Top 4 reasons why Bangkok attracts many property investors
Thailand is arguably one of South East Asia’s most appealing destinations for both tourists and foreign investors, and naturally has quite a lot to offer.
This is especially true when it comes to its real estate market that is rapidly emerging as one of the hottest in this region.
Taking a case study of Bangkok, the capital, there are endless opportunities for foreigners to invest in both commercial and residential properties in diverse areas.
Bangkok also happens to be a sprawling metropolis that has made a name for itself as a modern global business hub with all the necessary attractions, particularly for property investors.
This city is served by a world class transportation system which includes the BTS SkyTrain and the MRT network, and most high end properties are strategically located along this transport network.
Thailand’s economy also happens to be relatively strong despite the global economic woes being witnessed around the globe. This obviously means that property prices in Bangkok are stable and infinitely cheaper than most other nations in South East Asia and indeed the whole of this continent.
Another reason why the Bangkok real estate market is attractive to foreigners is the undeniable fact that the cost of developing property here is considerably lower when compared to other countries.
This is largely attributable to an unlimited access to cheap labor as well as cheap building materials. This means that investors can spend an affordable amount of money in developing their properties. Further, due to the large demand for property in Bangkok, its real estate market is widely acclaimed for offering remarkably high and quick ROI.
Regardless of whether you are investing on grounded property, condominiums or even commercial buildings.
Thirdly, this city’s real estate market can easily accommodate virtually any kind of budget.
You can effortless procure property in up-market areas such as Sukhumivit Road (70% of condos here are foreign owned), Lumpini, Silom, Sathorn and even Riverside.
Where most modest condominiums go for around $100,000 and prime penthouses for about $2.3 million. The suburbs of Bangkok such as Bang Na and Nonthaburi are also becoming very attractive to foreign investors especially those wishing to own residential properties.
Finally, while Thailand might have strict laws on foreigners owning land and grounded property, the condo market is fortunately an exclusion and foreigners are able to own 100% of these housing units. Should wish to own land or grounded property in Bangkok there are still ingenious ways to circumvent these laws.
One of the best is wedding a Thai spouse and putting the land or property you develop under their name.
All in all, this amazing city can be the ideal place to heavily invest in real estate.
And like earlier mentioned property development is extremely affordable and you also stand a high chance of realizing a colossal ROI in a very quick and hassle-free manner.
Basically these are the 4 major reasons why the Bangkok real estate market is so alluring to both wealthy locals as well as foreigners. You can never go wrong by giving it a try.