Thailand has long been one of the most popular expat destinations and for a wide variety of reasons. One of the biggest things that draws people to uproot their lives and live in Thailand, particularly Bangkok, has been the real estate market. Property prices in Thailand are comparatively low compared to most Western countries, meaning you can get more bang for your buck when moving to Thailand.
All that said—what with the recent COVID-19 pandemic—the property market has taken a big hit (as is the same with most countries). The good news is however, that as we make our way through 2022, Bangkok’s real estate market is thriving once more. Here’s why…
Bangkok is a city that boasts something for everyone
Bangkok isn’t a one-trick pony. This is a bustling metropolis that attracts people from all walks of life, for a wide variety of reasons. Because of this, everybody wants a piece of Thailand! It’s inexpensive to live and there are so many other amazing things to see and do, which is a large contributing factor to the excellent property market.
Thailand’s economic growth has helped significantly
Thailand has had one of the best responses to the COVID-19 pandemic. Certainly, everyone took a hit and many industries—particularly tourism—suffered for it. However, due to excellent policies and airtight logistics, the economy has managed to experience some serious growth. As the borders re-opened and foreigners were allowed back into Thailand, the real estate market began gathering speed once more.
Bangkok has always offered great investment potential
Bangkok has always offered great investment potential, particularly for investors looking to make a return on rental prices. If you buy somewhere fairly central, such as in Sukhumvit, you’ll rarely have any trouble renting it out to expats and holiday makers alike. That, and rental rates have remained fairly steady of late.
The city is forever expanding
While Bangkok is notorious for having bad traffic, its infrastructure is actually very good – and continuing to improve. From the BTS Skytrain and MRT Underground Metro, there’s plenty of amazing infrastructure in Bangkok that allows its inhabitants to navigate from one end of the city fairly quickly.
Not only that, but Bangkok boasts some fantastic and affordable dental and healthcare facilities – which is another reason why so many people are choosing to uproot their lives and start again in Thailand!
While the development and construction of new property certainly slowed during the COVID-19 pandemic, the city has gone through some major changes over the last decade with more on the way. Simply put, this is a city worth investing in.
There’s so much work opportunity in Bangkok
Another important factor is the fact that Bangkok has a wealth of work opportunity – particularly for foreigners looking to invest in Thailand and start a new life. This, coupled with Thailand’s economic upswing and the growth of big business is why the real estate market has sprung to life recently.
The fact is, with more work opportunity, Bangkok’s modernisation, and a growing population of professionals, more and more people have been flocking to Bangkok and investing in property for the long-haul. Let’s hope this amazing progress continues!
If you are interested in exploring the wealth of property available in Bangkok right now, we recommended a reputable real estate agency with access to a multitude of quality developments, such as The Lighthouse. Keep your finger on the pulse and you’ll be amazed by how much investment potential is available right now.