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5 Compelling Reasons Why You Should Invest in Bangkok
Bangkok has surpassed London as the world’s top tourist destination, according to findings of a MasterCard survey in 2016. Nevertheless, tourism is not a primary reason that draws a huge number of foreign to dish out some cash to invest in Bangkok properties. Let’s check out 5 compelling reasons below:
1. Hub of ASEAN
As the geographic heart of ASEAN, Thailand is regarded as the largest growing economic market and serves as a gateway to Southeast Asia connected to the world via Suvarnabhumi International Airport, ranked as the world’s seventh largest airport, and Don Mueang International Airport. With its strategic location, unique advantages and the city’s appeal, Bangkok is positioned for huge growth in its property sector, attracting overseas investment and regional headquarters keen to tap into the city’s economic potential.
2. Fastest-growing City
Bangkok is ranked ninth among the top 10 emerging world cities, according to new research from real-estate consultancy Jones Lang LaSalle (JLL). In the past years, Bangkok has undergone several major infrastructure developments including the expansion of mass transit lines (BTS Skytrain and MRT Subway). Within the capital, investors look to the core areas that constitute Bangkok’s most promising investment opportunities, thanks to their unrivaled access to mass transit: Ploenchit, Asoke, Phrom Phong, Ratchada and Ari.
3. Legendary Charm
Despite its rapidly advanced development, Bangkok retains much of its authenticity and charm, making life here feel like an endless holiday. Hop on a river ferry to grab brunch at a five-star hotel overlooking the Chao Praya River. Explore a winding alley for tasty street food. Sip a cocktail in the latest speakeasy in Sukhumvit. Get pampered at spas with unbeatable prices. Shop yourself out at markets and luxury malls. Pop out of town for a beach getaway a 1.5-hour drive away. Or just laze at home, where every conceivable service can be brought to your doorstep for a fraction of what you’d pay in other major cities.
4. Investment Opportunities
With the influx of ASEAN Economic Community (AEC) coupled with the government’s 2.2-trillion-baht transportation infrastructure investment to turn Thailand into AEC logistics hub, it has driven Bangkok property to grow constantly; particularly in the inner-city locations where the prices keep breaking records year after year. This fact is supported by Knight Frank’s Bangkok Condominium Research Report for Q2 2015 that the prices of newly launched luxury condominiums in the central business district (CBD) went up at a much faster with prices above THB 250,000 per square meter and tended to be skyrocketing. If you are considering owning property in Bangkok, now would be the time, as the prices of high-end residential properties are still lower than those in other Asian markets, especially Singapore, Hong Kong, and Taiwan; hence providing a potentially lucrative property investment opportunity to long-term investors.
5. Welcoming, Friendlier Thai Law
According to the Condominium Act, B.E. 2522 (1979), foreigners are allowed to purchase and own condominiums up to 49% of the total space of all units in that condominium on a freehold basis. Upon purchase, foreign buyers receive the same title deed as a Thai owner would, complete with details regarding the land belonging to the condominium; the unit; the owner’s name; and official seals from the competent authorities. Buying a freehold condominium, therefore, is the ideal option for those who are looking for long-term investment with 100% ownership.
It’s not surprising why Bangkok property is favorable for foreign investors. If you’re thinking about buying properties in Bangkok, you have to get started on property hunt as quickly as possible to grab the best units in the best locations before they hit that 49 percent. To make your property purchase easier and safe, you have to find the right developer that offers you 100% freehold properties. If your dream neighborhood is in the city centre, Noble Development Plc (Noble), one of the leading developers in Thailand with a professional track record of residential developments for almost 3 decades, might be your choice. All of Noble’s condo projects are strategically positioned in Bangkok’s inner core areas – Ploenchit, Asoke, Phrom Phong, Ratchada and Ari where you experience maximum convenience of mass transit and urbanite living.
Finding your dream property in Bangkok? Check out the video below:
For more information, visit www.noblehome.com/en/skyscraper
This is an overseas investment. As overseas investments carry additional financial, regulatory and legal risks, investors are advised to do the necessary checks and research on the investment beforehand.