Among these sleek Bangkok skyscrapers, a newcomer has quickly captured the imagination of luxury connoisseurs, according to Yeoh: “Shush by Sansiri is a residential property that sets new standards in urban exclusivity with a stunning blend of upscale design and cutting-edge amenities, skillfully balancing silent elegance with the energetic heartbeat of the metropolis.”

Shush’s architectural grandeur conceals meticulously curated interiors complemented by lush green spaces and wellness facilities, offering residents a tranquil haven in a city that never sleeps.

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According to Knight Frank Research, the property values in Bangkok’s prime areas like Sukhumvit, Silom, and Ratchada have consistently risen, marking an average annual increase of 5-8 per cent over the last five years.

“This uptrend is a clear indicator of the city’s growing prominence in the luxury real estate sector. The influx of foreign investment has also been notable, increasing by approximately 20 per cent in the past year, spurred by the relaxation of property ownership laws for foreigners. Investments from East Asian and European investors have been particularly significant, diversifying the market and enhancing its global appeal,” explains Yeoh.

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The economic underpinnings of Bangkok’s real estate boom are as robust as they are varied. Thailand’s GDP growth, averaging 3-4 per cent annually, coupled with rapid urbanisation, has been central to this development.

With a forecasted 10 per cent increase in the city’s population over the next decade, this will further amplify the demand for real estate in prime locations. Not to mention a burgeoning middle class, with increasing disposable income, who have been particularly instrumental in driving the demand for mid-range to luxury properties.

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The Thai government’s strategies have also been pivotal in shaping Bangkok’s real estate market. Key policies include easing the restrictions on foreign property ownership and offering attractive tax incentives, making the city a more accessible and appealing market for international investors.

Furthermore, significant investments in infrastructure, particularly the expansion of the BTS (Skytrain) and MRT (Metro) systems, have enhanced connectivity, opened new development areas, and subsequently increased property values.

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For investors, the rental market in Bangkok, particularly in the luxury segment, offers lucrative opportunities.

“High occupancy rates and attractive rental yields, averaging between 4-6 per cent annually as reported by Knight Frank Research, underline the market’s resilience and appeal. This is particularly significant in a city renowned as a major tourist destination and a hub for expatriates,” states Yeoh.

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Despite its promising outlook, Bangkok’s real estate market is not without challenges.

“Navigating regulatory complexities, market fluctuations, and the impact of global economic trends requires astute judgment and informed decision-making,” stresses Yeoh. “Yet, the market presents unique opportunities, especially in areas of sustainable development and affordable luxury.”

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Looking ahead, the luxury segment of Bangkok’s real estate market is poised for continued growth.

Yeoh concludes: “Projected increases in property values of 5-7 per cent annually over the next five years highlight the market’s robust potential. The city is also likely to see a shift towards smart and sustainable living solutions, aligning with global trends and local preferences.”

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