The real estate market in Thailand is looking up, with markets in Bangkok and resort areas expected to see the biggest boom, according to recent research from real estate developer Knight Frank.
Land appraisal prices and condominium valuations in Bangkok are expected to increase in 2012, with growth driven by infrastructure improvements and the expansion of mass transit systems, particularly in prime areas such as Sathorn, Sukhumvit, and Ratchadamri.
Asian are expanding their investment in Thailand's property market, both in Bangkok and upcountry, as prices here are still lower than elsewhere in the region and because the Asean Economic Community (ABC) will come into full effect in 2015.
Land prices in Bangkok have surged following the Treasury Department's first review in eight years, with significant increases in Yaowarat, Silom, and Phloenchit roads affecting land taxes.
Property firms are planning to ask the incoming government after next month's election to revise the taxation system related to buying and selling residences and to introduce fixed interest rates for first-home buyers as a long-term policy.
Rush to launch new projects sends land prices soaring
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