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Japanese fuel Thai rental market
Asia Property Report:
27 May 2008
By: Robert Carry
Increasing Japanese production activity in Thailand is leading to a rise in the number of Japanese expatriates living in the country – which is in turn fueling demand for Bangkok apartments and condominiums for rent, a leading international property consultancy firm has claimed.
According to Theerathorn Prapunpong, director of residential leasing services at CB Richard Ellis, Japanese work-permit holders already comprise the largest group of work-permit holders in Thailand. According to the Ministry of Labour, 24,740 out of 122,262 BOI and temporary work-permit holders were Japanese, a figure roughly equal to 20 per cent of the total.
The most popular residential locations with Japanese expatriates are Sukhumvit Soi 21 to 55. This area offers convenient access to a wide range of facilities, including the BTS, expressways, supermarkets, hospitals, shopping and entertainment complexes, as well as proximity to the Japanese school.
Single tenants, a one- or two-bedroom unit in the region of 80sqm is sufficient, and budgets can range from Bt45,000 to Bt75,000 per month. Japanese couples meanwhile, opt for generally of the two-bedroom units with a floor space of around 100sqm. Budgets are in the Bt60,000-80,000 per month range.
