The Bangkok condo market continued to grow due in large part to high-end and branded condos targeting expats and foreign investors, according to a Knight Frank report.
Frank Khan, head of residential department director Knight Frank Chartered, said in addition to their prime locations, the high standard of service provided by the international hotel brands ensure the exclusivity that these developments demand.
Two global hospitality chains have recently opened in Bangkok. The Ritz Carlton and St. Regis have created a high demand among investors, the report added.
Although there will be very limited new developments in this market owing to a lack of prime sites in the central business district area, there will be the possibility of three new luxury projects that may enter the market, Khan said.
Thailand is considered to be the one of best places for foreigners to invest in prime condominiums due to several factors including the creation of business opportunities, higher investment returns for well-planned and unique projects and attractive prices compared to other major cities in the region.
According to HSBC Bank’s expat navigator dice data from a 2010 survey of more than 4,000 expats across 25 countries who have already made the move, Thailand ranks the first among countries offering the best experience for expats, followed by Canada and Spain. Thailand ranks number two among the countries with the best work/life balance.
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