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Bangkok is under­going a real estate explo­sion even as we speak with all the forei­gn inves­tors it is attrac­ting with its luxu­ry pro­per­ties mush­roo­ming over the land­scape of the city, slow­ly and stea­di­ly.  This pro­mi­sing gra­dient is a very posi­tive takea­way for the real estate indus­try in Thai­land and can sur­ely pave the way for other loca­tions in Thai­land to fol­low suit. With pre­mium luxu­ry ups­cale deve­lo­ped pro­per­ty rates in Bangkok ran­ging anyw­here bet­ween 6500 USD to 10,000 USD per square unit, the occu­pan­cy rate for last year for 120,000 deve­lo­ped pro­jects was 80%. Although Thai law is very strict and has abso­lu­te­ly no pro­vi­sion for faci­li­ta­ting forei­gners to own land in Thai­land but there is an exempt on forei­gn natio­nals owning deve­lo­ped pro­per­ties. Howe­ver, these fac­tors don’t seem to be deter­rents for the ple­tho­ra of forei­gners lite­ral­ly queuing up to invest in pro­per­ty in prime loca­tions such as bea­ch­front vil­las or super luxu­ry condo­mi­nium houses. As a result, the pro­per­ty values in Bangkok have an assu­red appre­cia­tion of at least 10% eve­ry pas­sing year and new pro­per­ties deve­lo­ped have increa­sing prices that are almost hit­ting the sky. The govern­ment of Thai­land impres­sed by the rising inter­est and invest­ment from forei­gn shores in Bangkok pro­per­ties has given the appro­vals to lay simi­lar plans of moder­ni­za­tion and real estate deve­lop­ment in Pat­taya with a view to repli­cate the same suc­cess and deve­lop other loca­tions in Thai­land as pros­pec­tive and lucra­tive loca­tions for attrac­ting forei­gn invest­ment. With the same inten­tion, Pat­taya and the Eas­tern Eco­no­mic Cor­ri­dor (EEC) have been gran­ted with the appro­val to deve­lop 168 infra­struc­ture pro­jects from 2018 to 2022 and beyond. The Pat­taya Eco­no­mic Cor­ri­dor has been segre­ga­ted into three phases for conve­nience and sim­pli­ci­ty.

Phase 1 of the EEC incor­po­rates and accounts for Urgent Pro­jects to faci­li­tate the connec­ti­vi­ty to the resi­den­tial and com­mer­cial real estate pro­jects such as :

High Speed Inter­ci­ty Rail­way Net­work
Mul­ti Lane Traf­fic Lane Modern Motor­way Sys­tem
Upgra­ded Modern Port Faci­li­ty Connec­ti­vi­ty
Connec­ting Roads To All Major High­ways and Inter­state Connec­ting Roads
Com­mer­cial Pier Sys­tems & Fer­ry Faci­li­ties Connec­ting Them

The above lis­ted ame­ni­ties are expec­ted to be fini­shed over a span of two years and will be rea­dy for use and imple­men­ta­tion before the real estate pro­jects are rea­dy for pos­ses­sion. Pro­jects are expec­ted to be com­ple­ted in a short-term. These pro­jects have an accu­mu­la­ted bud­get of 9.2 Bil­lion USD.

Phase 2 of the EEC pro­jects is sla­ted to com­mence in 2019 with a pro­po­sed com­ple­tion date by 2021. Phase 2 incor­po­rates Inter­me­diate Pro­jects.

The pro­po­sed cost of the inter­me­diate pro­jects is quo­ted to be around 13 Bil­lion USD.

The last invest­ment phase of the EEC will be the long-term pro­jects which shall sub­se­quent­ly begin in 2022 and stretch on inde­fi­ni­te­ly.

The worth of the long-term pro­jects is esti­ma­ted of 252.88 Bil­lion THB (7.9 Bil­lion USD).

The com­bi­ned cost of invest­ment in deve­lo­ping the Eas­tern Eco­no­mic Cor­ri­dor (EEC) for resi­den­tial occu­pan­cy and luxu­ry stan­dard of living is almost to the tune of 31 Bil­lion USD fun­ded by the Thai state trea­su­ry and the Royal Thai army par­tial­ly. It is high­ly recom­men­ded for those forei­gn natio­nals who are inter­es­ted in pur­cha­sing luxu­ry pro­per­ty in Thai­land that they consult our real estate agen­cy for our expert’s opi­nion and assis­tance in enabling their pos­ses­sion for owner­ship seam­less­ly. With Bangkok fast rea­ching satu­ra­tion and pro­per­ty prices soa­ring to the hea­vens, your dream home in Thai­land or a bea­ch­front vil­la can be rea­li­zed in Pat­taya. Visit our web­site Thai­land Doc­tor Pro­per­ty today or write to us to begin the pro­ces­sing today itself and jump ahead of the queue.

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