2017年 08月 18日

Quartet of factors to boost Thailand housing growth

New infrastructure projects, the Eastern Economic Corridor (EEC), smart city development in major provinces and senior living trends will help drive the growth prospects for the country’s residential development, says Deputy Finance Minister Wisudhi Srisuphan.

Speaking yesterday at the Home Buyers’ Expo 2017 at Queen Sirikit National Convention Center, Mr Wisudhi said the government’s investment in megaprojects, especially mass transit networks in Greater Bangkok, will help benefit residential development and accordingly offer good opportunities to developers.

“Many mass transit lines the government initiated last year will start construction this year,” he said. “They will boost development of housing projects along the lines.”

In many locations where supply is limited, the opportunity for growth of residential development will be great, Mr Wisudhi said, pointing to the Thon Buri area where two sections of the Blue Line (Hua Lamphong-Bang Kae and Tao Poon-Tha Phra) are nearly complete.

The Hua Lamphong-Bang Kae section is scheduled to open in September 2019, while Tao Poon-Tha Phra will start running in March 2020.

Along these two sections, many new condo projects have launched in line with construction progress, Mr Wisudhi said.

“Locations along these new sections will come closer to the inner city, as they will be linked by the mass transit line,” he said. “The community will become larger and crowded.”

He said locations along the Green Line’s Samrong-Samut Prakan section, to start running in 2018, are also attractive because Samut Prakan is a high-density province with large retail projects and factories to provide jobs.