Khon Kaen, a city in is the Isan region of northern Thailand has been put on the map as one of Thailand’s most promising areas for development. Today, the city is attracting some of the most prominent developers from around Thailand, including CP Land Plc, Piman Group, Rivendell Group and Sansiri Plc, who are looking to add new residential complexes to the city.
The condo market in this city began picking up in the late 2000’s and then continued with rapid development starting about three years ago. Between 2011 and 2013, over 6,800 condo units were launched in the city, with a large concentration in the city centre and around Khon Kaen University.
While in many cities in Thailand, a condo boom may be signal an increase in tourism, but in Kohn Kaen, most of the condo buyers in its market tend to reside in the units themselves. This makes putting new projects outside of the city a lower risk, as the city experiences less traffic than Bangkok locals are more willing to live further out and regularly drive in.
New condo developments in Bangkok are launching as well, with the market experiencing a very recent pick-up in this type of project now that the political situation has begun to calm down. With a combined total of THB 7 billion, Eastern Star Real Estate Plc (ESTAR) will be launching two new projects; one in Bangkok’s central business district and another in near the Purple Lien’s Yaek Tiwanon subway station.
