Bangkok Real Estate
Bangkok Real Estate – Music to the Ears of Savvy Investors
Bangkok real estate is driven by the booming tourism sector that is the economic backbone of Bangkok city. Bangkok is also the capital of Thailand and the most cosmopolitan city in the region, therefore, boosting the sector even further. It has many tourist attraction sites such as Reclining Buddha, the Bangkok University Art Gallery and many others. If you are a retiree looking for an investment, Bangkok condos and apartments are ideal. Especially for foreigners who are not allowed to own land in Thailand.
Bangkok Real Estate Overview
Bangkok real estate is relatively a stable and low risk market. This is partly due to the local culture and also because most properties on sale are not the primary residence of the owner. This results to price stability even in times of economic down turn. While this is an advantage, lack of price changes also means there is no substantial increase of price of the properties. This is attributed to availability of land for development within the city. The old small buildings are continually being demolished to give way for new properties maintaining a steady supply of properties in the market.
However, there is a significant upward price movement on residential houses like condos. Buildings in Bangkok tend to age faster with 5 year old building showing signs of significant depreciation. Since Thai people have a tendency to prefer newer buildings over old ones, there is an increased demand for newly build houses.
Bangkok Real Estate – Condo
Bangkok condos are a home away from home with the best accommodation and facilities. There are estate developers who have cut a niche market in Bangkok real estate by providing housing to expatriates. Condos happen to be the most popular with expatriates. Although one can get cheaper condos for the low budget buyers, they are commonly for high spenders.
For foreigners, locating a condo or an apartment can be tricky. This is largely because local newspapers bearing the Bangkok real estate opportunity are in the local language. The only option is to engage local real state agencies. You can find them online and they are very resourceful. If you do not want to deal with brokers (keep in mind to loose their experience in terms of negotiating for the prosper tenant or buyer!), you can do your own search on the internet and look at offers by the many real estate developers. It is prudent to check the credibility of a developer by consulting those who have bought condos before.
There is plenty of information on condos online. Such information includes availability of transport services, schools and universities close to properties you intend to buy. Online sources have photos of condos and you can have an idea of how they look like along with the prevailing rental and price rates. Some sites take you for a virtue tour of the condo. In this regard you get a real feeling of living in a condo.
The political violence which was witnessed in the past, has a put a dent on the Bangkok real estate sector. Fortunately, Bangkok real estate bounced back to full recovery.