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Location, Location, Location

By on Dec 07, 2012 in Property News

Location is the most important factor for choosing property for investment but be mindful of functionality and avoid overstretching your finances, say experts.

Prof Manop Bongsadadt of Chulalongkorn University’s architecture faculty said location rather than price should compel investors to buy property. Long-term investment in property in a good location has high potential for gains. In general, land close to commercial areas increases in value in the long term as more people move to cities.

He cited the old Seri Village in Hua Mak close to Rama IX Road as an example. Some properties worth only 300,000 baht three decades ago are now worth 15 million.

“Is there any other type of investment that can yield a better return?” he asked.

Gold is said to be the riskiest investment. Blue-chip stocks have a limited amount, while short-term stock investment is at risk of manipulation. Property should be a good bet for long-term investment of 10-20 years.

Sopon Pornchokchai, president of the Agency for Real Estate Affairs (AREA), a consultancy, said demand for condominiums in inner Bangkok has remained strong despite plentiful supply.

An AREA survey found prices of condominium units have increased by 4.9% on average per year, with returns from rentals standing at 6.5%, making the investment attractive with a total return of 11.4%.

An estimated 62% of buyers of inner-city condominium units bought them for their own residence, while 38% bought for investment by sale or letting. Mr Sopon said of the 93,031 units surveyed, 65,493 or 70.4% were occupied.

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Nora has been in the Corporate Communications arena for a number of years. Nora's role is to communicate all newsworthy items that are of a PR nature.

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