Bangkok is a quickly developing city. The old part of the city is quickly emerging with the new. High rise Bangkok Condos are quickly overshadowing the old run down dilapidated low rise buildings. The new Bangkok with its impressive air conditioned modern malls is now the norm. Bangkok itself is unique; next to a multi-million dollar building it is still common to find an old shanti house and street vendors competing against modern goliaths like Starbucks and Mc Donalds.
The infrastructure has changed dramatically over the years. The old canals, in part have since made way to the modern Sky Train and underground, locally known as the BTS and the MRT. Since opening its doors and accepting its first customers in December 1999, the BTS has changed the way locals and ex pats navigate the city. Locals and Ex-pats looking for a Bangkok Condo tend to favour a condominium located near to the BTS and MRT. Obviously this has had a dramatic effect on the Bangkok real estate market. Condos, houses and apartments along the BTS have increased in price exponentially. The prices of condos per square meter are now catching up fast with their Asian neighbours. Super luxury condominiums are in high demand and remain popular investments for local wealthy Thais and foreigners alike who are interested in the increasing rental yields. Rental prices along the BTS and MRT are far hiher than other parts of the city.
Is this part of a boom cycle that will eventually collapse? Difficult to say, and if you invest in property you will always take your chance. However it seems difficult to imagine another collapse like the East Asian financial crisis of 1997. Despite the fact of ongoing political turmoil Bangkok remains buoyant and the property sector in particular remains strong with prices increasing steadily year on year. With Thailand set to join 9 other ASEAN countries in 2015 including Singapore and Malaysia, heralding in a new era economic cooperation the future for Bangkok and Thailand remains upbeat.