Thailand has been consistently on the rise as not only one of Southeast Asia’s top tourist destination spots, but also as an emerging nation primed for commercial development and foreign investments. Her vitality comes not only from the variety of industries and sectors but also the pace and breadth of expansion which has taken place over the past decade, with an abundance of growth potential yet to be harvested. Last year, its automotive industry came out top as the largest in Southeast Asia and its manufacturing and agricultural industries continue to sustain the nation’s growth.
Thailand’s capital, Bangkok, has shone as a gem in terms of real estate development and foreign investors have been showing increasing interest in properties here. The Asoke, Phrom Phong and Thong Lo districts in particular are catching the eye of many property buyers. At the busy interchange of the Asoke BTS and Sukhomvit MRT stations and just a station away from the Makkasan airport express is the Asoke area popular among expatriates and local Bangkok citizens.
Properties to note in this area include the Esse Asoke, a 55-storey residential development offering up 419 units of 1- to 3-bedroom apartment units which is slated for completion by 2018. Another notable project in this area is the Singha Complex consisting of 38 floors of grade-A office and retail space built on freehold land. Both are developed by Singha Estate Plc. As a Southeast-Asian economic powerhouse, Bangkok is but a slice of the big pie which has yet to be bitten, and there is potential to be harvested yet albeit away from the city centre where the pickings have thinned over the years. Foreign investors will do well to note that only 49% of a condominium development can be owned by foreigners.