After talking about many big provinces with high potential in developing the real estate segment outside the capital Bangkok, most of them are tourists cities such as Chiang Mai, Phuket, Chonburi, Songkla or even a small tourist city like Hua Hin, where lots of real estate developers focus on. In the past few years, the real estate markets in those places are rapidly growing. “House for rent in Chiang Mai, “House for rent Phuket”, “Rent Hua Hin accommodation”, Condo close to Hua Hin beach”, all of these keywords are widely hit top search words on the Internet for tourists and those looking for great places to stay in the provinces.
According to several factors e.g. continuously increasing numbers of population, economic growth, and expansions of many industries as well as the plan for the development of basic infrastructures into main provinces, many of those cities are becoming future areas possessing the capacity for the growth in housing market. Because the advances in many aspects spread out into each region, probably as a result of the government preparation for the upcoming AEC or whatever reason, and more and more people have emigrated to find jobs, many areas are aimed to be new sites for emerging property markets. Even the local themselves are showing more interest in housing market. Those are some of the reasons to drive the property market segment to rise up all along.
Udonthani is regarded as gateway to upper Isan region. At present, there are over 3 million of populations in the area. Not only live the local residents in the province, but people from neighbor provinces are also moving there because it is an important city for better earnings. Over there, people are considered in the highest rank of income in the northeastern region. Besides, it serves as trading gateway city to Indochina. Everyday more than 300 Laotian people pass through the border for doing business and commerce. Also more than 2 million of tourists per year travel to this place. With many factors leading to economic growth like the international airport, some renowned 5 star hotels, full service shopping centers, brand name products, top-class restaurants and modern movie theaters, so land buying and selling is bustling business which makes the real estate price here as doubtlessly high as in Bangkok.
Even if this Isan city makes much progress in many aspects, the lifestyle of Udonthani residents cannot be easily changed. Most of the local loves to stay in their home town to help with the development. That is one of the reasons why many developers decide to make more investments in Udonthani properties, especially the fully furnished condominiums, which are highly in demand for the new generations and those moving in search of well-paid jobs. Condo is an alternative asset because it can be sold or easily let. For those, who prefer privacy and more living space, the brand new single house and secondhand townhouse of varied projects are not too difficult to be found as well. This is a new source of income for investors since the housing market here is still open for all kind of residences and requires a reasonable invested capital. The real investors should by no means be missing the opportunity.
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