Thailand’s Lifted State of Emergency is Promising for Real Estate Industry

The 60-day state of emergency that has been blanketing Bangkok since January 22 is lifted today. The lift comes as a relief and a promising sign that tourism businesses and foreign investors can start expecting the recovery of the tourist trade within a couple of months. The state of emergency will be replaced with the Internal Security Act (ISA), which will be effective throughout the Senate Elections in March, lasting until April 30^th.

While the political situation in Bangkok may have deterred some visitors and potential property buyers, Grand Unity Development Co has seen very positive sales rates lately and remains confident in condo demand. Since January, the company has launched three projects worth a combined total of 8.2 billion baht, and as reported by the Bangkok Post, expects 6.4 billion baht in sales and 4.05 billion in revenue, up from last year’s 3.6 billion and 3.12 billion, respectively.

Many of Grand Unity’s sales for 2014 were made last weekend at the House and Condo Fair in Bangkok; an event that allowed visitors to browse through a multitude of special promotions on over 300 new residential properties, including all types of houses and condominiums in every imaginable location and price range.