loans (NPLs) and non-performing assets (NPAs). With such a large inventory in the market, prices naturally fall, creating opportunities for investors with a wider range of options and increased bargaining power.
"Previously, prime properties in desirable locations were snapped up very quickly because they were high-quality assets. Therefore, investing in real estate doesn't mean you'll never have any left over. Especially with the current economic downturn, many attractive and desirable properties are entering the market and becoming Non-Performing Assets (NPAs)."
High cost of living and healthcare are attracting foreign workers and affluent retirees to boost the real estate market.
Regarding the question of whether NPA (Non-Performing Asset) properties or real estate in Thailand are still worthwhile to buy, Chatchawal commented that even though Thailand is entering an aging society with a declining birth rate, from an investment perspective, Thai real estate still has very high potential for several important reasons.
ประการ แรก It refers to the influx of a large number of foreign workers, especially from Myanmar and Laos, who come to work in Thailand to escape unrest and economic problems in their own countries.
secondly Thailand has been ranked among the top 10 best countries for retirement in the world, thanks to factors such as low cost of living, delicious food, pleasant weather, affordable real estate, and most importantly, a world-class medical system.
When compared to countries with similar infrastructure, including rail systems, airports, and roads, real estate prices in Thailand are more than five times cheaper than in Singapore. Furthermore, major tourist cities like Pattaya and Phuket are even cheaper than Vietnam. Importantly, the Thai baht remains strong compared to other currencies in the region.
Turn "lost assets" into hundreds of thousands of baht in profit in 6 months.
For investors looking to start in the resale real estate market, the typical process involves obtaining a loan to purchase property, using the proceeds for renovations, and then facing various costs when reselling, including brokerage fees, transfer fees, taxes, and mortgage registration fees. Furthermore, selling too quickly can negatively impact net profit due to specific business taxes.
However, if investors choose the right process, selecting pre-owned properties in good condition, in good locations, and at a lower price than new ones, they will find that value-conscious buyers often view beautifully decorated pre-owned properties in better locations and at a lower price as an excellent option. This represents a significant opportunity for profit.
"If we find a room that's not very attractive but has a good location, we can buy it and renovate it, changing the lights and painting. The price can jump from 1.5 million baht to 2.1 million baht, making a profit of 600,000 baht, or a return of approximately 35% in 5-6 months."
Chatchawal also suggested additional properties that are of a certain nature... "Old shophouse" หรือ "Property in dilapidated condition" This is a very interesting opportunity because most commercial buildings are located in excellent locations, on main roads, have large usable areas, and have simple structures that can be renovated and divided into rental rooms to accommodate students or working professionals.
"Even dilapidated properties offer more opportunities because we renovate and decorate them anyway. Therefore, the more 'dilapidated' something is, the better, because it's cheaper, allowing us to significantly increase its value. A building that used to have only one tenant can be subdivided into many rooms for rent, generating more income. So, having knowledge of real estate and recognizing opportunities in price differences—even old, unattractive but debt-free properties—can be renovated to look good, and whether we resell or rent them out, we can make a profit."
Renovate in 3 levels: Invest wisely, decorate to appeal to the market, and avoid budget overruns.
Renovation to increase property value is divided into three levels based on the intensity of the work, as follows:
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- Mild improvement For example, repainting and redoing the flooring to give it a clean and beautiful look can be done with a budget of only 3-7% of the property price, or approximately 60,000 – 100,000 baht.
- Intermediate improvement The workload started to increase, such as renovating the bathrooms and kitchen, which required more effort and a budget of approximately 2 to 3 baht.
- Significant improvements This involves plumbing and internal structural work, which Chatchawal advises avoiding unless the structure is severely damaged, as the budget tends to spiral out of control and may result in property being seized.
"Therefore, you need to choose a good location with potential for profit, buy low but sell at a high market price, and avoid major structural problems."
Furthermore, there are things to avoid when renovating: decorating according to personal taste using excessively expensive items, risking living in the property yourself. Generally, clients prefer a clean, uncluttered look at a reasonable price. Also, don't overspend on areas the buyer may not value, such as a garden. Focus on investing in essentials like sanitary ware, paint, and flooring. Finally, have a contingency plan in place for potential property devaluation or rental income.
Unlocking the secrets of the "prime location - a hub of employment": a top-tier, unrivaled prime location.
When buying a second-hand property, you should focus on the following three types of locations:
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- Locations where no new projects have already been developed: For example, condominiums or townhouses in densely populated areas with no vacant land for new projects, such as Sukhumvit, Ekkamai, and Punnawithi. This means we won't have to compete with new projects.
- Prime Location: Or the "prime" zone, like the Ari area. Some older projects benefited from the old city planning laws, but new projects cannot be built due to EIA (Environmental Impact Assessment) restrictions. This makes older buildings in this area very valuable.
- Location near employment hubs: Due to high rental demand, areas such as Ratchada, Rama 9, Asoke, and On Nut, which are home to many large office buildings, tend to offer more affordable prices for tenants compared to new projects with high land costs.
"Otherwise, Thais won't seize this opportunity to make money, which would be a missed opportunity. Especially with BAM, there's BAM Select, which offers renovated, ready-to-move-in properties at prices still below market rates, including single houses and condos. This means that if you lack knowledge but want a good job without financial obligations, BAM is a good option."
Break down investment limitations and unlock 60% profit with an interest-free and transfer-free model.
In the past, buying second-hand properties for renovation required cash or bank loans, incurring costs such as brokerage fees, mortgage registration fees, and multiple transfer fees. This differed from investing in stocks, which have higher liquidity, while real estate takes time to change hands. However, BAM is now collaborating with partners to support investors who want to buy properties for renovation and then sell or rent, helping to reduce the burden of multiple transfer fees and high taxes.
BAM's project offers investors the opportunity to reserve a property with a deposit of only 300,000 baht and a 7-month timeframe for the process. During this period, investors can begin renovations, decoration, and marketing, with no interest charged. If the sale is completed within 7 months, BAM will directly transfer ownership to the new buyer, eliminating initial transfer fees and allowing investors to qualify for free transfer fees under certain conditions.
"The advantage is that we use a small amount of money to achieve a big return (profit). For example, we bought it for 2 million baht, but only actually invested 300,000 baht, plus 250,000 baht for renovations, for a total budget of approximately 550,000 baht. However, we were able to make a profit of around 300,000 baht, or 60%."
Chatchawal concluded with confidence that the Thai real estate market continues to grow strongly and can remain a stable career, as it is one of the few professions where artificial intelligence (AI) cannot yet replace humans in every step of the process.
