Whether one is discussing conventional property markets or the construction of eco property, it appears as if Thailand is going to be one of the more competitive markets this year.
There are currently over 100 different projects being worked on in the Bangkok area alone as far as increased supply goes and these projects collectively represent an overall investment of approximately THB 75 billion. These figures come from the Agency for Real Estate Affairs (AREA for short) and their figures tend to be very reliable in accurately judging a particular market or situation.
In economic terms, the supply combined with the high demand that already exists for property in Thailand could end up being the key factors in another surge in Thailand property prices over the 2008 year. There are certainly many analysts that feel that the economic situation in Thailand is one that is very good. However, those same analysts are also worried about political turmoil that might mar what is otherwise a very nice-looking situation for the country.
Ultimately, only time will tell whether the political situation in the country will get better or worse, but if conditions stay the same as they are right now the big winner in all this will be the group of investors that have already put or are going to put money into the Thai property market.
Another positive note to consider is the recent commitment on the part of Thailand to take a closer look at creating property that is environmentally friendly. Apparently, the government within the country as well as many private developers are starting to take the threat of global warming seriously and that has led to a concerted effort to look into ways of constructing eco property at affordable rates. Since there is some demand already for eco property at reasonable rates, the Thai property market could be in a position to capitalise on that demand in a big way just a few months down the road.
