With a population of over 8 million people, the city of Bangkok is the most populous in Thailand. Not only does this make it a culturally rich place to visit, but also a busy place in terms of business. Most Thais are more than happy to have their country join the numbers of economically well-developed nations, so they are encouraging when it comes to foreign businesses and property ownership.
During the banking and investment boom in the 80s and 90s, Bangkok became a major player in the region. Many globally-recognized corporations saw an opportunity to set up their operations there and do business. This investment has meant that Bangkok remains a business-friendly environment and a great place to invest money.
In fact, this rapid economic growth has seen the city expand at an unprecedented rate, which has resulted in Bangkok becoming one of the most popular tourist spots in the region, having both a historically-rich culture on which to draw, and the seat of many of the famous bar and red light districts that draw so many tourists every year. In economic terms, Bangkok contributes nearly 30% of the GDP nationally each year. This means that it is the nation’s biggest economic center.
Investing in the Property Market
One result of Bangkok being the economic center of the country is the vibrant real estate market that it also offers. Foreign property laws have been relaxed in recent years, and this has caused a significant increase in the amount of foreign capital pouring into the local economy due to new businesses starting and foreign property moguls looking to expand their portfolios to include townhouses and many newly-built luxurious properties. When looking to buy a property in the city, there are numerous convenient websites that offer a Bangkok townhouse for sale as well as many other properties.
The mix of both old and new side-by-side in Bangkok is often a huge draw for investors. Though the city itself often seems a haphazard affair when it comes to city planning, the vibrancy of the atmosphere and the mix of business opportunities there make it a truly compelling center for investment.
Being Careful When It Comes to Investing
Though Bangkok represents a fantastic opportunity for foreign investment in either local business ventures or real estate, it is always important to practice the following:
- Research: Before diving into any lucrative market, it is important to do your research. Nations like Bangkok may be eager to invite you to be a part of the economic action, but conducting thorough research into the market first is a good idea.
- Agents: It is important to find a local agent to advise and represent you as a foreigner. He or she will understand the local market and the culture, and how to find a good deal.
Bangkok is the biggest economic center in Thailand and it is without peer in terms of business and investment opportunities, but it is also wise to do as much research as possible before investing and speak to a local agent with experience.