Thailand, for the last year or so, has been the best kept secret in the international property market. When places like China and India were creating worldwide interest in their own property markets, Thailand was quietly getting its own house in order and slowly expanding its real estate market to the point where it started to attract international attention.
Now, with the promise of a new government that is expected to do big things to push the property market forward, that initial upspring of international interest has become a full-fledged geyser as analysts predict huge gains in the property sector fuelling an overall bullish economy if the government changes hands without incident.
One of the reasons that people feel this way is the prospect of the new government pushing ahead to implement mega projects within the property markets of Thailand. These mega projects are expected to stimulate the economy and use the "rising tide lifts all boats" approach in order to create massive gains and returns on investment by both domestic and foreign property owners.
A good example of such a project is the Azaya, a property project by Chaing Mai in the northern area of the country that is already 60% booked in terms of property firms and investors having purchased bits and pieces of it. If more projects like this area created, they could spurn higher investment and tourism which in turn would help offset some of the inflation problems that rural areas of the country have been experiencing recently.
However, it is important to realize that this is all riding on the uneventful transfer of power from the old government to the new government, and it is also riding on the fact that the new government put forward mega project proposals as well as other economic proposals to stimulate the economy on all sectors, not just the property sector. Many analysts will be closely watching Thailand in the upcoming period of time to see if these things happen.
