Property prices in Thailand have steadily increased in the last few decades, but no more so than at this current time. Despite the political unrest, natural disasters and global economic crisis, Thai property prices continue to rise.
Here we will explore a few of the reasons why Thai property prices are rising astronomically at the moment and how you could potentially benefit from it.
How are the property prices still rising?
The main reason that Thai property prices are going through the roof is the fact that tourism, despite all the external and internal problems that Thailand’s tourism industry faces, is still on the increase. The disputes between the ‘red shirt’ and ‘yellow shirt’ political parties has seen the main airport close for a period during high season a few years ago, causing huge problems for tourism. Since then we have seen military coups and serious rioting in Bangkok on an ongoing basis.
The fact of the matter is most tourists realise that once they are out of Bangkok, none of this affects them. Once they remove themselves from the capital and are sat on a beach sipping cocktails, the political problems may as well be in another world.
That is why the tourists still keep coming. And as long as the tourists still come, so they will need places for them to stay, and therefore the property prices will continue to increase.
Aside from the tourists the number of foreigners that have chosen to make Thailand their home has increased. Thailand has always been a favourite of British and American expatriates, but now former eastern bloc countries have followed suit.
Again, this is foreign money being pumped into the Thai economy, ensuring that the property prices will continue to rise.
How you can benefit from the property boom.
The fact of the matter is that, although some prices in Thailand have already skyrocketed, the cost of similar quality condominiums in Bangkok and London or New York is incomparable.
Thai property is now being built to the highest western standards. The only difference between the properties is that the ones in Thailand enjoy all year round sun and heat!
If you shop around now and find a property in an area that hasn’t already gone through the roof then why not snap it up? If you choose your location and property type wisely then there is no reason that it won’t turn into an incredible investment in the future.
The Thai property market in recent years, and certainly at the moment, is proving that.
