PROPERTY
Upcountry realty offers challenges, chances
- Published: 20 Mar 2013 at 00.00
- Newspaper section: News
The stellar growth in residential real estate last year was driven by strong demand. Thanks to favourable drivers including solid consumption, momentum from housing purchases after the great flood, tax incentives for first-time home buyers, and access to consumer credit, the real estate market has been upbeat.
Bangkok-based developers are eyeing opportunities beyond the capital, as shown by this advert for an 800-unit condo to be built in Khon Kaen.
The residential real estate market size in Bangkok and its vicinity now surpasses 300 billion baht, or a compound growth rate of 10% a year over the past five years. Nonetheless, various Bangkok-based developers are eyeing opportunities beyond Bangkok, raising interesting points: why do Bangkok-based developers need to expand to the provinces and will they be successful in establishing their franchises?
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