Foreigners Buying Condos in Bangkok

The Bangkok Post reports today that foreigners make up about 25% of condo buyers in the Bangkok area and that this number is expected to rise to about 30% this year. One of the key factors that foreigners consider when thinking about buying a condo in Thailand is the stability of the political environment. Prices in Bangkok are much lower than in Hong Kong or Singapore and this attracts interest from foreign buyers. Bangkok is now the world’s most visited city, recently surpassing London. Its a shopping mecca attacting people from every country. Foreigners cannot take freehold title to land in Thailand but they can for condos. The Asean economic integration targeted for 2016 should drive greater demand. The average price per squre meter for a condo (in Thai Bhat) is now about 150,000 whereas in 2002, it was about 64,000 Bhat per square meter. These prices reflect the value in the location that are close to the BTS Skytrain. Greater value is found in outlying areas.

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About Tom

Traveling around Asia for a couple of years. Picking up just enough consulting contracts, expanding horizons, blogging, enjoying warmer weather and the other side of the world.

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