Property Futures

Real Estate News, Reviews and Investment

Condo market in Thailand poised for take-off

News: Tourism the catalyst for growth in Thailand condo market.

The burgeoning traffic in tourism to Thailand has ushered in a new phase of dynamic growth in the condo market. In the wake of this pervading tourism onslaught, the country has positioned itself to reap the greatest benefit by targeting wealthy tourist visitors rather than on the number of tourist arrivals.

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Demand for condos running high

Overall, there has been a dramatic increase in the number of arrivals to the country and the really interesting aspect of this market is that the majority of big spenders who arrive are Asians with only a few foreign buyers.   Records show that potential condo buyers arrive from China, Malaysia, Japan, South Korea, India, Laos and Singapore.  The remaining tourists hail from Russia, Australia and the UK.

Facts and figures

Figures clearly illustrate the importance of increasing tourist arrivals in the country:

  • A total of 22 million tourists visited the country in 2012 and projected figures are expected to increase to 24.5 million in 2013.
  • Compared to 2011 figures, the number of tourists is up 15% and income up 24%
  • The attractive climate and scenery the country entices tourists to become real estate investors which spurs further development and attraction to the island.

Supply measuring up to customer demand

Though there are numerous supply sources for satisfying the preferences and desires of customers, there are special areas that have long been favored by tourists such as Phuket Island. Here customer and owner interaction is particularly high and can lead to a high level of satisfaction to both sides.

The Phuket example

The island is rapidly becoming the hub of condo development, which has been made possible by the presence of a large international airport. Because of this airport on the island:

  • The condo market has grown by 20% over the past 2 years and Asian buyers have steadily streamed into the area.
  • For condo buyers, the terms of purchase are attractive. For example, the Silver Beach Phuket condominium can be owned with a 35% down payment, with the balance paid in installments.

Thailand offers potential condominium owner with premium value, set amidst a myriad of attractive features such as impeccable scenery, superb facilities, relaxing comfort, exquisite cuisine and top class entertainment.

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One comment on “Condo market in Thailand poised for take-off

  1. Henry Gomez
    June 17, 2013

    Yeah! Thai Government is putting all effords to promote the tourism in country. Country is very well managing the tourist with providing all facilities.
    This raises the property rates and demand for property is increased. Investing on Thailand property is good idea.
    Thailand Condo is good to invest as it is very much in demand.
    http://u21thailandseaview.com/

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This entry was posted on April 24, 2013 by in Uncategorized and tagged , , , , , , , .

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