When buying property in Thailand , overseas investors are focusing on downtown Bangkok, according to one group of property experts. CBRE claim that prime residential real estate in the area is proving to be of particular interest to Chinese, Singaporean, Taiwanese and Japanese buyers. This is thanks to a common perception that Bangkok is an attractive and affordable place to have a second residence.
The city has certainly seen its property market go from strength to strength over the last few decades, particularly in the condominium segment. In 1988 there were just 10,000 condominium units in Bangkok but today there are over 350,000. CBRE expects this growth will continue into the future. “With continuous supply coming onto the market, the condominium market will become even more complicated and competitive,” they wrote.
In the popular downtown area, it is expected that there will be a healthy low volume and high value market. This will ensure the clearance of built unsold inventory, while including a limited number of new launches. Already the downtown condominium market is characterised by units with higher prices per square metre. However, in prime locations such as Rajdamri, Ploenchit, Wireless Road and Langsuan, there are fewer new freeholds and limited freehold land available.
“The high land price above THB 1.5 million per sq.wah, which is set to continue to rise further will also affect the feasibility of condominium projects. In secondary locations within the CBD and sub-sois, developers need to be more cautious in terms of launching new projects as higher land prices and construction costs will drive up prices over the market affordability,” CBRE explained.
For investors looking for cheaper property, midtown Bangkok is a great alternative. The area is comprised almost exclusively of one-bedroom units, making it ideal for those considering entering the holiday let market. However, it is currently faced with problems of supply volumes and distortions in stock type. This means the area could be vulnerable to saturated demand in certain locations. Yet, young middle-level executive and white collar employees are still eager to populate midtown Bangkok.Article by +Danny Bance on behalf of Propertyshowrooms.com
ที่มา : propertyshowrooms.com
อ่านเพิ่มเติมได้ที่…Overseas buyers focus on downtown Bangkok
Overseas buyers focus on downtown Bangkok
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