Even with the existing conditions threatening many Asian countries, all eyes will be on how the tourism industry can recover from the present situation with the coronavirus spreading. With Thailand relying heavily on the tourism industry, the government are looking to bolster local economies with major infrastructure project about to be implemented in 2020. They are looking towards a favourable time when the virus is under control, and the threat to life is minimal, and normality can return. There are several significant projects to be delivered. This, according to many analysts, 2020 is going to be in turn a growth year for the real estate market. With the interest rates still very low, investors will certainly look favourable at the market for an excellent ROI. Good news for the workforces that feed the tourism industry. A buoyant tourism market goes hand in hand with a robust real estate market.
Thailand’s economy is regarded as an ideal haven for the freelance workers that work abroad that make Thailand their home base. The fantastic climate, low accommodation cost and general cost of living, gives it the edge over other major cities around the world. Their contribution for a number of years is key regarding further investment in the property markets.
Many foreign investors, despite recent times ups and downs in the property market, have already turned a profit on their initial investments, search for other real estate investment opportunities that arise. Their success will attract other additional foreign investors. With the announcement of several significant developments in the Pattaya recently, the market is there for further investment.
Ambitious grassroots projects once underway will boost the economy of some provinces including Chachoengsao, Chonburi and Rayong. Significant incentives launched to encourage the private sector to support further economic development amongst the farming and tourism industries. A number of these projects are already well into the planning stage. Laem Chabang has a sizable investment in the deep seaport 3. The new high-speed train link from Bangkok to Rayong. U-Tapao international airport to get a significant expansion to facilitate an expected 10 million extra tourists. And of course the new Pattaya motorway.
Gecko, a long-established company, has been a substantial player in the real estate market for many years. With their experienced staff, many clients come from recommendations, people who have already experienced there service and care. Whatever property type you are in the market to buy or rent our portfolio is extensive, give us a call.