The demand for new build homes in
Thailand is driving strong growth in property prices in the Asian country. A new report from the Thai Home
Construction Association has found that growth is particularly strong in the
north, north-east, and south of Thailand.
This increased demand for new
homes is partly being driven by demand from wealthy Thai investors and also
from overseas buyers. Keep reading
to learn more about this booming sector of the Thailand property market.
Prices of new build property in Thailand up sharply in 2012
The Thai Home Construction
Association reported that prices in the north, north-east and south of the
country have risen by between 15 and 20 per cent in the opening quarter of
2012.
Property Showrooms reported that
the surge is partially due to wealthier Bangkok residents looking to buy a
second home outside of the capital.
Property prices in Bangkok only showed a marginal growth in the first
three months of 2012.
With high demand, buyers have
been forced into quick decisions in order to secure their choice of new build
property. This has led to a
shortage of labour, particularly in the countryââ¬â¢s capital.
President of the association,
Sitiporn Suwanasut, says that the shortage of construction workers is partly
caused by the number of provincial workers who returned home from Bangkok after
the floods in 2011.
It seems the price of new build property in
some areas of Thailand has risen sharply this year. With increased foreign interest in the country and a
shortage of property, itââ¬â¢s a very competitive market.
Tourist markets such as Phuket
and Koh Samui remain popular with tourists and also with British and European
buyers. However, you may have to
move fast to secure the property of your dreams.ââ¬Â
Author : Nick
Marr
