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In years now, the country of Thailand bears certain challenges for economists and investors. The land has experienced more stable capability compared to its regional neighbors. There has been some political and social upheaval. Over 21 different constitutions and 19 planned coups during the century, Thailand has stronger markets. At ThailandFlat, you are provided a list of great real estate properties on the country.
Thailand’s economy has made a great comeback after the Thai baht suffered from the Asian Financial Crisis in 1997 and the floods during 2012 (this situation has led to more than USD45 billion in damage.) On top of these all, real estate values have maintained consistency or increased, which allows a building boom. It has let the city gain a good reputation with glitzy high-rises. In this lieu, it has been nicknamed as Teflon Thailand, because of being successful amidst the struggles during the 2000s.
The latest political upheaval has led to raised questions on how the non-stick veneer would stand. According to Risinee Sarikaputra, research and consultancy director of Knight Frank Thailand, the Teflon days have already been a past incident. She said that the country is now having new challenges that affects the overall economy. It has a lowered number of exports and bears a global economy that no longer functions it normally does. Furthermore, she also said, that the real estate at the highest place of the market in Bangkok’s CBD and central districts have shown great improvement during the recent years.
Sarikaputra shares her opinion on short-term investments that is not right to do during these constraints of the economy. However, she still accounts on having an optimistic outlook. She said that the most affective buyers are there, because of the current economic situation. These are people who purchased units for the act of quick reselling. Furthermore, she said that the country has a steady position in being a positive long-term investment option. The real estate properties at the top end of the market in Bangkok’s CBD and central districts have shown good performance during the recent years.
This is a good observation that many have allowed. The basic opinion has shown the luxury sector of the Bangkok property market will keep a solid investment in the next years. At this light, Bunthoon Damrongrak, head of Residential Project Sales at JLL Thailand, said that experience stands for a market that is highly resilient. He, also, said that the demand for condominiums in the city has shown a very strong stand. For a fact, JLL has witnessed an increased interest from foreign buyers who are searching for condominiums in Bangkok. These people belong to China, Hong Kong and Singapore.
Additionally, Bangkok’s real estate market is known for domestic investments. In a research conducted by Knight Frank, it was found out that Thai buyers stands for 76% of the entire market. On top of those who are buying condos as a future investment, a lot of buyers are purchasing properties for the intention of living in them. During the last couple of decades, rich and young locales have been seen to avoid living with their parents into adulthood. The local luxury market has offered a growth in its demand for expensive urban residences in affluent neighborhoods, like the Sukhumvit Road and Sathorn. Even if the luxury market in the city is growing steady, the situation in some areas of Thailand, like those which does not have a beachfront location, is looking less viable.
Image 1: https://pixabay.com/photos/stock-trading-monitor-business-1863880/
Image 2: https://pixabay.com/photos/bangkok-thailand-city-1759467/
