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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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