Foreign Real Estate Investments in Thailand Remain Strong
Although political unrest in Bangkok has been going on since late 2013, many property developers and real estate companies have been cautious about making or succumbing to negative predictions about the immediate future of the market. However, those who adopted a wait-and-see approach for their 2014 development plans have been rewarded with consistent interest from foreign investors on the search for strong-value properties in a growing economy.
As the current situation is volatile but could even out at any time, Thailand has been attracting investors from around the globe who recognize that the depreciation of the Thai baht gives them more buying power on properties, particularly in the luxury sector. Investors coming from foreign nations with stronger currencies are currently able to buy approximately 10 percent more space at this time, thus have been acting quickly to purchase bigger, better and more expensive properties than what originally fit into their budgets.
An especially strong interest in luxury properties has been coming from Chinese investors, who have been focusing on Thailand property investments for several years now. With the coming ASEAN integration, Chinese investors are predicting strong potential in the future economy and see Thailand as having a convenient central location for the region.
The Russian expatriate group has also been a heavy hitter when it comes to investing in Thai property. As the Russian Ruble has recently declined due to their own political turmoil, this group has developed a tendency to invest in secondary home opportunities that maintain a strong value with inexpensive initial investment. The more tranquil condo projects situated in Jomtien are particularly popular with visitors from Russia, as well as from Scandinavians, who are looking for affordable units in this relaxed destination to use as a second or vacation home.