Thailand’s property market has caught the attention of international investors. Many are seeking out the Thai capital thanks to the attractive price point on offer especially consider the value found here than over other Asian cities like Hong Kong, Singapore or Beijing. But where are these foreign buyers flocking to?
According to research collected by DDproperty, Greater Bangkok was the most sought after destination accounting for nearly 74 percent of all purchases in 2017. When you consider that second position is Pattaya with just shy of six percent, proves how Greater Bangkok is a real magnet incomparable to the rest of the Kingdom. Phuket occupied the third position at 4.8 percent, followed by Chiang Mai with 2.9 percent and Rayong with 2 percent.
The draw to Bangkok is spread across various different locales. The top four most searched keywords on DDproperty for the first four months of 2019 were Bangkok, followed by Nonthaburi, Chiang Mai, BTS On Nut and BTS Ari.
These top four searches remain unchanged for the same period of 2018 cementing Bangkok’s popularity as well as individual neighbourhoods.
Foreigner investors choosing Bangkok want to take advantage of its strategic location within the region that means that many businesses are headquartered here. This lures in people who all need somewhere to live.
One area is Rama 9 that also benefits from being on the MRT Blue Line as well as expressways for those travelling by car. Since property prices and land values have risen in the traditional CBDs such as Sukhumvit and Silom, businesses have been pushed out to more affordable locations and this has created a hub of its own around Rama 9.
Additionally, it is also still possible to buy a property here for less than two million baht. Amenities have popped up to cater for demand, and residents relish in the convenience of being able to live, work and play all within one area.
Another area that enjoys relatively lower property prices is Charansanitwong-Pinkao. Situated on the Thonburi side of Bangkok, where there remains a strong local sense of community that adds to its charm. The BTS Green Line travels this way but it will also benefit from the future MRT Blue Line extension too which has propelled development.
Foreigners buying in Phuket, Chiang Mai and Rayong are more likely to be owner-occupiers, and maybe even retirees which illustrate how foreigners focus mainly on buying properties for investment purposes in Bangkok.
Another popular retirement hub is Hua Hin where the property is also available for less than two million baht. Since Hua Hin is a mecca for Bangkok’s residents wanting to escape the city at the weekend, investors here can be reassured that there is always demand here.
Read more insights about Bangkok property market and home tips, check out DDproperty Property Index Report, DDproperty Property Market Outlook Report and Property guides