There are a rising number of start-ups calling Chiang Mai their home.
It is not new news that Chiang Mai in the north of the Kingdom is popular for those wishing for a slower pace of life than offered in the buzzing Bangkok capital. Its unique café culture and small size appeal to those wanting to embrace the cooler weather it offers too. However Chiang Mai has been thrust into the spotlight once again. This time as a hub for innovation and start-ups. This is according to real estate firm JLL.
Having been recognised alongside Penang in Malaysia, Danang in Vietnam and Bali and Bandung both in Indonesia. All these places offer a slower pace of life alongside cheap living to draw in this segment of the working population. Numbers of which that are rising thanks to the increasing number of millennials striving for the perfect work-life balance.
Asian cities have not been shy to welcome start-ups over the years. Supplying new types of offices in the form of co-working spaces have helped to meet demand. However there has started to be shift away from the traditional destinations of Bangkok, Kuala Lumpur, Singapore and Ho Chi Minh City with the rise of ‘digital nomads’. Loosely defined as an individual working in the tech scene who does not need a fixed working abode, such as a freelancer or entrepreneur. Where flexibility and freedom allow people to work whenever and wherever they wish to do so.
Why Chiang Mai?
For Chiang Mai, this city has been labelled as the epicentre for digital nomads. High quality of life and affordability have become key determiners in the city having this status. As a response co-working spaces have emerged such as PunSpace. Big corporations such as the BBC and Amazon use this space to host events showing their presence in the city. Plus a new innovative centre is in the making to assist the growth of social enterprises. As this exciting sectors continues to grow, the property market will need to ensure that the right type of property is available to meet this new type of working habits.
If you are looking to buy or rent property in Chiang Mai then take a look at Thailand Property’s extensive listings online here.