There’s no denying that in a developing country like Thailand property development is a competitive business. However, as Thailand is still experiencing political turmoil, property developers nationwide are being urged to focus less on competition and create with caution as poor and vague town planning tend to undermine the housing market in the long run.
The governor of Chon Buri, Komsan Ekkachai is urging developers to be considerate of city planning when building future projects. As this area has experienced substantial growth over the past decade, changes in the road and train systems are being made to accommodate the new number of residents, tourists and property investors. With major infrastructure changes underway, city planning must be considered in order for the province to have an efficient and sustainable future. Komsan has stated that property developers should focus less on competing with one another and more on quality and long-term profitability. Developing properties without considering city planning could lead to problems such as with pollution and wastewater, raising their construction costs.
The unorganized city of Phuket has already fallen victim to poor property development plans, and many other cities in Thailand are at risk of a similar fate. Anant Asavabhokhin, chairman of Land and Houses Plc, recently suggested that to avoid situations like Phuket’s, developers should make a truce, as competition between developers is bad for business in this time of political instability. While the economy is struggling, if a project sells out in a short period of time without a chance for prices to rise, all developers lose out on potential profit.
