Project challenging developers
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THE NEW Bang Pa-in-Nakhon Ratchasima Motorway project is daring property developers to expand in this area by focusing on the high-end market, according to CBRE (Thailand) Co.
Charnwit Pasuwat, director of development consulting, said yesterday that the motorway, which will be completed in 2020, and the Bangkok-Nakhon Ratchasima high-speed railway were driving up real-estate prices in Pak Chong and Khao Yai.
According to the company’s survey, the high-end real-estate market in Khao Yai has continued to gain momentum, with demand for both villas and condominiums seeing constant growth since 2013.
Buyers range from the new generation of executives and businesspeople to families who are looking for a holiday home or retirement home for the future.
Nye Estate has launched its first luxury villa estate outside Bangkok, the Bt2-billion Thyme Hill Village in Khao Yai on a 40-rai (6.4-hectare) site. Managing director Sutee Limpanachaipornkul said the company decided to develop a residential project at Khao Yai when it saw strong demand for luxury villas in this location.
“We focus on the new generation of executives, business owners and large families who want to buy a vacation home,” he said.
