Demand for affordable condos on rise near industrial estates

Plus Property managing director Poomipak Julmanichoti said the company’s research in five locations near industrial estates showed that of the total supply of 40,000 residential units, 70 per cent had been sold, especially condominiums priced lower than Bt1.5 million. The five areas surveyed were in Rayong, Chon Buri, Prachin Buri, Khon Kaen and Nakhon Ratchasima provinces.

Meanwhile, the demand for detached houses and townhouses costing no more than Bt3 million is also growing. 

“Some locations in these five provinces also show demand for detached houses priced between Bt3 million and Bt5 million,” he said.

Locations likely to benefit from the government’s planned Bt2-trillion infrastructure programme are also showing stronger demand, he said.

Examples of this lie along the new route that will link Bangkok to Phnom Penh, Ho Chi Minh City and Vietnam’s Vung Tau port, which will pass through Chachoengsao, Prachin Buri and Sa Kaew provinces. Then there is the East-West Corridor connecting Thailand to Laos and Vietnam, running from Mae Sot to Mukdahan. Chiang Rai’s Chiang Khong district, with its proximity to Laos, also has potential.

Poomipak noted that the Board of Investment had reported that new projects receiving tax incentives totalled Bt700 billion in value by the end of August, up 15 per cent from the same period last year. This indicates that foreign direct investment will expand in Thailand, and that will boost the demand for homes, particularly around transport routes and industrial estates.