Positive Effect on Thai Real estate during Covid-19 outbreak
The COVID-19 Pandemic has affected to people in various terms especially way of their life which occurring as new life-style of living, defined as “New Normal”. Moreover, this new emerging has impacted to turn over real estate market as well.
Due to the adaptation of people’s behavior based the new change, the high growth of uncertainty avoidance has influenced on decision-making in order to buying high-priced item. Therefore, many developers have shifted their strategies, considering how they can continue their business.
Best time to Buy, that’s right to find new Condo NOW!
Even the pandemic wave came to affect on real estate market, however “Every coin always has two sides”. And this another coin’s side might turn to your big opportunity!
>> So, Let’s reach together and know more what those opportunities are coming to you!
As mentioned above, the new normal phenomenon has come to turn over real estate market. And most people are under high uncertainty especially way to purchase high-priced item like property product. However, it is currently showing as many good signs for buying property in Thailand which might be great chance with limited best time for people who seeking to own the property. So, let’s go into details;
• The opportunity of relationship between transport accessibility and residential property’s value
As we’ve known, the location of transport accessibility is the big factor that definitely affects on the value price of property. And from now on until next few years, many upcoming transit line’s development projects in Bangkok and its perimeters are expected to be operated, for instance;
According to Bangkok’s Governor reported, the operation of extension green line will be available by the end of this year. Moreover, it includes all rest of stations which showing to be complete its final phase. Then for this transit line will come to serve the interconnection of Bangkok and its 2 nearby provinces including Phathum Thani and Samut Prakan.
Nevertheless, from now on electrical mass transit are expected to launch within 5 years, for instance SRT Dark Red Line, it planned to be launched by 2021 and based on 2 main running line which starts from Thammasat University’s Rangsit campus to Maha Chai in Samut Sakhon and another one, Nakhon Pathom to Hua Mak in Bangkok.
Go to more details:
[i] Green line operation: https://en.origin.co.th/this-third-of-june-official-day-to-operate-for-4-stations-of-green-line-extension/)
[ii] SRT Dark Red Line: https://en.origin.co.th/long-waait-is-finally-over-confirmed-srt-dark-red-will-be-launched-by-2021/ )
• The opportunity of rapidly changes towards the implementation of technology
New normal not only serves people to increase the level of uncertainly avoidance. But also in field of technology, it has been implemented and become to positively impact on society towards new way of people’s life. And on the other hand, real estate market becomes to the outstanding one that shows to be able to implement technology into its line.
Meaning that technology will come to be a part of its process, starting from selling & buying term that the customer can select their favorite unit at home via online live video then they can complete payment process via online banking as well.
Moreover in part of life and living, technology also comes to help people as well. For example, it shows in form of smart home automation via mobile application.
• The opportunity of high competition on market during the outbreak
Covid-19 outbreak is defined the one of greater global crisis which definitely comes to affect on market activity for sure. Also, any players on various industries have to change its strategies towards making themselves survive during this great crisis. In the real estate market, commercial competition has continued rapidly growth than usual, showing on both qualitative and quantitative terms towards better goods and services e.g. good quality product and lower pricing etc.
As mentioned above, special offering or limited time deal are given by many developers. For group of customers, it is therefore the great chance for gaining comparative advantage.
And, we hope that all of these could make you positively change on your mind. As well as while the chance comes with limited time, we therefore strongly recommend you find your best one now!