The Thai property market was boosted by overseas property investors in 2017 according to the latest data from property consultant Knight Frank Thailand.
An appealing investment climate gave overseas property investors the chance to capitalise on their purchases in the Thai property market without being affected by high taxes and stamp duties.
Executive director and head of residential projects for knight Frank Thailand, Frank Khan, said that the market still received additional investment from mainland Chinese investors, even with stricter outbound investment rules imposed by the Chinese government.
The Bangkok metropolitan area emerged as a prime investment location for overseas property investors, offering the recognisable landmarks, amenities, and mass transit accessibility sought by investors.
With mass transport facilities seen as the most important requirement for investment in the Thai property market, many investors are also beginning to look outside the centre of Bangkok to peripheral areas.
Associate director of international project marketing for Knight Frank Thailand, Marciano Birjmohun, said that with Thailand’s expanding mass transit system, BTS lines remain the key influencer of urban development.
Investment in infrastructure such as the Bang Sue Grand Central Station, which is under construction has led investors to consider the advantages of low entry investment levels available in outlying districts.
Improving transport links mean that these areas will benefit from a direct connection to tourist areas and business districts.
With the Tao Poon interchange completed and Samrong interchange station nearly finished, these areas have been classified as future Thai property hotspots for 2018 and beyond.
‘If we only look at the existing traffic at interchange stations like Asok and Siam, we can be certain that Tao Poon and Samrong will become major transit stations by 2020,’ said Mr Birjmohun.
For overseas property investors considering the Far East it may be time to have a look at the greater Bangkok metropolitan area.