A tale of two cities _ bangkok and yangon face off as AEC 2015 nears
The coming formation of the Asean Economic Community will see a major influx of foreign workers and while the Thai capital's market is thriving, Myanmar's economic hub wins in affordability, if not quality
- Published: 19 Aug 2012 at 00.00
- Newspaper section: Spectrum
Southeast Asian countries will become a single economic community in 2015. As people in each of these countries will be able to move around freely and work or live in any other member nation, there will be a direct impact on the property market in the industrial, office, retail and especially residential sectors.
Residential demand is expected to be particularly strong to accommodate an influx of workers, particularly in condominium units. These are the best choice for foreigners as they are safe, have supporting facilities and easy access, maintenance fees are lower than houses and they are most suitable for one or two people. But as 2015 has not yet arrived, property markets in most countries still focus on local buyers, with the exception of Malaysia and Singapore. Myanmar is also becoming very interesting at the moment as foreign investors are looking for opportunities there to either expand existing businesses or start new ones.
BANGKOK
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