Six new luxury high-rise Condo Projects with a combined value of THB50 billion (USD 1.55 billion) are set to rise along the banks of Bangkok’s Chao Phraya River.
Despite the limited supply of prime plots in the area, the new riverfront projects, which will primarily target expatriate investors, were green lit that will cover about a four- or five-kilometre stretch along Charoen Krung and Charoen Nakhon roads. The new structures will stand adjacent to the existing fifteen luxury properties near the river.
Contrary to the current climate of fear towards investing in the Kingdom, SET-listed developer Golden Land Property Development Plc (GOLD) has announced it increased its amount of upcoming projects this year from 10 to 11, therefore worth more than 10 billion baht in total. In fact, the property developer remains extremely confident with regards to Bangkok real estate in 2014
Ever since protests started a few weeks ago in the Kingdom, investors have shown apprehension towards buying property in Bangkok and this situation is not likely to change in the near future-at least from an overseas perspective.
Most listed property firms are continuing to expand their investment in 2014, despite the domestic political turbulence and uncertainty in Thailand. With plans to launch new residential projects worth more than Bt272 billion combined.
Thailand property developer Raimon Land recently presented its latest assessment of Thailand’s two most active condominium markets, Bangkok and Pattaya.
Thailand political turmoil appears to have had relatively little impact on the property market in the current quarter, with most buyers continuing to have their homes delivered and construction still being carried out on time.