TERRA BKK pointed out that "Rayong", a new S-Curve industrial city, attracts potential demand, pushing service apartment investments to be strong, while condo prices have grown 7% over the past 5 years.
March 29, 2023 - Rayong Province 1 in the strategic area of the national project The Eastern Economic Corridor (EEC) project has made mega projects. Many of which are under development, including the Eastern Economic Corridor of Innovation (EECi), an area of over 3,500 rai in Wang Chan District, Smart Park Industrial Estate to support the New S-Curve industry.
Create employment for 7,400 people, high-speed trains connecting 3 airports, a distance of 220 kilometers and Map Ta Phut Port (Phase 3) linking the capabilities of the Thai industry, all of which will enhance the potential of the area, pushing "Rayong" to be a source Including the most advanced industrial estates of Thai and foreign companies in the future
According to TERRA BKK, an in-depth expert for investing in real estate, it indicates that the above factors are creating opportunities for potential demand to be added to the real estate sector in the future as well, especially demand for quality. who came to work in the estate, such as the group of supervisors , middle-high executives, both Thai and foreigners such as Japanese, Chinese and South Korean people, who these groups Will come with both short-term and long-term housing needs.
"Serviced Apartment" new investment market
TERRA assesses that the serviced apartment market is becoming a star in the area. because of high demand in Rayong There are many price levels depending on the location, room style and facilities such as
Swimming pool, fitness center, room cleaning service, laundry service and limousine service. Rental rates are divided by room size and room type. Since the monthly rental rate is 35,000-83,000 baht per month, while the daily rent is between 1,200-6,500 baht per day.
The market is in the middle between hotels and condominiums. There are facilities and services that are better than general condos. But it's not as comfortable as a hotel. The room is also fully furnished with furniture to be able to move in immediately.
In addition, the rental period is more flexible than general apartments and condos, but there are still limitations in terms of security systems. Less privacy than condos and higher monthly rental rates than condo rentals.
Invest in fragrant condos, the price grows 7%
while investing in condos It is also interesting, with TERRA finding that there is a supply coming into the location continuously. because both small and large developers flocked in If you look back on the growth of condos during 2018-2022, you will find that there are 2-3 new condo projects launched per year, but the opening price continues to grow.
Currently, the average price is 79,000 baht per square meter. In the past 5 years, the price has grown at an average of 7% per year while being able to generate an average rental yield of 5-7% per year, but the rental rate Depending on the room size, from 5,000-18,000 baht per month.
while the average return on holding condominiums (Cap Gain) is 3%-5% per year. 48,000-65,000 baht per square meter The main customers who come to rent are people who work in various industrial estates in Rayong. Map Ta Phut, both Thais and foreigners (Expat), all of these are the potential of the location of 'Rayong' in various aspects. from the potential of the location Being the country's main industrial city and the growth of the location in the future
Source:https://www.thansettakij.com/real-estate/560337
Date 30/3/2023
