Phuket Property Watch Your Eyes on Real Estate in Thailand
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The Thailand property market has seen quite a bit of activity recently, with developments in both commercial and residential sectors. Work has begun on a section of the ‘Riviera’, a new development that is expected to boost the local property market. The Bangkok Post reported that this project is expected to enhance the attractiveness of the area for potential investors.
In the hospitality sector, IHG Hotels & Resorts is set to launch the Garner Brand in Southeast Asia, starting with an opening in Pattaya. This development, as reported by Hotel News Resource, is expected to bring a new wave of tourists to the area, subsequently increasing demand for local properties.
Interestingly, a report by Money & Banking Magazine highlights the rapid growth of Thailand’s creative industry, now exceeding 1.44 trillion baht. This development could indirectly influence the property market as it attracts more entrepreneurs and businesses to the country, potentially increasing demand for both commercial and residential properties.
On the international front, the initiation of negotiations on the Thailand-UK Free Trade Agreement (FTA) is another development worth noting. As reported by Theinvestor, the FTA could potentially open up more opportunities for UK investors in Thailand’s property market, marking a significant development for the real estate sector.
While some of these developments directly impact the property market, others have indirect implications that could shape the future of the real estate sector in Thailand. As the market continues to evolve, both local and foreign investors should keep an eye on these trends for potential investment opportunities.
