The country's second city of Chai Mai is tipped by experts to become a popular investment choice thanks to the construction of a new highway that will connect the city to Kunming, southwest China.
According to BuyAssociation, the property market has "sprung out of nowhere", attracting interest from overseas buyers who take advantage of the country's lure as a "luxury holiday location".
Investors are also pointed toward the city of Bangkok or southern beach resorts in order to "get a foot" on the property ladder.
Thai law prevents foreigners from owning land meaning "apartments are the more common choice" for property investors.
After the tsunami of 2004 caused severe damage in 2004 and with health risks such as avian flue posing a risk to south-east Asian countries, investors are advised to take comprehensive legal advice before buying in the country.
The Thai government's latest Board of Investment survey revealed that foreign investors from Japan, Taiwan, Singapore and the US currently make up the majority of foreign investors.