Statistics show that approximately 24% of the investors in the Thai real estate market, especially in Phrom Phong in Bangkok, are overseas buyers. Therefore, with respect to the world market, the interest in Thai real estate continues to escalate and hold interest for a variety of real estate buyers.
A recent review of the real estate market in Thailand shows that a house for sale in Phrom Phong, for instance, can be bought for 50% of the transfer fee that is imposed on the value of the real estate. Usually, the transfer fee is set at two percent of a home’s value.
Some Good Reasons to Live or Invest in Bangkok
Some of the buyers are among the 70,000 expat workers living in the city with work permits, 25% of whom are Japanese people. Many of the investors and buyers like the balmy and warm daytime temperatures, which stay at about 30 degrees Celsius year-round.
What You Get for Your Money
About £100,000 will usually enable you to buy small condo flat. A price tag of £1 million will permit you to consider a five-bedroom condo in a high-rise building.
Phrom Phong itself is part of a Bangkok neighbourhood that is considered culturally diverse. The area is peppered with trendsetting eateries, art galleries, and boutiques. The Benjakiti Park is a favourite venue for runners, while upscale shopping abounds at the Emporium Bangkok Mall.
People live in and visit Phrom Phong because the shopping mall offers world-renowned designer retail stores, state-of-the-art exhibit space, a large movie cinema, a food court, and a major supermarket. The retail centre is closely situated to the Phrom Phong BTS Skytrain.
Investors know that Phrom Phong real estate then is a good choice, as the area is close to refined shopping and is in a pleasant locale weather-wise. With its gold-accented white walls and glossy marble floors, the Emporium Mall spells refinement. Whether you choose to buy a property in Phrom Phong or invest in real estate, the area is a haven for select properties. If you take a walk through the Emporium Mall, you can better understand the area real estate market itself.
As you enter the market enclave, you can hear the sound of soft jazz music. Doormen in white uniforms greet customers into a mall world where haute couture is the rule instead of the exception. Grand floor retailers include such high-end labels as Louis Vuitton, Prada, Hermes, Chanel, Dior, and Mont Blanc. Trendier designers’ brands are found on the upper floor of the shopping complex. The trendier tags feature Guess, Zara, Paul Smith, and Ck by Calvin Klein, just to name a few.
Taking a View of the Neighbourhood
Shoppers who visit the Emporium Mall are either tourists or locals – which, again, also gives you a clue about the real estate market. Investors like to invest in real estate in Phrom Phong as properties can either be used for home residences or turned into rentals for holiday-goers, too. You can tell a lot about a neighbourhood by visiting its shops and spending your leisure time in the local parks.