[Special Scoop] Wherever you decide to live, location is always a high priority. According to DDproperty’s market survey, Thai consumers ranked ‘location’ as the top reason to purchase a property. However, aside from Thais, overseas buyers and expats currently account for a large portion of real estate demand. Their interest in Thailand property is due to much lower prices here than found in their home country, as well as a greater potential return yield should they wish to rent it out.
As foreign demand has increased in the past several years, 4 types of locations have emerged as being the most attractive for both expats and overseas investors. These locations are near public transit links, workplaces, international schools and lifestyle amenities. Preference on type depends on the demographic of the buyer. Families and workers will want to be in different location than single people who enjoy nightlife.
Over half of condo units purchased by foreigners are found in Bangkok with the rest located in tourist destinations such as Hua Hin, Pattaya, Phuket, Chiang Mai, and other places popular with visitors. Expats tend to prefer purchasing condo units in prime areas with easy access to public transit being preferred. On the other hand, overseas investors are interested in Thailand properties’ yield rates and seek out high-end condominiums in these areas since they are almost always in demand from renters.
However, proximity to a public transit isn’t necessary if the property is located close to the workplace of the buyer. Most expats employed in Thailand are based in Bangkok’s CBD. And while condos in places like Sathorn, Silom, Phrom Phong, Asok and Thonglor, have some of the highest prices in Bangkok, expats usually have a budget to find residences in these areas. In some cases, it is even funded by their employer.
If you own a large-scale unit and the property is located close to an international school, this will be a plus to prospective tenants who have children. In fact, public transit might not be an important factor for these buyers as most of them already have a car or multiple cars to get around the city. Being close to international school allows them to ensure their children can easily get to and from class each day.
For solo expats, condos close to lifestyle amenities are most attractive. They like to unwind in one of Bangkok’s nightlife locations after a tiring workday. Some prefer the renowned bars in places like Thonglor that offer an atmosphere similar to what they have in their home country. Other locations, such as Nana, are popular because of nighttime entertainment options.
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