Bangkok's property market is a treasure trove of opportunities for astute investors seeking real estate developments that can be rented to expatriates or for long-term capital appreciation. Despite a slowdown in new condo projects, the allure of Bangkok's real estate continues to captivate foreign buyers. Expatriates, particularly those from mainland China, are flocking to Bangkok in unprecedented numbers, drawn by the promise of a high-quality lifestyle. In fact, they invested a staggering ฿15 billion worth of luxurious condominiums from January to August 2022 alone based on an article written by Bangkok Post. Reuters has also highlighted the allure for Chinese investors who view Bangkok as an opportunity to acquire upscale homes that would be out of reach in their home country's first-tier cities.
Investing in Bangkok's real estate offers more than just potential financial returns; it provides an enviable lifestyle, access to world-class international schools, top-notch medical facilities, and the freedom to travel in and out of the country with ease. According to REtalkAsia, tourism has rebounded with vigor, welcoming 11.2 million visitors in 2022, significantly contributing to the country's thriving economy. The World Bank projects a robust GDP growth of 3.9% for this year, surpassing the 2.6% achieved in 2022.
If you are thinking of investing in Thailand's real estate market as a foreigner, it offers an enticing opportunity with clear regulations. Foreigners can purchase a condominium in Thailand under their own name, provided that no more than 49% of the project is owned by non-locals, and there is no minimum price threshold for foreigners to invest in Bangkok.
Thailand's property tax system is also straightforward as compared to other jurisdictions. Typically, there is a transfer fee of 2%, which can be shared between the buyer and seller. Additionally, a specific business tax of 3.3% applies if you sell the property within five years of acquisition. In stark contrast to the Additional Buyer Stamp Duty tax in Singapore, which starts at 17% of the property price, Thailand's tax rates are significantly lower. For those considering renting out their property, the rental income tax is also favorable, averaging around 5% of the rental income.
Top View of The Strand Thonglor
Among the desirable neighborhoods when it comes to investing in Bangkok, Thonglor shines as a trendy hub in Sukhumvit. With a vibrant nightlife, an abundance of coffee shops, and world-class restaurants, this area attracts tourists and expatriates seeking a buzzing lifestyle. Thonglor also provides easy access to popular spots like Phrom Phong and Asoke. The rental potential in Thonglor or Sukhumvit is impressive, with units fetching up to 900 baht per sqm monthly. JLL also shared that foreign demand has even pushed average rental prices up by nearly 30% since January 2023, making it an enticing investment opportunity.
The Strand Thonglor, a joint venture between Magnolia Quality Development Corporation (MQDC) and Eden Estate Corporation (formerly known as One.Six Development), epitomizes modern living and contemporary elegance. MQDC, an award-winning developer committed to "For All Well-Being," has consistently received recognition for its exceptional development, design, sustainability, and innovation. From 2019 to 2021, the company has amassed over 40 accolades, solidifying its reputation as a leader in the industry.
Main Entrance of The Strand Thonglor
MQDC goes above and beyond by providing a unique 30-year warranty, serving as a testament to their unwavering commitment to delivering excellent service. Their comprehensive approach makes them a trusted one-stop solution for all your property needs, whether you're buying, selling, renting, or seeking professional management.
The Strand Thonglor, an award-winning luxury condominium project, has received accolades for its exceptional architectural design, including the prestigious 2018 Thailand Property Awards. This development showcases the expertise of HB Design, PIA Interior, and TROP Landscape, ensuring a truly remarkable living experience. The glass exterior allows an abundance of natural sunlight to flood the interiors, providing a healthy and invigorating environment to start your day. Residents can also benefit from features like an exclusive private entrance, automated parking facilities, and EV charging stations that are readily available.
Interior of The Strand Thonglor
The Podium at The Strand stands out as a curated space for functional living and connectivity. Whether you're in the mood for fine dining at the all-day restaurant, looking to unwind at the neighborhood speakeasy bar, or needing a productive space to work remotely, The Podium provides it all. Seek solace in the peaceful Strand Park, the green outdoor component of The Podium, offering respite from the bustling Thonglor ambiance.
Luxurious and spacious residential amenities abound at The Strand. The specially designed 6th floor caters to your children's well-being, featuring a playroom and tutor room ideal for homeschooling or private lessons. The Clubhouse Lounge provides a relaxing venue for you to bond with your family and neighbors. On the 27th floor, indulge in the pleasure of two beautiful pools—one for you and another for your children. You can also maintain your well-being at the fitness and meditation studio, relish breathtaking city views from the rooftop terrace, or practice your golf strokes at the putting green.
Infinity Sky Pool at The Strand Thonglor
The Strand Thonglor enjoys a prime location at the front of Soi Thonglor, just a 1-minute walk from the Thonglor BTS Station, providing convenient road access to both Thonglor Sukhumvit Soi 55 and Sukhumvit Soi 57. Several medical facilities, including Sukhumvit Hospital and Samitivej Sukhumvit Hospital, are within close proximity. For your shopping needs, there's a plethora of options available within a short drive, including Gateway Ekamai, The Commons, Terminal 21, J Avenue Thonglor, DONKI Mall Thonglor, The Emporium, Emquartier, and the upcoming EMPHERE, expected to open in October 2023. Parents can rest easy knowing that top-notch educational institutions like Bangkok Prep Primary and Wells International are conveniently located within walking distance, offering a seamless educational experience for their children. Additionally, nearby institutions such as ELC International and Kirakira Kids International provide further options for quality education in the area.
Due to its affordable cost of living and proximity to China, Bangkok has become a sought-after destination for expatriate families from mainland China to experience a cost effective yet luxurious life. While there are other property hotspots in Bangkok that can offer upscale homes with attractive rental yields and capital appreciation, Thonglor stands out by providing expatriates with a vibrant nightlife and the convenience of having international schools, shopping centers, and hospitals all within a short walk or drive away.
The Strand Thonglor units are ready to move in and there are several turnkey units available for a fuss-free move-in experience. This presents an attractive opportunity for individuals seeking immediate rental returns, as the units are prepared for immediate occupancy. If you're eager to explore one of Bangkok's best luxury property investments, seize the opportunity now! For the first time this year, MQDC will be hosting its exclusive property roadshow in Singapore.