By Andrew Batt:
Foreign property investors are flocking to Thailand ahead of the implementation of the ASEAN Economic Community (AEC) in 2015, according to the Board of Investment (BoI).
Many land purchases are being made by Chinese buyers in the Upper Northeastern part of the kingdom.
In Khon Kaen Province, Chinese investors are in talks to acquire a 2,000 rai plot and develop it into electronic part plants and green industries, said Ratanawimon Naree Sukreekhet, Director of BOI’s Regional Investment and Economic Centre 3.
Japanese investors are also showing interest to use industrial estates in the Northeast for their auto and electronic part manufacturing industries.
Ratanawimon added that a big proportion of these investors are small and medium enterprises who are aiming to expand in the Eastern part of Thailand where there is abundance of land.
As demand increases, prices have also spiked in the Northeast – an area which is considered to be flood-free, and a convenient location for product distribution especially into neighbouring countries like Laos, Vietnam and Cambodia after the AEC comes into effect
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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