29 Sep 2022
The Future Of The Real Estate Business In Thailand
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The Future Of The Real Estate Business In Thailand 

The real estate industry has always been flourishing in Thailand. People are working hard to save money to invest in real estate. The demand for decent accommodation with all modern facilities has always been in the market.

Similarly, Grand Unity Development Co. Ltd has been operating for over twenty years. This real-estate company promises to provide the best of Condo Kaset (คอน โด เกษตร, which is the term in Thai) at the most affordable price.

The best part about the real estate company is that they focus on building a property that will help you learn the art of living. Among the hectic lifestyle of the urban lifestyle, it allows you to enjoy nature while keeping your peace and privacy undisturbed.

Crucial Factors That Have Impacted The Dynamics Of The Real Estate Business

  • According to the reports published by the Real Estate Information Centre of Thailand, the demand for real estate properties decreased after the pandemic. The main reason behind the fall in order is raising economic problems due to COVID-19.
  • During the pandemic, many people lost their jobs while others lost all their savings in treating Covid. It led to a heavy impact on Thailand’s economy. Exports and tourism also play a significant role in Thailand’s economy, but they dropped sharply due to the pandemic. It also resulted in the active fall of housing prices.
  • High prices of properties have also resulted in a decline in demand. In the last five years, the prices of condominiums and townhouses have increased. Even during an economic recession, people had to take loans to keep their instalment payments. It ultimately forced the bank of Thailand to interfere and establish a middle ground to regulate the housing and real-estate loan sector.
  • Because of a lack of demand, the developers have adopted a new way of dealing with the situation. Keeping the position in mind, they have launched a limited number of Condo kaset. It ensures that whatever they build will be sold within a stipulated time.
  • Developers have now started giving exciting offers and special discounts to attract more consumers for Condo kaset. With the help of exciting offers, they expect more business and an improvement in the current scenario of the real-estate sector.
  • It is also stated that the expansion of electric train networks has resulted in rising real-estate prices. It has forced people from lower-income groups to move to less populated suburbs. Because living in the city is quite expensive, the price of the properties in the suburbs is much more affordable.

Conclusion

Thus if you are planning to purchase a house or a fancy property in Thailand, do the market research first. It helps you understand what kind of property you should go for. Even though the housing industry is trying to get back on track, it will take a while.

Instead, you might consider looking for properties in the suburbs because it is expected that the Tai real-estate sector will soon receive heavy investment. Big names like Grand Unity are bound to the best of service at affordable prices.

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