The state of the real estate industry in Thailand seems to be growing beautifully due to the arrival of numerous property investors who have all set their eyes on investing in condominiums and hotels as well as the influx of property buyers purchasing executive homes in many different places in Thailand like Bangkok, Chiang Mai, Hua Hin and Phuket. The real estate boom had also been greatly influenced by rising activities in both trade and investment.
It can also be noticed that there has been an increased growth in the value of the cross-border trade with the neighboring countries of Cambodia, Myanmar, Malaysia and Laos which has amounted to an outstanding 900 billion baht last 2014 and it is also expected to grow beyond 1 trillion this year. This is all because of Thailand’s efforts in setting up special economic zones (SEZs) which was aimed at promoting trade in the border.
Even the locals themselves are doing pretty well. In fact, they now have more income as well as a more urbanized lifestyle which is all thanks to the government’s promotions. Most of these locals would often look for rooms to rent because they can save more money with that. But there are also a number of locals who are looking for condominiums to invest in them.
Furthermore, well-known sellers of condominiums would now normally sell 40-50 units a month while lesser known sellers would still be making lots of money with 20 units a month. It can also be said that there is an exceptional demand for condominium units in Chiang Rai, Udon Thani, Pisanulok and Hat Yai.
Condominiums have become the primary weapon and flagship that will penetrate the market in local provinces. This is all because of the changing demands of the consumers in these areas as well as their lifestyle.
The demand would often come from various groups in each of these provinces. The biggest demands would often come from university students, a primary consumer target, as well as the investors in Laos.
All in all, there seems to be a bright future ahead for the real estate industry in Thailand.