The popularity of condominiums in Thailand border regions is growing according to research from real estate agency Plus Property.
Units with selling prices of up to THB60,000 per sqm have become increasingly popular in the run up to the introduction of AEC 2015 in December next year, according to the firm.
From its market research, Plus Property noted the condominium markets in Chiang Rai, Phitsanulok, Udon Thani (pictured) and Hat Yai have been growing. Most of the new projects launched in 2012 sold well at the average of 20 units per month per project, and up to 40-50 units per month per project if they were being offered by a large developer.
Thailand has 89 border points linking it to Myanmar, Laos, Cambodia and Malaysia, and border trade grew to THB924 billion in 2013 – up from THB910 billion in 2012 according to the research.
Plus Property Managing Director Poomipak Julmanichoti suggested that to keep the border markets growing, factors such as internal political issues and international relations with neighbouring countries need to be considered.
“If we cannot keep things stable, it will affect investments and demands,” he said.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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