Investing In Bangkok Property – Top 10 Tips
Top Ten Tips for Bangkok property
Despite the recent political and global economic crisis Bangkok Property prices continue to rise. Surprisingly there is a shift in the forecasted prices rises as more and more investors are looking towards new ‘more for your money’ projects located on Ratchada, Phonyothin, Lad Prao most of which conveniently just a few minutes walk from a BTS or MRT station
Top Ten Insider Tips – Getting to Grips With The Bangkok Property Industry.
- Sukhumvit, Lumpini and Sathorn are the most popular areas for foreign investors and there is a wide selection hi-end developments commanding some of the highest prices in Bangkok.
- If being close to the CBD is important and you have a family to consider then hi end housing villages will be worth considering. Two of the most popular villages are located close to the International School of Bangkok and BAngkok Pattana School.
- Many investors are attracted to the newly popular riverside developments, with its stunning views and close proximity to a string of Bangkok’s top hotels, including the Peninsula, The oriental and the Shangri-La. The new BTS stations have recently opened making these areas much more accessible and increasing the demand by expatriates.
- Bangkok’s traffic is notoriously bad epically on Sukhumvit, most potential tenants will be looking for a home within a short walk to either a BTS or MRT station.
- With the western influence the standard of Bangkok condominium projects is improving fast, the units are becoming better designed with modern state of the art facilities that can compete with those found in Hong Kong and Singapore.
- Dozens of new hi end housing villages are being constructed on the suburbs of Bangkok. The villages usually feature great amenities such as children play grounds, tennis courts, swimming pools and often shopping complexes. These are mostly built in similar style to a high end western a housing development, where the rows of detached houses look the same. These developments are very popular with the middle class Thais.
- Over the next three years, the amount of new condo developments will increase, by an average of 6,000 units per year, considerably high when compared with an average of 4,450 units per year during 2003-2007. The result will be high competition among the new developments and less for the older units.This increase in availability should leave bargaining power in the hands of the tenants and buyers.
- In the coming year 2012, new property projects in central Bangkok have focused more on the middle and upper-middle segments, with the majority of units being one to two-bedrooms in order to offset declining purchasing power.
- At the lower end of the property market, project development focus in Bangkok is shifting to locations along the recently opened SkyTrain and Subway routes where property can be much better value for money.
- In the past few years most condo developments have had high percentage of studio or 1 bed units, now due to the shortage and changing living style 2 and 3 bedrooms units are in high demand.