Many investors and large-scale developers continue to focus on Bangkok and Thailand’s tourist destinations to extend their reach. But are they are overlooking exceptional opportunities elsewhere in the Kingdom? According to Isan Real Estate, the answer is a resounding yes. In particular, the agency believes Nong Khai, Udon Thani and Khon Kaen are brimming with potential.
All three of these provinces are set to benefit from China’s Belt and Road Initiative. Northeast Thailand will receive a boost from the high-speed train network that will connect several Southeast Asian countries with China, opening the door to lucrative trade opportunities that are currently difficult to establish and maintain.
The high-speed train, which could be completed as soon as 2023, will create a direct connection between Nong Khai and Kunming in China. This advancement would significantly slash travel times between the two cities. From Kunming, it is also possible to reach China’s other major centres in a timely fashion.
Nong Khai is interesting because of its location next to the Mekong River. The area could soon become a central hub for all of Asia with direct access to China, Malaysia, and Singapore as well as Bangkok.
Isan Real Estate, winner of Thailand’s Best Real Estate Agencies 2018 Presented by Leading Real Estate Companies of the World® at the Dot Property Thailand Awards, has been carefully monitoring the high-speed train project since it was first presented by the Chinese government to Thailand. The company believes a number of opportunities are now available in the Northeastern provinces of Thailand.
Ernie Draper, Managing Director at Isan Real Estate, points to a 141 Rai (56 acre) plot of land with Mekong River frontage that would be a 10-minute drive from the proposed Nong Khai train station as an example of what can be accomplished.
He believes the site could be home to an international business centre with office space for multinational corporations, a five-star hotel, a shopping mall and many other lifestyle facilities. While these types of developments are normal in Bangkok, for a province such as Nong Khai, this would be a gamechanger.
Isan Real Estate, in conjunction with its international broker and attorney-at-law, has presented the project to major European CEOs and, according to the firm, the response has been overwhelmingly positive. Their feedback highlighted the fact operations could be streamlined with a central base in Nong Khai that provided direct connections to China and other countries in the region.
Of course, there is always scepticism when it comes to projects of this size and scope. But Draper notes that internationally-recognised architects are currently drawing up plans and blueprints for this development. Allowing for construction time and government approvals, office bookings could commence alongside the official launch of the high-speed train network.
Tourism brings the world to Northeast Thailand
The Tourism Authority of Thailand enacted an ambitious plan to promote parts of the country, such as the Northeast provinces, that aren’t well-known tourist destinations. Places like Sakon Nakhon and Nakhon Phanom are becoming more popular with visitors and increased promotion will benefit both places and the region as a whole.
Thai travellers know Sakon Nakhon because it is home to the Palace of H.M. King Vajiralongkorn. They visit this beautiful site to pay their respects. However, you do not need to be Thai to appreciate the beauty of the Palace and tourists from both Thailand and abroad will likely increase in numbers during the coming years.
Nakhon Phanom is one of Northeastern Thailand’s more unique cities. It sits along the Mekong River providing visitors with a chance to relax by the waterfront and enjoy the slow life. The city is connected to the Thailand-Laos border crossing with breathtaking views of the mountains of Laos serving as a backdrop.
As we’ve seen in places like Hua Hin, Phuket and Pattaya, the property market improves when tourism increases. People come and fall in love with a region. In turn, they look for holiday homes, establish businesses, retire, invest and enjoy a lifestyle that is both ideal and very affordable.
Affordability is important when talking about Northeast Thailand. No matter what you’re buying, land and property prices are far less than in other parts of the country. However, with impending infrastructure projects and more tourists on the way, it is only a matter of time before prices start trending upward.
Isan Real Estate is the leader when it comes to property in Thailand’s Northeastern provinces. The company has the professionalism, knowledge and experience to accommodate the needs of all buyers and sellers. They also work with associates in various fields to provide service that ensures clients can enjoy peace of mind. Isan Real Estate’s no fuss and no confusion approach has seen it become a trusted partner of everyone from large enterprise owners to individuals. The firm also specialises hotels and commercial property where buyer demand is rapidly increasing.