International Investors Find Thai Condo Market Appealing
There is little doubt that Thailand is becoming an extremely popular destination for real estate investors.
Bangkok has for several years enjoyed the experience and the benefits but now other cities such as Pattaya are becoming equally popular with many developments designed purely for investors. This goes to show that the number of investment opportunities in Thailand is increasing all the time and the condominium market is particularly attractive.
There are lots of reasons why Thailand is so attractive to investors. The obvious beauty of the country and its people is naturally appealing but for investors the attractions are based more on economics. Thailand has proved to be remarkably resistant to the economic downturn, with the effects being far less severe than in many western countries. The country’s stable GDP just goes to reinforce the point. On top of this, the country has witnessed almost continual growth for the last few decades creating greater opportunities for investors.
Overall, the country has experienced impressive international and domestic success in several different markets. This has been recognised by the government who have committed themselves to investing around US$72 billion on infrastructure projects over the next five years. This will facilitate further growth and expansion and allow Thailand to be truly competitive on the world stage. Increased spending on infrastructure in places such as Pattaya will undoubtedly make the condo market even more appealing.
The government’s spending on infrastructure extends to upgrading the international airport at U-Tapao – a massive boost for Pattaya and new high-speed rail link with a line running from Bangkok to Rayong, stopping in Pattaya. In addition, the northern city of Chiang Mai will also be connected to Bangkok via rail which increases the options for Chinese investors currently entering the north of the country. Pattaya has indeed witnessed increasing numbers of Chinese investors in recent years itself and this appears to be a trend that will continue for years to come.
The greater the investment Thailand makes internally, the more attractive the country becomes to international investors. Bangkok has obvious appeal being a capital city but the potential of Pattaya shouldn’t be underestimated. The city has plenty to offer both singles and families which naturally increases the attraction of the city to investors looking to make healthy returns on the back of rental properties. Once again there has been a great deal of investment, this time privately, in a variety of entertainment centres, retail outlets and eating establishments to reach out to a wider audience. This investment has proved attractive to both international visitors and Thai nationals.
In Pattaya, we have witnessed the continual development of new condominiums to meet demand. This increased demand has resulted in buyers making faster decisions when it comes to investing in property according to the Thai Home Construction Association. This is hardly surprising when you consider the high rental yields that are available to investors with comparably little capital outlay. Practically all new condominiums that are constructed in Pattaya meet western standards so investors have few concerns about the quality of their purchases.