Bangkok, the core of business and commercial industry, as well as culture and tourism. As Thailand’s capital continues to move forward, Bangkok property developments are also on the rise. With its promising market background, it is no surprise that expats decide on going for Thailand property investment.
Bangkok’s condo market
Property price increase often happens in the central areas and near BTS and MRT stations. For example, property developments at Asoke, Phrom Phong, Thong Lo, and Ekkamai for a one-bedroom unit is around THB 1,890,597 to THB 3,150,995.
In fact, the price and the space of a Bangkok condo is more reasonable than properties in Hong Kong, Mainland China, and Singapore. New project or not, the unit is roomy and is at reasonable price.
Spike in average price of a condominium in Bangkok is not a big deal to foreign investors. For instance, a number of Chinese property buyers recently bought condos in Thailand – Bangkok, Chiang Mai, Pattaya, and Phuket.
Property investment is a commitment! Before taking the leap, one must know if they are really getting the property that they want.
In reality, there are those who invest properties to rent out, while others buy for long-time stay. Whichever type of investor you are and interested in Bangkok property, here are things to consider before signing that contract!
#1: Search for the best developer
It helps to do a profile check! Knowing the previous projects of the property developer will give investors an insight on their focus and design. From there, they will be able to know if the building, amenities, and ambience is ideal according to their daily lifestyle.
#2: If possible, look for two-bedroom units or above
Majority of units in Bangkok are either studio or one-bedroom condominium. Therefore, if the investor is most likely to rent out the property, go for two-bedroom or more units. Lesser competition, more revenue.
#3: Spend money on Bangkok condos near BTS or MRT Stations.
Convenience is the key! Being known for its crowded streets and daily traffic, owning a Bangkok property near mass transit makes everything easy. Besides, shopping malls, banks, hospitals, and schools are near or around the area.
Investors who are willing to put money into overseas property must consider Bangkok real estate market. Be aware of the project development, area, and location for an absolute return of investment.
Have knowledge about the market value, price increase, and possible profit.
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