THE Property market will growth by 5-10 per cent nationwide next year, especially in Greater Bangkok, thanks to the government’s investment in infrastructure projects, said the president and chief executive officer of Pruksa Real Estate, Thongma Vijitpongpun.
"When the government starts to invest in infrastructure projects, that will open up new land for property firms to develop residential projects. This will challenge property firms to invest in the new locations following the new mass-transit route from Bangkok to the suburbs and [nearby provinces]," he said.
Meanwhile, investment in infrastructure such as railway double-tracking, motorways, and 10 new mass-transit routes will make Thailand a regional transport hub after the Asean Economic Community goes into effect at the end of this month. This will boost demand to buy homes in Thailand, both in Bangkok and in the provinces, as foreign companies invest in Thailand as a gateway to other Asean countries, he said.
"We believe that Thailand's property market will show average growth of 5-10 per cent a year from 2016-2020," he said.