Over the past five years or so, the Thailand real estate market has faced some challenging times. Due to both internal and external factors that forced investors to look elsewhere. Developers and everybody concerned with the property market in Thailand had to become adaptable and learn how to overcome unpredictable changes. So they could capture what business was out there. Some of the key factors that will influence the progress of real estate investments are:
Real estate developers have seen the upturn in demand for more luxury based type accommodation. Previously considered as a small part of the whole property market in Thailand, the building of new luxury condos and homes create a buzz amongst wealthy Thai and Asian investors. The selling price of luxury residential projects has remained high through the difficult times and will continue to do so.
Several corporate entities are coping and investing alongside the government’s investment plans. Whilst public investments are being built and on track, the whole economy can see a bright future and the consumer index will naturally increase. Completion of things like the airport extension, high-speed rail links, road development will all increase confidence in Pattaya.
Real estate investors still remain confident in boosting large shopping centres that provide both investment and amenities into local cities and towns. Pattaya currently has a huge new shopping mall under construction, Terminal 21 is a world famous shopping brand, it will be a six storey mega complex with accommodation, retail and leisure features.
Several real estate investors in Thailand are seriously attempting to bring their marketing and promotional avenues to another level to tempt home and foreign investors to buy. This investment fund has been established to ensure the advancement and development of new technological systems featured in smart phones, expected to facilitate buyers with quality services and excellent after-sales support at all times.
Many new projects and developments are being designed slightly different in ways of construction, design and offer additional facilities. The old adage “More Bang for your Buck” is ringing true. Investors want more for their money, some wish for green sustainable technologies, whilst other favour new experiences and more luxury items. As the demographic of investors coming to Pattaya has changed, so must the mix and type of residential dwellings. The simple basic studio has its place in the market, but affluent Chinese and Thai buyers are demanding higher quality condos and apartments, stacked full of amenities and high tech gadgets. It has become apparent that the current economic downturn and other negative factors have diminished somewhat, and that the market in several sectors has indeed started to recover. This will boost consumer confidence and property sales.