David Lane
Thailand, a growing international real estate hotspot, has been making waves in the last few decades. Investors from around the world, mostly from Asia, have expressed an interest to invest in the country’s strong property sector.
While Bangkok was and still continues to be the centre of attraction, being the most accessible city in Thailand, other areas are steadily making waves, giving the country’s capital a run for its money. For maximum return on investment, property investors are encouraged to explore other areas in Thailand that are growing and expanding.
Check out this list of Thailand property markets for your possible real estate investment projects in 2019:
1. Chiang Mai
FACTS (Source: Colliers Market Report 2018)
Outer City condominium projects rose to popularity early this year (6,467 units launched between 2012 and the first half of 2018). Around 10,468 condominium units launched from 2013 to May 2018. 10 universities and approximately more than 100,000 students getting their education in Chiang Mai. The city regularly receives an influx of new residents, moving in for their employment.
2. Hua Hin
FACTS (Source: Colliers Market Report 2018)
Hua Hin’s most popular area for more than two decades is its coastal area. There are only a few condo projects in the Hua Hin Coast but it has several residential projects, resorts accommodations, acclaimed hotels and other mixed use projects. Properties located in the Hua Hin Inland area are a lot cheaper than coastal properties.
3. PattayaFACTS (Source: Colliers Market Report 2018)
Pattaya has an average condominium take-up rate; other property investments (i.e. villas, resorts, hotels) have found more favour among expats, investors and long-term tourists. Since 2011, only Pratumnak has consistently launched small to medium condo projects unlike other places in Pattaya. More than 14,000 unsold condo units are still in the market, waiting to be purchased by investors or new lessors/unit owners.
Choosing a Thai Property to Invest In
Though the country is currently in a state of real estate boom and there is no better time to invest in the Thailand property market than now, investors are expected to proceed with caution. Anticipate foruitous events like weather and economic meltdowns in neighbouring countries. Also, take into consideration the volatility of buyer demands versus existing property supply.
Always be a few steps ahead of the game so your property investment in Thailand will have positive returns. And in the event of unexpected circumstances, you can recover with minimal effort.
