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Thai condo market proving popular with international buyers

Thai condo market proving popular with international buyers

Thai condo market proving popular with international buyers

Thailand continues to be one of the most popular destinations for real estate investors with Bangkok becoming the key market for condominium purchases.

Thailand’s economy has proven extremely resistant against the global economic downturn, with an annual GDP stability almost unheard of today amongst the traditionally richer Western countries.

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Building on both its domestic and international market success over recent years, The Kingdom has committed to spending approximately US$72 billion on infrastructure projects over the next five years, to ensure Thailand remains competitive in the global marketplace.

On top of this the government’s spending program includes support to the domestic market with a range of initiatives including the development of a system of rail networks in the North, the largest of which is a 750 km line connecting Chiang Mai to Bangkok.

As the country continues to invest heavily internally, international investors are increasingly looking to the condominium market diverting from coastal resorts to the capital, either as a second home for their retirement or as an investment vehicle. The introduction of a wider range of entertainment facilities, retail outlets and eating establishments in Bangkok area has led to the increase in its popularity, amongst both international visitors and Thai nationals.

Demand for new properties is increasing in Thailand as rising prices pushes consumers to make faster decisions, according to the Thai Home Construction Association.

In the North, Northeast and South of the country demand has grown 15 to 20% in home building markets in the first quarter of the year but growth was marginal in the greater Bangkok area.

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Angel Real Estate Consultancy

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