It is not surprising why many investors are interested on Single House in Sathorn that is closely located to the business area. The business area of Bangkok is home to many splendid restaurants, shopping malls and entertainment venues for both young and old alike. An investor can easily rent out the single house to expats or corporate executives who want to settle in the city.
At the recent Thailand Tourism Forum, industry experts revealed that Bangkok is very close to becoming a mega city. In the next five years, Bangkok will complete the expansion of its subway system to provide more opportunities for the travel and tourism industry. The forecast is good news to real estate developers.
According to Bill Barnett, managing director of C9 Hotelworks, the metro line across Greater Bangkok will be 464 kilometres long in the next five years. It will surpass the length of London’s metro line that is only 402kms and that of New York‘s 380-km subway system. The East will soon become the new West particularly since it will be accessible to 3 international, interconnected airports, Suvarnabhumi, Don Mueang and Utapao.
JesperPalmqvist, director of STR a global research firm, said that Bangkok is on a “strong growth trajectory” in terms of hotels and infrastructures. Hotel performance has experienced 3 years of stable growth to firmly put the 2014 decline behind. In November 2017, RevPAR grew by 3.4% year-on-year. A reasonable strong supply increase at 4.1% was also significantly noticed.
The impressive numbers are the result of a stable demand growth of about 5% for 18 months in 2015. Hotels however were only able to increase rates by 2% because of the competing products launched in the market. Meanwhile, growth is not short-term because less than 7 months in 2017, 10-year records exhibited absolute RevPAR performance.
Because of traffic, many expats prefer to live in a Single House in Sathorn because it is within walking distance to a BTS train station or the MTR underground. Some areas have the boat service which is cheaper and less crowded. Expats prefer to rent single homes because of the existing restrictions on foreign property ownership.