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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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