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Singaporeans pick Chiang Mai

Harsh measures at home drive buyers here

Chiang Mai's property market is expected to reap a windfall from Singapore's latest measures to cool its real estate sector as prices in the northern Thai capital are still lower than those in some other destinations in Thailand.

Announced on Jan 11 this year, the measures _ the seventh round to date _ will likely drive more Singaporean investors to buy properties elsewhere, said Matthew Lin, director of the Chiang Mai-based property developer Summit Global Developments Co Ltd.

"In light of the latest measures and soaring property prices in Singapore, investors will definitely run out of Singapore, as they are not confident whether there will be any other measures at home in the future," Mr Lin said.

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Your comments

  • boons

    United StatesPost : 662

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    Discussion 1 : 21 Jan 2013 at 13.081

    Thailand looks very similar to Spain and Greece for European buyers in 2003. It was a wonderful ride. Prices went to the moon. And then Spain and Greece were destroyed and their people plunged into poverty.

    Where are the voices of caution? I see only greed and unbridled enthusiasm from both industry and media.

    Dear Bangkok Post editors: Historically speaking, rapidly rising real-estate prices are almost never a good thing. It's one of the most obvious economic warning signs there is. Yet most of your real estate articles cheer inflation and take quotes from industry executives instead of economists.

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