Bangkok – City of Expatriates

Why are more and more westerners looking at property for sale in Bangkok?

The prices of property in Bangkok are very appealing when one compares them to London, New York and the traditional European destinations. Whereas a condominium in London’s West End sells for about £3,750 per square metre, in Bangkok you can find a similar unit with a swimming pool that you can actually use 365 days a year, security and tennis courts for about £900 per square metre – one-fourth the price, and without the high crime rates and equally high cost of living. A luxury condominium in central Bangkok sells for a third of the price of its equivalent in Hong Kong, and less than half the price of a unit in Singapore.

Who is buying property in Bangkok and beating the high costs in the west?

As in most cosmopolitan world capitals, the Bangkok expatriate population is a melting pot of cultures, leading to hundreds of western and Asian restaurants, high-end shopping malls and supermarkets, nightclubs and endless entertainment options, assuring that the desires of westerners are always fulfilled.

Retirees in particular, who formerly congregated in the warmer parts of Europe and America, are finding that paradise is turning into a nightmare as their pension dwindles, crime rises, and healthcare is no longer affordable – not things that you want to worry about in your golden years.

Why is NOW the best time to buy a property in Bangkok?

The residential rental sector is continuing to see strong demand, with average occupancy rates in expatriate apartments in the central area in the 87-93% range. Residential property transactions, particularly for nearly completed projects, will be spurred by the recent tax breaks that will be in effect until March 2009 and could amount to as much as 5-6% of a transaction’s value.

Both primary and resale prices of luxury and upper-midrange condominium units rose significantly in Q1 2008. Luxury future unit prices gained 5.8% q-o-q and 27.6% y-o-y, while resale prices increased 8.6% q-o-q and 13.6% y-o-y – and Bangkok property remains unaffected by the sub-prime crisis.

The 8,000-acre Suvarnabhumi Airport, which moved 41 million people last year from 184 cities in 68 countries, along with its railway link that is expected to be completed by the end of the year, subway and SkyTrain service and high-speed road and rail links to the resort hotspot of Pattaya, are all making the city a far more convenient place to live and contributing to its allure to Bangkok property investors.

Which area of Bangkok will enhance my lifestyle or property portfolio?

From 1985 to 1996, Thailand experienced the world's highest growth rates and Bangkok’s transformation into a first-world metropolis began. The Ratchadaphisek area was turned into a business district, while Wireless Road and Chitlom became the sites of Bangkok's most expensive real estate.

As the city continues to expand, central Bangkok has nowhere to grow but up. With its 1,000 skyscrapers, the city ranks in 17th place for ‘world's tallest city’ and this does not include the hundreds of new buildings begun during the Bangkok property boom of 2007 that will continue in the coming years.

Location is the primary factor for most buyers seeking a unit and we can assist you in locating a property in Bangkok, whether a condominium or a house, in any of the most sought after areas of the capital, including:

• The popular Sukhumvit, Silom, Lumpini, Sathorn, Asoke, Ratchada, Lad Prao and Rama IX areas.
• The major business and residential centers of Bangrak, Phethaburi, Pathumwan, Pinklao, Rama II, the new CBD of Chatachuk and rising financial centre of Rama III.
• The emerging areas along the Chao Phraya River, and in Thonglor and Ratchathewi.
• Beyond to the tranquil suburbs where some of the country’s premier developers have created high-end gated communities that are ideal for families with their proximity to international schools and Bangkok's expressways and could just as easily be back home were it not for the cost and the weather.

Naturally, property in Bangkok in areas with convenient SkyTrain and subway access can be comparatively expensive, but the continually expanding expressway system also dramatically reduces commuting time. We’re here to help you find the right solution based on your particular needs.

Whether you’re looking for a retirement home or a property investment that will help you beat the credit crunch, you’ll find it all in the exciting cosmopolitan city that is Bangkok. Come and experience a lifestyle you never thought possible while enjoying substantial returns from your Bangkok property investment.