By Andrew Batt:
Investment potential in Thailand has seen a dramatic upsurge according to a leading global property investment company.
Knight Knox International has identified how ambitious infrastructural plans have resulted in a pioneering upsurge in Thailand’s investment potential, and the company has identied Pattaya and Bangkok as key destinations worthy of investment.
The government’s ambitious programme to invest US$72 billion on a raft of infrastructure projects over the following four years has shown that Thailand is certainly not feeling the chill of the global economic crisis.
The main initiative is an expansive system of rail networks connecting Thailand’s major Northern provinces, including Chiang Mai and Bangkok.
When you take these plans alongside the Association of Southeast Asian Nations’ (ASEAN) goals to eliminate tariffs and to open new Free Trade Areas, it is easy to see why large volumes of Foreign Direct Investment is currently flowing into Thailand. Media reports recently revealed that January alone saw THB25 billion baht flow into the country, resulting in a breath-taking year-on- year increase of 68.58 percent.
These infrastructural plans, which are expected to improve accessibility across the country, are set to aid Thailand’s already-thriving tourist trade. The Ministry of Tourism and Sports reported that more than 22 million tourists visited Thailand last year, holidaying mainly in the popular regions of Pattaya and Bangkok. These popular holiday regions are both undeniably bustling cities; however they each have their own distinctive features worthy of investment.
"The Thai condo market is booming at the moment,” said Lee Chettoe, Sales Manager at Knight Knox International.
"The country’s new infrastructure project has helped transform the condo market in cities like Bangkok and Pattaya, and this increase in demand for property has led us to take on the luxury development Chaophraya Condos in Bangkok as well as many other projects throughout the whole of Pattaya."
He added: "Over the past 12 months we have also found that investors are broadening their horizons and starting to look more further afield than the traditionally popular regions in Pattaya, towards the more tranquil area of Bang Saray; either looking to retire or for a peaceful holiday destination".
Andrew Batt, International Group Editor of PropertyGuru, wrote this story. To contact him about this or other stories email andrew@allproperty.com.sg
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