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Thailand Condo – Great promise of expansion lies to the east

By on May 01, 2014 in Property News, Residential

The Si Racha condominium market is attracting investors who can profit by renting to expats, mainly Japanese.  Si Racha has become one of the more interesting areas in Thailand for residential development because of its advantageous location in Chon Buri province. For some people, it represents a quieter alternative to the raucous and congested resort city of Pattaya. Many other people, both Thai and foreign, are looking for places to live in Si Racha because it is close to the industrial estates where they work.

In addition to being close to the Laem Chabang deep-sea port, Si Racha is within easy reach of the Amata Nakorn, Hemaraj Chon Buri, Pinthong, Laem Chabang and Eastern Seaboard industrial estates. At Pinthong, a five billion baht expansion covering 352 hectares this year will bring the total area of the complex to 960 hectares. As Pinthong and other estates grow, more Thai and foreign professionals and other workers will be seeking housing.

The condominium buying trend in Si Racha leans clearly toward investment, because the existing supply of serviced apartments cannot fulfil the residential demand from Japanese expatriates. Condominiums are thus a good alternative for them.  Investors are also attracted by the high yields of Si Racha condominiums, at 7-8%, compared with 4-6% in the Bangkok market, where costs are higher and competition heavier because of high supply.

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