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Explore high-end condos in Thailand 'before they vanish'

Article Date : Thursday, May 03, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

Despite political and economic uncertainties in Thailand, long-term investors are increasingly interested in buying up condominium units, an international property consultancy, has said.

According to a study by CB Richard Ellis (CBRE), while the stock of existing condominiums in Bangkok has increased, the luxury-end of the market has declined, which means supply is now limited.

This has prompted CBRE to recommend that investors take action now and enquire about a high-end condo before they all disappear.

CBRE Thailand managing director Aliwassa Pathnadabutr said that luxury condo units in prime locations like Saladaeng continue to generate "good" sell-out prices.

And according to client feedback, investment returns in the form of rental yields and capital appreciation is between five and seven per cent.

Furthermore, she said that luxury condominium projects in Bangkok continue to be much cheaper than in neighbouring nations, which makes it more likely that investors will be keen to snap up available property.

According to Thailand Real Estate & Property Guide, overseas and Thai investors are pushing up land and property prices on the island of Phuket as the tourism sector starts to improve after the devastating tsunami on Boxing Day 2004.
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