Thailand Property Report by Dawn Ferguson With housing allowances in the range of Bt70,000 to Bt100,000 a month, Bangkoks high-paid expatriates have money to burn – and they want homes with all the Western-amenities theyre accustomed too.
For condominium and apartment owners, this segment of the market is a potential gold mine, particularly given most of these expects are here on a short-term basis. The statistics certainly are promising, but as competition grows, its not an easy market to enter.
CB Richard Ellis Thailand executive director James Pitchon told Property Report Thailand that demand for high-end rentals increased in 2006 and the number of expatriates in Bangkok with work permits grew to 67,412 in 2006, a 12.5% increase year on year according to statistics by the Alien Occupational Control division of the Department of Employment. The largest segment of this market is Japanese – 22% – as the so-called land of the rising sun is the largest foreign direct investor in Thailand.
Pitchon noted that the rental market is in actuality even higher, as those numbers exclude diplomats and agencies such as the United Nations. They...
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