Property development in Asia seems to be reaching its peak as more people are looking into buying homes or vacation properties there. Southeast Asian cities have been growing the fastest, especially due to the infrastructure developments and the interest of expats to move into cheaper Asian cities.
In 1997 there was the Asian financial crisis and since then property markets have greatly developed offering a wide range of rentals, villas, apartments or even vacation properties to those interested. For locals, things got a lot better when the government improved the housing finance structure offering more options for mortgages. Nowadays the market experiences a 50% increase and continues to increase as some of the Asian countries are just starting their real estate development process while others are already established on the real estate market.
In Thailand, the property market started developing in the 80s and now it’s an extremely profitable area that attracts a lot of investors every year. Unfortunately, the Asian financial crisis hit Thailand pretty hard and it wasn’t able to improve its condition until late 2000s when investments started again. Investing in Thailand is still considered to be a great opportunity even after years of investors improving the market and prices rising. A lot of them are focusing on tourism and offering vacation rentals but there are also many expats interested in living there, especially areas like Bangkok, Phuket or Koh Samui. Koh Samui condos project is probably the most sought out investment for exclusive properties and it is slowly starting to be a luxury retreat for people all over the world, especially Russia, China, India and the US. A lot of the properties developed now in Koh Samui are created with the foreign investor in mind and people can buy a wide range of properties for their personal or business needs. Economic experts believe that even with this huge development that has happened lately, Thailand is still in its beginnings when it comes to the development of real estate.
The Philippines, although probably one of the worst affected countries by the 90s financial crisis is also a market that has been greatly developed lately. Property prices are very low and it seems to be the next Asian gem in terms of investing. However, things aren’t as developed as in Thailand and there are just a few areas where people focus their investments, such as Manila, a heaven of luxury properties.
Singapore’s real estate market is pretty vulnerable but investors can find a lot of good opportunities where they can make a profit. The most important factor is the rising inflation and the degrading exports made by the country.
The Asian market is a great way to invest nowadays but investors shouldn’t go there on their own as there are many experts that can advise them what is the best possible outcome for their investments and what direction they should focus on. Although some countries might not be stable enough for investments, there are some excellent opportunities for those looking to invest in safe areas.