According to Asian Review, last year approximately 7.5 million Chinese travelled to Thailand. This is more than any nationality that chose Thailand as their vacation destination. Investors are also flocking to Thailand to take advantage of cheap holidays and real estate investments. Asian buyer accounted for 80% of the total sales to foreigners in Thailand. The number of Asian investors from Hong Kong, Singapore and Mainland China has surged to 140% last year.
Why is Thailand so in demand to foreign travelers? People love the beaches and street food including the warm welcome from the local Thais. The beauty of Thailand’s environment as well as the affordability of entertainment and other amenities has led to the tremendous growth of Thailand’s real estate industry. The industry is enjoying between 8 and 10 returns from rental income of holiday homes.
The world is suffering from economic crisis but surprisingly, the real estate industry of Thailand is still on an upward trend. In fact property prices in Bangkok have increased by 30% over the last four years because people consider the city as a good location for an investment. Chinese tourists are travelling to Thailand and the real estate market expects new gains. Chinese investors are taking advantage of their strong currency and close proximity to Thailand to invest in second homes.
Even five-star hotel chains are investing heavily in Thailand in anticipation of tourism growth. Ritz Carlton is starting construction of its beach projects while W Hotel, Six Senses and Four Seasons are doing extremely well from their accommodations. This year, the average housing project in Greater Bangkok costs about 3.542 million baht compared to the price of 2.718 million in 2008. A total of 44,846 new are currently under construction with a combined worth of 158.81 million baht. The entire island of Thailand has also improved its services for the tourism industry making it more profitable for businesses.
If you are visitor in Thailand searching for condo for rent Bangkok, you have a wide range of choice. Many foreigners are investing in condo units because it is legal for them to do so and these units are often leased to visitors to gain a monthly income.