Investments in Thailand Expected to Rise
Thailand is poised to see a rise in investments in the following months, according to Knight Knox International, one of the most respected names when it comes to property investment. The company attributes the rush of investment potential to the development of wide-scale groundwork plans, specifically in the key cities of Bangkok, the Thai Capital, and Pattaya, one of the country’s foremost tourist destinations.
Because of the initiative of the Association of Southeast Asian Nations to scrap tariffs and create new areas for free trade, alongside the government’s new infrastructure plans, it is easy to see why foreign direct investors are flocking to Thailand. According to several reports, the month of January witnessed a cash flow influx of as much THB 25 Billion, thereby jumping the year-on-year increase to a whopping 68.58%. In 2012, the Ministry of Tourism and Sports logged a total of 22 million visitors, most of which holidayed in the prominent cities of Bangkok and Pattaya. Because of its beautiful features and rich tourism, these countries prove to be the top contenders in the eyes of both local developers and foreign investors. Other districts are catching up too, as more and more tourists are looking for more ‘unique’ escapades, such as the beautiful landscapes of Chiang Mai and Chiang Rai, and the pristine beaches of Phuket.
Uniting the Country
In the next four years, the government of Thailand plans on investing as much as USD 72 billion on a number of structural projects, despite the fiscal crises experienced by most parts of the globe. The project is headlined by an extensive rail network, which aims to connect Bangkok, Chiang Mai and other northern districts to the rest of the country. The plan, which is poised to enhance travel and commute all over the country, is expected to enhance Thailand’s tourism industry even further as it can help improve the mobility of tourists throughout the areas of the country.
The Rise of Condominiums
Apart from tourism, another booming industry in Thailand is the condo market, according to Lee Chettoe, Sales Manager of the Knight Knox International Firm. With the government’s plan of improving the country’s railroad systems, the demand for condominium in prime cities such as Bangkok and Pattaya are continuously climbing at staggering rates. As a result, many developers are trying to get their hands on luxury Chaophraya condominiums in Bangkok, as well as Pattaya.
A Bright Future Lying Ahead
Apart from the increasing investments in Bangkok and Pattaya, other parts of Thailand are also gaining fame amongst international developers, according to Chettoe. In the past 12 months, research has shown that many investors are setting their sights on other ‘less-commercial districts,’ such as Bang Saray, which is known for its quiet and tranquil environment. Chettoe adds that this setting is perfect for tourists or retirees who wish to get away from the hurly burly of the capital, and the rowdy tourist crowds of Pattaya. With the country’s numerous infrastructure plans and bustling tourism, it sure looks like Thailand is going to enjoy billions of dollars’ worth of investments in the years to come.