Conveyancers in Thailand have noted that huge increase in conveyancing done for office space sales in 2009. Last year they say would be recorded as one of the best years for commercial property in Thailand. For the past year the about of office space sold in Bangkok has been the highest than what it has ever been. More than 10 Billion Baht worth of commercial property had been sold during this period. Most Thai conveyancers agree that the market for commercial space has never been this good as most investors are looking at 2011 as being the year when they will expect high returns on these properties.
The largest buyer in the market was CPN property funds who purchased two office towers for just under 6 Billion Baht in Central Pinkloa. Sala property was the next largest buyer as they purchased a huge amount of A Grade office space for just under 2 Billion Baht. What is interesting to note is that the amount invested in commercial office space in Bangkok shows that most investors and property funds view the next few years forward as being a massive growth phase in commercial property and an ever expanding economy.
Office space has always been viewed as a low risk investment in Thailand. If they are well managed and located they tend to provide income streams for many years as there is always a need for more office space in central areas. Returns on office space in Thailand has always seen an income of between 5% and 7% which is very high when looking at the global market and the cost of office space compared to say London. This is always of interest in Thailand as government bonds and fixed deposits in Thailand tend to be very low being in the region of 1-4%.
If you are looking at investing in office space in Thailand be it Bangkok, Pattaya or Phuket then speak to any of our conveyancers in Thailand. With offices in all the major city centers of Thailand our conveyancers would be able to assist you with legal advice better than anyone else.
Speak to our Thai or expatriate conveyancers today!