Thailand Property

Bangkok, Thailand is one of the cities with a four-star rating according to Global Property Guide's assessment of rental returns in East Asian capitals, making it a popular destination for international investors. Property prices in Thailand have been rising between 2.5% and 6% in recent years, with Chiang Mai and Bangkok recording only small declines and Phuket recording the highest price increases in the last two years. Many people visiting Thailand are also buying properties for investment, holiday or even emigration purposes.

 

The rapid development of property in Thailand over the last decade has attracted many businesses and brands to the country, with well-known companies and multinational corporations locating there, supporting the steady growth of the Thai economy. This, coupled with the increasing emphasis on public transport and ease of living, has made Thailand a better place to buy or invest in, and has led to a surge in the Japanese population. Property prices in Bangkok have been rising by 5% to 10% annually. The current net rental return for properties in central Bangkok is around 4%, with some areas of greater potential reaching around 8%. The market has always rated Thai properties highly in terms of value for money, with quality properties with riverfront views costing only around HK$500,000 to enter as a glorified owner.

 

Bangkok Property

Bangkok is a truly cosmopolitan city with over 3 million expatriates among its 11 million permanent residents, who have settled there or are working there temporarily to enjoy the low cost of living and all the conveniences that come with it. With a number of favourable market conditions and forward-looking plans by the Thai government, local property developers are confident about the future of the property market and are launching new developments in Bangkok. Hong Kong people who buy in Thailand tend to buy open-plan or large flats, and those close to the MTR station and with good facilities in the surrounding area have an occupancy rate of over 85%.

 

Thailand is at the heart of the 10-nation region and plans are underway to build a Trans-Asian Railway to link the major cities of the South China Peninsula, with Bangkok being the hub of this railway system. The area around Bangkok has been planned as a future ASEAN-10 trade park, where a variety of new developments can be built.

 

This major development planned by the Thai government will lead to significant economic growth in the country, especially in Bangkok, which is the economic engine of the country, where property prices are set to rise. On the other hand, the local property market has always been in a state where demand exceeds supply, so Bangkok property prices are bound to continue to rise.

 

If you are looking to buy a property and rent it out, you should choose an area within 500 metres of a BTS station, as the heat in Thailand means that people do not want to walk home sweating after leaving the station, so Thai properties more than 500 metres away from the station are less popular. There is a wide choice of properties in Bangkok that are suitable for this area, with new properties in the $1-2 million range being highly sought after and rental returns of 5-6% expected.

 

The property market in Bangkok has been on a steady upward trend in recent years and has not experienced any jumping volatility, probably due to the abundant supply. The market generally believes that Bangkok's property prices will increase significantly in five to eight years' time, as land resources in Bangkok are limited and the economy will be ripe for economic restructuring in a few years' time. In terms of the rental market, Bangkok is more stable than its neighbouring countries as it is a tourist city and needs to recruit nationals from all the country's provinces to work in tourism-related services.

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