Thailand’s real estate market is booming, with resort areas and markets in Bangkok expected to experience its biggest growth yet, according to Knight Frank’s research.
Frank Khan, Director of Residential Development at Knight Frank, said he is optimistic of the new government’s role in boosting the market.
“They can see light in the tunnel because they expect something going on with new government,” he said, referring to investors.
“They assume that new politic will bring them good economy and the most important thing is the megaproject will come.”
Megaprojects are considered the most significant way in which the government can impact the property market and getting several mega-projects underway can yield impressive returns.
The decline in the value of the baht is also hoped to lure foreign investment, with many experts forecasting a future exchange rate of between 32 baht and 33 baht to the dollar.
Meanwhile, sales in the resort sector have been dampened by the rainy season. This also provides a waiting period to see what kind of projects and policies the government under Yingluck Shinawatra will implement.
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