According to a real estate expert, Bangkok is currently ranks third as the leading city for Chinese investors who are venturing in the real estate market especially those who are into corporate leasing for the last three years. Thailand’s economy is benefitting from Bangkok property rental because of the continued rise in the prices of properties in the market.
Nalinrat Chareonsuphong, the managing director of Nexus Property Marketing, said that there is a spike in investments coming from foreigners in the first quarter of 2018 especially in condominiums. Top Chinese companies that were not able to create a partnership with local developers own 20 per cent of the total units released for the first three months of this year. These condominium projects amounted to a total of over 30 billion baht.
The real estate market’s current status only shows that the foreign investors are starting to have more confidence in the nation. Even those foreign investors who are already active in the local market and other countries in Asia such as Singapore, Japan and Hong Kong are starting to purchase more investments within Thailand.
Nalinrat said that there is a rising trend in condominium projects in Thailandfocusing on Japanese consumers. It is to be expected that 2018 will see additional large-scale projects launched by Japanese developers.
The Bangkok real estate market welcomed 14,094 additional condo units in the first three months of 2018 coming from both small and big property developers. The introduction of the new supply is proof that the previous industry projection was correct. In total, the number of unit now stands at 564,000.
Chinese firms are also starting to expand their developments in other cities in Asia such as Delhi, Singapore, Seoul, Bangkok, Jakarta and Tokyo. This is because the real estate market in the region is stable. The transparency is what draws the Chinese developers in. The geographic location of Singapore is the reason whyit is eyed by China as a gateway into the region. Despite the rising interest, the prices of Bangkok property rental remain to be one of the most affordable in Asia.