Thai Property Market Expected to Boom With Expected Growth Between 5-10% Per Year
Where does your mind go when you think of real estate markets attractive to foreign investors? The Philippines have turned high-profit margins for many an investor. Singapore and Hong Kong will always supply a demand for housing as their nations continue to urbanise. There's another potential market entering the big stage with attractive opportunities: Thailand. Thailand is still classified as a developing nation, but a savvy investor knows that rapid development means rich opportunity.
"Despite the softer ringgit and other negative external factors, interest in buying offshore real estate is a booming market here in Malaysia" said Ms. Nicole Tan, Senior Manager, Business Development and Marketing for Prime International Properties at the press conference held at A Space ID Asoke-Ratchada, by Areeya Property, Thailand's leading property developer on 22nd Feb 2017 in A Space ID, Asoke-Ratchada, Bangkok Thailand, where members of the media from Malaysia were taken on a showcase tour of the property. Malaysia was the first to be invited to see the property. Prime International Properties, a Malaysian-based International Property consultancy has signed a partnership agreement with Areeya to market the property here to property investors here in Malaysia.
"Buying a property abroad is not only a good strategy to diversifying your investment portfolio, it could bring you much more than you can imagine. We believe that Thailand's property market will show average growth of between 5 -10% a year from 2017-2020 and will benefit Malaysian investors interested in buying overseas properties." she continued.
ABOUT A SPACE ID ASOKE-RATCHADA
A Space ID Asoke-Ratchada which was launched at the event is a new generation of condominiums situated right in the heart of the business district. With one bedroom and two bedroom fully furnished apartments with minimalist dÃ©cor, this relaxed private residence includes an automatic Mechanical Parking system, a large freeform swimming pool, a fitness club as well as a sauna and steam suite.
The property is strategically located by Rama 9 MRT station and in close connection to the BTS skytrain, making it convenient in getting to business districts of Silom, Sukhumvit and Asoke. There are a variety of shopping malls in the area including Central Plaza Grand Rama 9, Fortune Town, Robinson Ratchada, Big C Extra, Esplanade and Terminal 21.
Highway access points to Rama 9 and Asokeâ€“Din Daeng are close by as well as a 5â€“minute driving distance to Makkasan Airport Link station to Suvarnabhumi Airport.
"Thai real estate is one of the most reliably growing markets in the world. Prices show continued growth year on year, across all sectors of the market: condominiums have posted between five and twelve percent annual price growth every year since 2008, with no sign of slowing down. Even luxury properties, (above US$300,000, or around ten million baht) a previously sluggish segment of the market, are showing growth and attracting foreign investment dollars for the first time since 2013.â€ said Mr. Wisit Laohapoonrungsee, CEO of Areeya Property at the launch.
The Thai real estate market's greatest strength are its tried and tested resilience. Property demand and land values have rebounded from multiple crises over the past three years: the market has weathered everything from a major political upheaval to the tragic events, and come out stronger. That ability to bounce back is a rare and attractive quality to the savvy investor.
With the future railway of Kunming (China) leading down south to Bangkok as well as the future canal increasing this city's already existing multiple channels of logistics; a foreseeable influx of more investors from the Greater China, Hong Kong, Malaysia and Singapore is to be seen once these countries are connected.
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