There are now better transit systems in major cities in Southeast Asia thus there are higher demand for suburban properties. Many real estate developers are trying to make use of the opportunity by providing more homes to the higher number of residents who are willing to commute when visiting the center of the city.
In Chatuchak subway, one of the stops in central Bangkok’s train system which is located 10 km to the north of the main station, a real estate developer with company name Sansiri is building a new condominium building. This new condo will have around 800 units. The surrounding area only has a few number of high rise buildings and it is in close proximity to the starting station of the new urban rail service called Purple Line that has opened in August.
As soon as the apartments were opened for selling, all of the units are sold on its first day of opening. Buyers are comprised of foreign investors coming straight from Hong Kong and other countries but majority are Thais who are planning to live inside the complex.
A partnership was already created between BTS Group Holdings and the second largest company when it comes to property development in Thailand. BTS Group Holdings is an operator of services provided to the elevated railway and they have lands that are close to the said routes. The two companies are already planning to invest around $2.86 billion by the year 2020 in order to build 25 properties which will include a number from the Chatuchak area.
There are also new commercial buildings that have opened up in greater Bangkok. Central group, the biggest name in retail, has recently opened last year the CentralPlaza Westgate located in Nonthaburi Province. This commercial establishment is said to be one of the biggest in all of Southeast Asia which houses around 500 brands, both foreign and local. The total floor space occupied by all the vendors is 500,000 square meters.
If you are not one who enjoys the hustle and bustle of the metropolitan lifestyle then you can look for condos for sale in Pattaya.