Meanwhile, developers will concentrate on ‘mixed-use’ projects, and incorporate smart home technology to enhance user experiences in response to current real estate industry trends.
In Bangkok, Chatuchak, Suanluang and Phyathai are identified as high growth areas, in addition, Pom Prap Sattru Phai and Bangkae both benefit from the extension of the MRT’s Blue line that had resulted in land prices increased by over 36 per cent.
Kamolpat Swaengkit, country manager for DDproperty, said: “We will start to see new properties equipped with technology and innovations entering the market.
“Simultaneously, in response to Thailand’s ageing society, there will be more development projects focused on the elderly population. Plus, as a result of skyrocketing land prices in the central business districts, developers will protect their assets with mixed-use developments that can sustain investment yields. This includes several joint venture projects that are a success since the partners can complement each other with their individual strengths.
“Recently, we started to see several property projects in Thailand having been developed with smart home credentials by integrating new technology into the electrics or even to control the temperature. With this evolving trend, today homebuyers not only consider the overall design and facilities, but they also take into consideration functionalities too in order to help enhance life,” Kamolpat added.
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